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That year, the company adopted the JCPenney style in advertising. [16] and its revenues reached $5 billion (equivalent to $37.6 billion in 2025) for the first time and catalog business made a profit for the first time. [17] JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments. [17]
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The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
The state's annexation set off a chain of events that led to the Mexican–American War in 1846. Following victory by the United States, Texas remained a slave state until the American Civil War , when it declared its secession from the Union in early 1861 before officially joining the Confederate States of America on March 2.
During that decade, the state's population grew more slowly than the rest of the nation, resulting in the loss of one seat on the US House of Representatives, the first loss in its entire history. [174] The estimated state population in 2023 was 38.94 million. [175] For well over a century (1900–2020), California experienced steady population ...
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