Business & Finance: Chain Stores

The issuance last week of the annual reports of the two leading American chain-store companies— the F. W. Woolworth Co. and the S.S. Kresge Co.—again demonstrated extraordinary profits earned in recent years by this class of merchants. Woolworth last year enjoyed the benefits derived from the splendid profits made in 1922, when net income of $18,324,399 and surplus of $22,038,950 enabled the company to retire its preferred stock, reduce its good will item by $20,000,000 and still have a surplus of $10,663,349. Last year net income set a new record at $20,698,180; good will was reduced by $10,000,000 more,...

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