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Fall 2012 did business with smaller banks local

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Unformatted text preview: f any area where profits exceeded 1 or 2 percent.” Fall 2012 Jim Love ADMS 1010 24 Fall 2012 Jim Love ADMS 1010 25 Wild Success – Seeds of Failure •  John David Eaton (one of John Craig’s sons) takes over in 1942 – family decision •  The end of the Depression brings a 60 percent increase in department sales •  Eaton’s expands to Vancouver in 1948 buying Spencer’s – the largest department store chain Fall 2012 Jim Love ADMS 1010 26 Other Changes – Post WWII •  •  •  •  Emergence of a new middle class Per capita disposable income increases Move to the suburbs Increasing dominance of the automobile Strategically – what do you do? Focus on downtown shoppers or follow this “demographic shiC”? Fall 2012 Jim Love ADMS 1010 27 A new challenger – any difference? •  Simpson’s had 5 retail outlets in five large Canadian ci=es. Like Eaton’s – Simpson’s paid great acen=on to enhancing the shopping experience. •  Lounge rooms •  Wide passageways •  Arcadian Court – world’s largest restaurant •  Focus on mail order and catalogue •  Robert Simpson’s moco was “ This store must sa7sfy everyone.” Fall 2012 Jim Love ADMS 1010 28 Differen=a=on •  Simpson’s went public in the early part of the century •  Edgar Burton – instead of being annointed by the family is sent to Chicago. His father explains “if Edgar did well (in Canada) he would be accused of being ‘pushed ahead of others’. So Edgar becomes a low paid shipping clerk in Chicago, living in a room “too small to even fit his luggage trunk”. •  1950 – Simpson’s president Edgar Burton meets up with Robert Wood, chairman of Sears Roebuck in Chicago Fall 2012 Jim Love ADMS 1010 29 Robert Wood •  Chairman of Sears Roebuck •  Helped build the Panama Canal and learned about mass buying (a lot like Fedex) •  Wood believed that “broad public support and cul=va=ng a successful business were not mutually exclusive.” •  •  •  •  Fall 2012 Did business with smaller banks (loca...
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