Word: retailing
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Dates: during 1980-1989
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...economic performance, fell .6% in January. But economists were encouraged by the Government's revision of the December index, which changed from a .2% drop to a .3% increase. Moreover, the unemployment rate fell from 5.8% in January to 5.7% in February, the lowest level since July 1979. While retail sales were sluggish in February, most economists expect rising exports to keep the economy going through the rest of the year at least...
Campeau and Macy's are vying to form a retail colossus. Federated (1987 sales: $11.1 billion) owns 650 stores, including such lucrative chains as Bloomingdale's, based in New York City, and San Francisco's I. Magnin. If Federated combined with either Macy's (97 stores, 1987 fiscal-year sales: $5.2 billion) or Manhattan-based Allied Stores (286 stores, estimated 1987 sales: $3.5 billion), which Campeau Corp. bought in 1986, the merger would be the largest in retail history...
...Nantucket whaler, stunned Wall Street by joining the fray. Chairman Edward Finkelstein, a shrewd, 40-year veteran with the company, had taken the firm private in a $3.7 billion leveraged buyout in 1986. Loaded with debt after that deal, Macy's seemed incapable of takeovers. Says Pavlos Alexandrakis, a retail analyst for Argus Research: "It's the last company you would expect to be out shopping...
...board accepted a proposal by Brattle Square Associates to build a 30,000-square-foot retail-office complex at 12-14 Mifflin Place, the restaurant's current site...
...second proposal, which calls for a 99,000-square-foot retail and office building on the present site of the Cherry, Webb & Touraine clothing store, was shelved because it did not allow for enough parking spaces...