Business & Finance: Profits

Early and exuberant were the mid-year statements of Big Business. U. S. corporations listened skeptically to gloomy prophecies of the end of "Coolidge prosperity," then announced record sales, new high profits. Chain stores declared June sales of $123,239,775, an increase of 21.6% over June, 1927, while their six months' gains totaled 17.2%. Prohibitionists could I rejoice at the report of the company headed by Sebastian Spering Kresge, Anti-Saloon League angel, showing $62,790,164 sales, $6,527,111 earnings, as against $55,-900,987 and $5,756,039 for the first half of 1927. But vegetarians groaned at the outstanding exception among triumphant chain store operators. Newly dedicated...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!