The Revolutionists of Retailing (Fortune 1962)
FORTUNE -- In a mood of reflection some months ago, Professor Malcolm McNair of Harvard Business School, the dean of U.S. authorities on retailing, nominated the six greatest merchants in U.S. history. The six men are Frank W. Woolworth; John Wanamaker; J. C. Penney ( JCP ); General Robert E. Wood, who in the 1920's and 1930's converted Sears, Roebuck ( SHLD ) from a mail-order house into the world's largest retailer; Michael Cullen, the "inventor" of the food supermarket; and a diffident young man of forty-one named Eugene Ferkauf.
The name, which means "sell" in German, is only dimly known even in retailing circles. But Ferkauf's influence has been explosive. He is the founder and controlling stockholder of E. J. 'Korvette, the nation's largest "discount house." Korvette started operations in 1948, selling luggage and appliances' at less than list price in an upstairs loft on New York's East Forty-sixth Street. Today Korvette sells a full line of department-store merchandise, from sheets to shirts to furniture, at prices 10 to 30 per cent below the prevailing level, in seventeen department stores in New York, New Jersey, Connecticut, and Pennsylvania. The company has opened four stores since August, and plans seven to ten more over the next two years; next month it will open a store at Fifth Avenue and Forty-seventh Street in New York, two blocks down from Saks Fifth Avenue ( SKS ), in the building formerly occupied by W. & J. Sloane, the hundred-year-old furniture store.










Instead Paste books editor Charles McNair lists his favorite books of the year.
Charles McNair is the author of the novel Land O' Goshen and is Books Editor at . It's the new way to experience Paste. Read, listen, watch and download the week's essential entertainment in one so-easy-your-toddler-can-use-it app.
“If we could heat those front two buildings, it would make such a difference,'' said
Haunted house legit local estab in old town St. Charles, old David McNair house friends own store connected to it. Scary stories ahead hehe.
RT @: Mike Jordan, Shaq, Jesse Jackson, Carter G. Woodson, Charles Drew, LT GEN Charles Young, Timon Lott, Robert Mathis, Ronald Mcnair 



