RETAIL TRADE: Allied Makes a Buy

"Retailing is a very simple business," says Allied Stores Corp. Chairman B. (for Benjamin) Earl Puckett. "The only problem is handling a multiplicity of details." Puckett handles details so well that he has built Allied into the biggest U.S. department store chain, with a $437 million-a-year gross. Last week, without spooning a nickel from Allied's treasury, he made it even bigger: he completed a deal to take over 84-year-old Stern Brothers* department store and give Allied its first outlet in Manhattan.

Stern Bros, moved uptown to its eight-story store on Manhattan's bustling 42nd Street in 1913, thoughtfully included a carriage...

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