2005-11
This lot is closed for bidding. Bidding ended on 10/31/2005
Signature from a letter of “Edward A. Filene”, a progressive in both the retail and social areas, introduced the first "off-price" retailing as President of William Filene's Sons, a Boston dry goods store founded by his father. In 1891, he moved slow-selling goods to the basement, first discounting them by 25% and then taking systematic reductions. Filene's Basement, which operated at a loss for the first ten years, went on to become one of the most profitable operations in retail history.
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