RETAIL TRADE: Young Man of Promise

When curly-haired Edward W. Carter took over as executive vice president of Los Angeles' Broadway Department Store, Inc. in 1946, he vowed to double the company's $31.8 million business within three years. After four years with Broadway, 38-year-old Ed Carter, now president, hasn't quite reached his goal. Sales in 1949 were $50.6 million. But last week he kept his word in a different way.

Broadway arranged to buy northern California's Hale Bros. Stores, Inc., thereby forming a 15-store chain with combined sales of $88 million, the second biggest west of the Mississippi. (The first: Los Angeles' Bullock's, Inc.) The deal...

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!