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Discount retail innovator Ferkauf dead at 91
The retail industry lost one of its legends this week when Eugene Ferkauf, founder of the E.J. Korvette chain of stores passed away at his Manhattan home.
Before Sam Walton or Harry Cunningham opened their first discount stores 50 years ago, Ferkauf established the principles of discount retailing with his stores in the New York area. The first Korvette’s store opening in 1948 and at its peak the company operated 45 stores.