Evening star., 1960-08-05
TALKING OF BUSINESS
Biggest Pharmacist Expanding
Choin for Discount Drugs
By WILLIAM MacDOUGALL
Star stan Writer

By WILLIAM MacDOUGALL
Star stan Writer
Albert Pearlman is a big
man In a tough, competitive
business.
Six feet Z inches tall and
built like a tackle, he jokingly
describes himself as "the
worlds biggest pharmacist"
He does not joke, however,
In discussing his business,
Save-Mor Drugs, Inc, of which
he is president.
This is a highly competitive
business. a really tough busi-
ness" he noted. There is no
place in it any more for some
body not familiar with the
latest in cost accounting, in
buying drugs and meeting
overhead costs. In short, he
has to be a merchant"
Mr.. Pearlman evidently fills
those qualifications as neatly
as he fills a prescription. A
pharmacist who was graduated
from the University Of Mary
land in 1888, he entered busi-
ness in Washington after his
discharge from the Army In
1916.
Bought Out Partner
Il started as a partner in
the McReynolds Pharmacy at
Eighteenth and G (streets
N.Wo." he recalled. Then I
opened Discount Drugs at
Twelfth and E (streets N.WD
in September, 1857, and bought
out my partner at McReynolds
in 1883"
Later that year, he opened a
store In Bethesda and added a
fourth a few months later on
Wisconsin avenue. In 1859, Mr..
Pearlman ofiicially launched
the chain with its present
name. Save-Mor, and offered
to the public 100000 shares of
stock, which were purchased at
81 a share. Mr.. Pearlman re-
tanned 100000 shares.
The company last year re-
ported gross sales of 81, ,944, 900,
with earnings of II cents a
share. "and forecasts a volume
OF So million this year.
Since the first of the year,
Sav-Mor has opened three new
stores at Eleventh and D
streets NV; Viers Mill road
and Connecticut avenue, Whea-
ton. and in the Fort Dupont
Shopping Center. Alabama and
Pennsylvania avenue Sc.
Soon to Be Nine
Two other stores were sched-
uled to open this week or next
in Northern Virginia for a total
OF nine. The president said he
is negotiating for operation of
still another outlet on a fran
chise basis-which he frankly
labels an experiment" for his
firm.
A former independent drug
gist himself. Mr.. Pearlman is
acutely aware of the individual
merchants problems.
With his trouble getting
proper personnel and adequate
capitalization" Mr.. Pearlman
said. a number Of independ-
ent retail druggists are caught
in a squeeze between the rapid
ly expanding chain stores and
the discount stores"
He said many independents
are unable to compete with the
chains for the prime locations
in new shopping centers or
with the lower price induce
ments which the discount stores
offer to make up for their lack
Of Al locations"
Mr.. Pearlman believes "the
only alternative for the inde-
pendent is to ally himself with
an aggressive discount opera
tion. Then he can share in its
good will. advertising strength
and buying power-but retain
ing control of his own business
and the personal contact which
has made independent druggists
an asset to the community.
| Wide Open Areas
The executive. a native Of
Baltimore, conceded that
washington is saturated with
discount drugs" But outside
the area. he commented, there
are wide open areas" for dis
count operations.
He said he Is strongly con-
sidering expansion to the south
and west.
"The discount field is ex-
ploding." he maintained. THE
old druggist used to work on a
40 per cent gross profit. but
today we operate on % per cent
"a saving of at least II per
cent to the customer overall
k@kAN