Word: store
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Dates: during 1950-1959
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That night the Eisenhowers retreated to the presidential suite of the Statler Hotel. Next day Ike went to Walter Reed Hospital to have a stubborn case of-pink eye examined, while Mamie got her first chance in seven months at a U.S. department store. Ike made his duty calls at the Pentagon and lunched formally with Defense Secretary Lovett. Then, trading his uniform for a well-cut civilian suit, Ike Eisenhower followed his high road on out across...
Department store profits during 1951 fell of more sharply than those of almost any other type of big business, Malcolm P. McNair, Lincoln Filene Professor of Retailing, said yesterday. Compared with the previous year, the net dollar earnings suffered a 39 percent drop...
Within a year, the new boss had boosted sales to the point where the store was crowding its old quarters; Bingham added on buildings to double its floor space. Sales kept right on rising, until the San Francisco store pushed from sixth place to second, outsold only by The Emporium, which has twice as much floor space...
...more than half a century, Macy's New York, the world's biggest department store, has never had a boss who was not a member of the owning Straus family. When Richard Weil Jr., a Straus grandson, stepped down from the presidency two months ago (TIME, March 24), the job was taken on by his first cousin, Jack Straus, who also runs the entire Macy chain. This week the family tradition was broken. Jack Straus announced a new boss for the store: 44-year-old Wheelock Hayward Bingham, who for seven years has run Macy...
...sold a balky woman customer six pairs of shoes the first day there, was immediately rewarded with the offer of a spot on Macy's "training squad." Bing found the offer so alluring he never went back to college. Within a year, he was head of the store's Varsity Shop. At 22, the ex-shoe clerk became a full-fledged buyer, and at 32, a vice president...