This is a dangerous and potentially deadly time to be a retailer in America. The number of stores has grown at a rate far faster than the U.S. population, setting off a competitive battle as wild and unpredictable as a Wrestlemania spectacular. As the grappling gets rougher and tougher in an industry where takeovers and leveraged buyouts have become everyday events, some contestants are being tossed out of the ring and others are being dismembered or gobbled up by competitors.
The struggle has become more desperate than ever in 1988, with the five-year economic expansion losing momentum. Few economists predict an...
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