Retailing: Store with Its Heart in Its Work

Hungarian Immigrant Morris Rich was a naturalized optimist. Who else would have opened a dry goods store in devastated Atlanta, Ga., in the grim postwar year of 1867. Yet even Rich would be amazed to see how far his "M. Rich Dry Goods Store" has come. Last week, presiding over its centennial-year annual meeting, Grandson Richard H. Rich, 65, the present chairman and chief executive, ticked off statistics. Rich's last year rang up sales of $148 million for a 12.9% gain over the previous year (v. 3% for U.S. retailers in general) and showed earnings of $14,450,000. Return on equity...

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