Word: retailing
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Dates: during 1960-1969
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Inflation Equation. According to Commerce Department figures, retail sales in January increased 3% over December and almost 6% over January 1967. Housing starts were up 16.3% in January, the sixth increase in seven months. Total personal income inched up to an alltime record, a seasonally adjusted annual level of $651.2 billion. The unemployment rate, meanwhile, fell to 3.5% in January, its lowest level in 14 years. Equally buoyant are the latest corporate-earnings reports. Surveying 581 companies, the Wall Street Journal found that their total profits during 1967's fourth quarter had increased 5.2% over a year earlier...
Johnson and his advisers buttressed their case by noting that while 1967 began slowly, the pace quickened so much that interest rates, retail and wholesale prices and other indices were in danger of spiraling out of control by year's end. The momentum is carrying over into 1968, with heavy auto and steel production pacing an expected surge of $20 billion in the gross national product during the first quarter-an alltime record...
...with no formal design training and as little as two years of experience working with a decorator, obtains a wholesale discount card and works for 10% of what the customer intends to spend. To the dismay of reputable professional decorators, who usually take the entire 30% to 40% retail markup as their fee, "ten-percenters" are overrunning the field. "You have to stand in line at the fabric houses because of them," sighs one San Francisco decorator...
...widely known merchants last week crisply advised their fellow retailers that it is time to get more deeply involved in civil rights. In New York, in a sharp speech delivered at the National Retail Merchants Association convention, Charles Y. Lazarus told his colleagues that they must personally take a part in the urban crisis that has storekeepers "living on a volcano." And Neiman-Marcus President Stanley Marcus announced that henceforth civil rights will be as important a factor as price, quality or delivery time in what his six Texas specialty stores in Dallas, Fort Worth and Houston...
Neiman-Marcus is one of the first retailers to take such a step in the area of buying practices, and civil rights groups responded approvingly. "The announcement will have a salutary effect," said John A. Morsell, assistant executive director of the N.A.A.C.P. "Assuring equal employment opportunity cannot be made the exclusive business of government, and one would think that businessmen would insist upon a major role for business also." Some retailers were less enthusiastic. "This type of action should not fall into the private sector," said Martin B. Kohn, chairman of Baltimore's Hochschild, Kohn & Co. and president...