Word: markdowns
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Dates: during 1950-1959
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...this, nobody is aiming at the real bargain, such as the genuine month-end clearance, the special purchase, distress merchandise, the end-of-the-season markdown of broken lots. But what the FTC, the Better Business Bureaus and merchandising groups (such as the National Retail Merchants Association) want to end are the phony price-cuts. The merchants, many of whom have prodded the FTC to get tougher, feel that if they do not voluntarily police their industry, Congress will step in and do it for them-just as the Monroney law outlawed phony price-packing by auto dealers...
Profits were slashed further by a necessity for heavy markdown because of an "injudicious" surplus of merchandise stocks and stringent OPS price controls...