Word: retailing
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Dates: during 1960-1969
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Since last fall, consumer spending has been the most invigorating force in the economy. It is less so now. Retail sales, which normally rise in June, did not do so this year; indications are that they ran below the May rate-which, in turn, did not show the usual increase over April...
Inevitably, the swelling number of dis count houses accounts for an increasingly large share of U.S. retail sales (see chart...
...average consumer's disposable income went into retail sales; now only 54% does. Much of the money that the shopkeeper used to get is now being spent on services such as entertainment and travel. Merchants point out that U.S. manufacturers have not devised any really irresistible new product since television. Where the manufacturers have failed, the merchandisers hope to succeed...
Most other brand-name soft goods enter Korvette's through the back door, if at all. Pantino women's slacks, which retail for $10 to $18, sell in Korvette's for several dollars less-but without the Pantino label. Jantzen and Catalina swimsuits-also stripped of labels-sell for 10% to 15% off regular retail prices, but the choice is limited. For the most part, Ferkauf relies on private-label soft goods put out for him by big-brand manufacturers. Korvette's calls them "compara-bles"; they include such items as Kayser-Roth "Nolde" nylons...
...nearly a decade, the bitterest holdout against the rush to retail trading stamps was the nation's biggest grocery chain, the Great Atlantic & Pacific Tea Co. Only last March did A. & P. reluctantly get into the game with Plaid stamps. Last week, at the company's annual meeting, President Ralph W. Burger, who two years ago condemned the stamps as a "drag on civilization," conceded that they may be good for business...