Word: retailing
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Dates: during 1960-1969
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...worked out. So far, the textile industry has received a mouth-watering $329 million in subsidies; payments have even gone to prisons whose convicts work at weaving. Textile industry profits have soared to their highest level since Korea. But there has been no dramatic drop in wholesale or retail textile prices. For example, the Agriculture Department recently reported that the price of a heavy cotton union suit has risen from $3.07 a year earlier to $3.14, a long-sleeved sport shirt from...
...year. Steel production reached an alltime high-2,757,000 tons in a week. Though steel and autos will almost certainly ease off from those record rates, there are many other muscular forces in the economy. Last week gains were reported in building permits, manufacturing orders, retail sales, personal income, employment, profits, dividends and capital spending...
Pinch & Price. The shortage is acute simply because silver has become an increasingly important commodity. It is in rising demand in industry for use in making silverware, jewelry, missile parts and, most important, silver halide camera film. At the same time, the fast growth of retail trade, notably in the $3.5 billion-a-year vending machine industry, has brought an unprecedented demand for coins. U.S. mints have tripled their output since 1962, but they cannot meet demand. Everybody feels the pinch: Las Vegas gambling operators have reluctantly substituted plastic chips for shining stacks of silver dollars; bankers in several cities...
...TOURISM. The biggest public impact will be caused by Johnson's proposal to cut the amount of duty-free goods that U.S. tourists may bring home from $100 at wholesale value to $50 at retail value. Whisky, rugs, custom-made suits and other goods, which can now be shipped home as part of a tourist's duty-free allotment, henceforth will be taxed regardless of whether the tourist has spent his allotment. Projected dollar savings: about $100 million a year...
...accordingly awarded for quality. To get a better reading of consumer tastes, Bolshevichka set up its own shoppers' clinic. Within six months, both profits and quality had soared and, of critical interest to the Kremlin, inventories were sharply reduced: the turnover of Bolshevichka and Mayak goods in the retail stores was speeded up by some three weeks...