RETAIL TRADE: Mr. Philadelphia

Philadelphia's bald, moonfaced Albert M. Greenfield, a real-estate man who became a banker, slid into the department-store business in the depression '30s. With the once prosperous City Stores Co. verging on bankruptcy, Banker Greenfield moved in to protect an $8 million loan, reorganized the company with himself as boss. Under him, City Stores mushroomed from five stores to 22, its gross from $33 million to last year's record $168 million. Profits also hit a record of $5,000,000.

Last week Al Greenfield, still full of beans and plans at 62, decided that the...

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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