Word: walgreen
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...Myrtle Walgreen was a farm-bred girl whose face had never known the tint of man-made coloring. One day in the early 1900s her pharmacist husband brought home some lipstick and rouge, dabbed a little on her, then urged her to show the new face in public. In Myrtle's ruby lips, Charles R. Walgreen saw rosy profits. Sure enough, neighboring wives rushed to his drugstore on Chicago's South Side, where they found not only Walgreen-produced pharmaceuticals and cosmetics, but hot meals cooked to Myrtle's recipes. As business boomed, Charlie continued to innovate...
From such simple beginnings, the prototype American drugstore grew. Today, the Walgreen empire has 523 wholly owned outlets, plus a franchise network of 1,900 independents licensed to use the Walgreen name and sell its products. Store managers get rigid directions on everything from sexy magazines and paperbacks they cannot sell to what products they should push. The Golden Rule for all Walgreen store managers is: go below, never above, the recommended price...
...proved a profitable formula. Sales have doubled in a decade, and this year the company is certain to go past the $500 million mark. Earnings advanced by a highly impressive 24.7% during the first half. Walgreen stock has risen correspondingly, from...
...Sears, Roebuck and J. C. Penney both announced an 8% sales gain for the month, while Interstate Department Stores, with 107 outlets in 83 cities, experienced a 14% rise in volume. The increases spread across many fields. Sales of the Grand Union grocery chain rose 9%, those of the Walgreen drug chain 15%, those of the S. S. Kresge variety chain...
...ordered 2,400 more. Sales of all kinds of Batman merchandise would be still bigger except that manufacturers mistimed the impact, have fallen as far as six weeks behind in deliveries. "I've seen maybe 50 items in hand samples," complains Charles Lucas, Chicago-based buyer for 495 Walgreen drugstores. "But we've only got about ten in our stores...