Business
US retail bloodshed has echoes of the Great Depression – Sydney Morning Herald
The bloodletting that’s taking place for US retail right now is eerily reminiscent of what happened during the Great Depression.
That changed, though, with the advent of the first chain stores. These included general-merchandise stores like Woolworths, which sold cheap factory-made goods, and the Great Atlantic & Pacific Tea Company, better known as A&P. These and other early chains pioneered new methods of retailing that eventually became the norm.
As historian Marc Levinson has shown, A&P began building stores that were the forerunners of today’s supermarkets. A&P sold standardized packaged foods and built stores with predictable…
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