Word: retailing
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Dates: during 1960-1969
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Policy & Performance. In recent weeks the indicators have been moving unmistakably upward. Housing, the great industrial invalid of 1966, has begun to recuperate (see following story). Retail sales have revived, partly because of an early Easter and strong March department-store sales but mostly because the U.S. consumer has replenished his savings and is spending again. Unemployment, in spite of a dip in the factory work week, has failed to increase, and, in the most reassuring indication of all, Ackley pointed out that "we have been encouraged by the apparent speed of the inventory adjustment, with accumulation actually falling...
...current issue of Philadelphia, one of the glossy, city-centered magazines that are now catching on across the U.S. (TIME, Dec. 24, 1965). Digging just as hard as Karafin, Philadelphia Writers Gaeton Fonzi and Greg Walter began by investigating a racket involving fly-by-night companies that bought retail items on credit, unloaded them fast at discount prices, and then went into bankruptcy. The trail led to the doorstep of a 600-lb. operator named Sylvan Scolnick. Arrested, prosecuted and convicted, Scolnick started singing. Karafin, said Scolnick, was a good friend, so good, in fact, that he vouched for Scolnick...
...sports figures. It then licenses manufacturers to use the names to jazz up their own products. Now, with a score of salable names in hand-including TV's Batman and Mission: Impossible-Licensing grandly claims to be No. 1 in "an industry that represents $400 million in annual retail sales...
...Washington last week, Government economists were as cheery as the cherry trees - and for much the same reason. Despite some sickly buds here and there, the economy seemed to be blossoming with the season. Warm weather had brought out the biggest show of shoppers in retail stores since last autumn. Retail business in March, reported the Commerce Department, was $26.47 billion, a 3% increase over February. After adjustments were made for this year's unusually early Easter, March figures were still 4% above retail spending a year...
...stock himself. Ward got out of debt in three years, meanwhile consolidating Stover operations, increasing the sales force, and gradually raising prices until a standard 1-lb. box of assorted chocolates now costs $1.70 (v. $1.40 in 1960). Ward has quadrupled the number of Stover retail outlets to 348; the company also wholesales to 5,150 drug and department stores...