Word: retailing
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Dates: during 1990-1999
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...image-conscious times. Since 1978 the industry has mushroomed from just seven outlet centers to more than 280, with gross sales estimated at as high as $18 billion. Last year sales for outlets and off-price stores rose 10% to 12%, about double the rate of increase at ordinary retail stores...
...offer goods at 20% to 60% off the usual retail price, a requirement that is specified in the stores' leases and that distinguishes such discount centers from ordinary malls. Try on a $218 Ann Taylor dress, slashed to $69.90. Reebok Sole Trainers that normally retail for $85, at $55. Anne Klein II perfume at $17.95 instead of the usual $32. More than 1.5 million shoppers , have done so since Sawgrass opened its doors in October. "Everybody is looking for bargains these days," says William Cohen, 36, waving a pair of jeans selling at $30 -- half-price -- at the jammed Guess...
...earlier successes: Potomac Mills in suburban Virginia and Franklin Mills on the fringes of Philadelphia. Each attracts 1 million bargain-hunting shoppers a month. "Western is doing something daring and truly different, gambling that this might be the future of malls in America," says Terry Dunham, publisher of Value Retail News, which tracks the outlet industry from Clearwater, Fla. Western has plans for four more discount malls: near Chicago, Detroit, Pittsburgh and Ontario, Calif. Not to be outdone, Benderson Development Co., Western's main rival in megamall retailing, is building what it touts as "the largest manufacturers' mall...
Statewide, California has some 800 bonded wineries, and the industry employs nearly 120,000 people. Last year California winemaking generated $6 billion in retail sales. This year wine sales nationwide are flat, but vintners argue that while people may be drinking less, they're drinking better. According to a survey by Hambrecht & Quist, a San Francisco investment firm, sales of California's premium wines have increased an average of 19.6% a year over the past five years. At the peak of the scale, California's ultra-premiums command prices that come close to matching those of Europe's best. Diamond...
That standing is unlikely to increase soon. Starting Jan. 1, vintners must cope with an increase in the federal excise tax on table wine from 17 cents to $1.07 per gal., which may add 50 cents to the retail price of a standard (750- ml) bottle of wine. Pessimists in the industry predict that the increase could reduce wine consumption by 12% and lead to the loss of 7,000 jobs. The tax hike comes at a time when many growers are also worried about phylloxera, a mite-size plant louse that is gnawing away at vines, primarily in Napa...