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Show The National Enterprise, April 6, 1977 Anyone living within the range of Grand Central business can hardly escape their jingles and rhymes because corporate policy is to go after the same exposure as its largest competitor. With one store or ten, GC will buy just as much space and time as the next guy. Of course, Mackey points out, advertising becomes more cost efficient when youve got a greater number of stores in an area to benefit from those media dollars. Just the Central will Grand same, make just as big a splash in Farmington with the single store as the big guy down the street. Ahead of the Industry Attention to detail before construction begins and Grand Centrals distribution system are probably two reasons its stores are so profitable, Mackey said. Sales per square foot in 1976 of $107 were about 25 percent ahead of the industry in the Page thirteen Salt Lake area. And while earnings won't take the 90 percent leap in '77 as they did the year prior, net income for the 26 weeks ended Jan. 31 managed to grow about three percent despite the costs of opening two new stores and completely remodeling another. Explaining that 90 percent boost, Mackey said everyone in the retail business across the U.S. had an increase as compared to. The year before was devast-ing- . GC itself saw net income in 1975 tumble to $1.01 a share from $1.27. The rebound in 1976 to $1.92 was impressive indeed. Based on past performance, the outlook is bright nonetheless. Grand Centrals sales in the past five years have risen an average of 22.5 percent a year, earnings an average of 25.25 percent. Grand Central made it through rough times largely because they do a lot of things differently. Its distribution system, for one. It also leases stores rather than borrow money to buy them, preferring to put its cash into merchandise instead of carrying a heavy debt burden. It almost always builds free standing stores rather than locate in large shopping malls or centers, thus eliminating a lengthy wait while others agree upon sites. And it relies on basics as the bulk of its inventory. Health and beauty aids, consumable convenience items at discount prices are the keys to success, Mackey maintains, though he spotted some rather fingey 15 foot canoes in a store not long ago. We discount quality merchandise. We dont come in with secondary programs or discontinued merchandise. And yes. Grand Central, unlike some of our is brand competitors, conscious," he admits. AIR CARGO to SAN FRANCISCO and LOS ANGELES Sunday thru Friday Next morning delivery in-bou- nd and out-boun- d! Ado Iphie Cargo Enterprises Executive Terminal International Salt Lake (801) Airport, B8 533-081- 8 |