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Lewis, who unveiled the main contours of his revival plan last month, disclosed to staffers that the newspaper lost $77 million last year and 50% of its audience since 2020.
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The off-price retail model relies on the purchase of over-produced, or excess, branded goods at a lower price, thus being able to sell to consumers at a discount compared to other stores which purchased an initial run. Among the largest retailers of this type are TJX Companies and Ross Stores.
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By the beginning of 1999, Johnson & Johnson had expanded the ElderCare unit to 136 salespeople from 83, and the materials they were using to pitch doctors had caught the FDA’s eye.
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