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Competing in Tough Times: Business Lessons from L.L.Bean, Trader Joe’s, Costco, and Other World-Class Retailers by Barry Berman

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Individual and Composite Financial Performance, Customer Service, and Worker Satisfaction Metrics of the Best-Practice Retailers

Introduction

Here we explore the financial performance of each best-practice retailer. Justification is provided for each retailer’s being chosen as a “best-practice” firm. The best-practice retailers represent a diversified group that includes six food-based retailers (Aldi, Publix, Stew Leonard’s, Trader Joe’s, Wegmans, and Whole Foods), a warehouse club (Costco), a specialty retailer (L.L.Bean), a department store (Nordstrom), and a web-based retailer (Amazon.com). The six food-based retailers range from extreme value merchants (Aldi) to specialty food retailers (Trader Joe’s and Whole Foods) and also include ...

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