Word: markdowns
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Dates: during 1980-1989
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...heyday, brewers saw little reason to give discounts. But in these sober times, sales have gone flat, and brewers are ready to use drastic measures to defend their place in America's coolers. Last week market leader Anheuser-Busch announced an aggressive round of price cuts in response to markdowns by its archrivals, notably Miller Brewing and Adolph Coors. Anheuser-Busch will cut the prices of its major brands, including Budweiser and Michelob, by as much as 25 cents a twelve-pack to match competitors. The company says the markdown is necessary to protect its hard-won 41% market share...
With one sweeping markdown, Sears hoped to regain the loyalty of customers who have drifted to such discounters as K mart and Wal-Mart. Abandoning its decades-old philosophy of luring buyers with frequent sales, Sears is turning to "everyday low prices." To put new price tags on 1.5 billion pieces of merchandise, Sears recruited a temporary army of retirees and high school students. Together with regular Sears employees, the price changers wielded 29,000 label guns. Said Chris Skinner, a high school freshman who worked at the Sears outlet in Columbus' Northland Mall: "The worst was the screwdrivers...
Under the plan, U.S. banks would swap their Mexican debts at a markdown of as much as 50% for new bonds that pay a somewhat higher interest rate. Despite the loss that banks would take in the trade, the new Mexican paper would be considered more secure and negotiable than the old debts. Reason: before issu bonds that would be worth $10 billion when they mature in 20 years. The U.S. bonds would then serve as collateral for the new Mexican paper. While the proposal may be a breakthrough in the debt standoff, the $10 billion in loan relief would...
...main selling point of the 76-year-old Filen's Basement is its "automatic markdown policy filen's buys overstock and irregulars form what it calls grit and glamorous stores, and then resells it at discount determined by a now famous formula. If the item sits on the rack for f12 days its initial prose will be cut by 25 percent. After six more days, the price is reduced 50 percent with in another six 75 percent. And if a piece of clothing doesn't sell by 30 days after it first hits the floor, Filen's gives...
...ministers hope to avoid repeating their desperate move of March 1983, when they were forced to make the first and only price cut in OPEC'S history, a markdown of its benchmark Arab Light crude by $5 per bbl., to $29. Since then, energy conservation and sluggish world economic growth have helped push oil prices even lower, despite OPEC's self-imposed production limit of 17.5 million bbl. a day. Ministers hinted last week that they might reduce their output to about 16 million bbl. a day. By comparison, the group's daily production...