Word: supermarketing
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Food Stores, a 31 -supermarket chain based in Birmingham, had to institute bargain-basement prices: 990 per Ib. for choice steak, $1.07 for three pounds of coffee. "It is O.K. with me," says Owner Joe Bruno. Since the price cuts, sales have zoomed...
Besides Depression-level prices and the absence of a sales tax-most states exempt these so-called "casual sales"-the supermarket-style modern rummage sales and their smaller neighborhood counterparts offer the old-fashioned fun of a country fair. Their proliferation has also revived the ancient art of haggling, long since fallen into disuse in the U.S. Picture the satisfaction of one Connecticut housewife, for example, who bid for a three-year-old G.E. refrigerator and got it for $50. At the same sale she picked up a Kenmore washer with a new motor...
Nearly half a century ago, Quentin Reynolds (no kin to the late writer) was a fruit clerk in an Oakland grocery store, and Safeway Stores was a small California supermarket chain. Since then, both have had more than the normal diet of success. Early last year the powerfully built and congenial Reynolds, 66, was named chairman of Safeway, which has no mandatory retirement rule for that job. Now, for the first time, Safeway is the world's largest food retailer. Last week the chain reported sales of $5,511,000,000, just squeaking...
Trying to fix the blame for the high price of food has become a national preoccupation-a noisy adult version of pin the tail on the donkey, played by politicians, supermarketeers, farmers and consumers. Yet one thing is clear: despite a recent leveling, supermarket prices will climb further during 1972. That message came out of the Price Commission's hearings on food costs last week. As Assistant Agriculture Secretary Richard Lyng said: "Increases in retail food prices will, overall, be modest. There will, however, be sizable price swings in individual commodities...
...from Johns Hopkins, Agnew studied law while working at Maryland Casualty Co. in the sprinkler-leakage department. After Army service in the war, he hung out his lawyer's shingle-and starved. Driven to the help wanted ads, he became assistant personnel manager at Schreibers', a Baltimore supermarket chain. Then the Army recalled Agnew and nearly sent him to Korea, although he was a married man in his 30s with three children...