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The first President's Choice (PC) products began appearing on Loblaw store shelves in 1984, but the concept was created the year before as the company marketed a new ground coffee. Dave Nichol , president of Loblaw Supermarkets, was looking for products to add to the company's lineup of No Name generic items and had even begun offering gourmet ...
The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
The 2005 controversy came after a related lawsuit settled in 2002 in Texas. That lawsuit, alleging exorbitant late fees, led the company to pay $9.25 million in attorney fees and offer $450 million in late fee refund coupons (which were rent-one get-one-free coupons, and thus required the customer to make an initial expenditure).
The value of each coupon was random, with Toys R Us coupons ranging from $1 to $5; up to $5 in coupons could be used in a single transaction. In 2008, these coupons were redeemed for up to 25% off any Foot Locker item(s). Since 2009, the promotion has not featured any coupons.
The 2010 opening of the Brooklyn, New York CO-OP location raised some concerns among members of the Park Slope Food Coop regarding the use of the term "co-op" by a for-profit corporation. According to the general manager of the Food Coop, Barneys's use of the term is a violation of the New York State Cooperative Corporations Law. [59]
In the 1960s and 1970s the term "discount department store" was used, and chains such as Kmart, Zodys and TG&Y billed themselves as such. [3] The term "discount department store" or "off-price department store" is sometimes applied to big-box discount retailers of apparel and home goods, such as Ross Dress for Less, Marshalls, TJ Maxx, and ...
New York City has one of the highest costs of living in the world, which is exacerbated by the city's housing shortage. [344] [345] In 2023, one-bedroom apartments in Manhattan rented at a median monthly price of US$4,443. [346] The median house price city-wide is over $1 million as of 2023. [347]
The New York City-based chain was founded in 1904 and opened its first supermarket in 1951. The company quickly expanded from the city into Nassau and Suffolk counties, and later into Connecticut and Massachusetts. In the early 2000s, A&P operated 80 Waldbaum's in southernmost New York state (outside Manhattan). [79]
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