Word: restocked
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Dates: during 1962-1962
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Blackballs & Back Doors. To get rid of his rags, Ferkauf in 1958 abruptly sold $5,000,000 worth of them below cost and set out to restock with better goods. But to do so, he desperately needed an experienced soft-goods buyer. He ran through four merchandising managers in three years until last year he hooked boyish-looking Jack Schwadron, 36, the whip-smart scion of a family that helped to found New York's Alexander's cut-rate department stores (in which Korvette's has a 43% voting interest). Schwadron knows soft goods. More important...