Word: retailing
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Dates: during 1960-1969
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First off, the President discovered that retail sales for January hit an all-time high of $25 billion despite assurances that he had received, on the basis of early data, that they had leveled off -an anti-inflation sign he publicly welcomed two weeks ago. Price rises were announced for shoes, sheet glass, fertilizers and, despite Administration efforts to avert it, most cigarettes (a penny more a pack). Most worrisome of all was a half-percent rise in the crucial consumer price index for February, caused largely by spiraling meat, milk, poultry and vegetable costs. It was the largest increase...
...many outward signs, the trading-stamp business was never better. Stamp distributions in supermarkets, service stations and other retail outlets last year surpassed $1 billion; the Trading Stamp Institute, which represents most of the important companies in a field of 200 and speaks for all, predicts that business will increase this year...
Jarman, 61, a Baptist deacon and collector of nonobjective painting, built his father's Nashville, Tenn., shoemaking firm into a $760 million-a-year shoe-and-clothing combine called Genesco Inc. As chairman, he controls some 1,500 retail outlets grouped under 50 firms, including I. Miller, Bonwit Teller, Roger Kent, Henri Bendel. Hoving, 68, stands 6 ft. 2 in. tall and looks every inch what he is: the supremely suave chairman of the grand Fifth Avenue jewelers, Tiffany...
...Dubious Claims." Garfinckel's management filed an antitrust suit in Federal Court in Washington, charging that a Genesco takeover would suppress or reduce competition among clothing and retail shops in New York, Washington and other cities. Garfinckel's asked for treble damages for the $500,000 it claimed it had already lost in business and property value because of Jarman's takeover efforts...
...which now stands close to $200 million, plus at least $1 billion worth of stock-and-bond holdings. State-controlled Compagnie Francaise des Petroles, the ninth largest oil company in the world, has just bought one-third of Leonard Refineries, Inc., a Michigan-based independent oil company with 800 retail outlets and 1,200 miles of pipeline, as an entering wedge into the rich U.S. market. Petroles plays the game with some reverse chauvinism based on its European brand name. Total: its Delaware subsidiary, which bought into Leonard, is called Total American...