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Since 1899, the Renier family has conducted a retail
business in Dubuque. Beginning in the 1950's, the Renier Company
(Renier) switched its business focus from musical instruments to
the sale of televisions and stereo equipment. In the 1980's, it
expanded its product mix to include video camcorders and VCR’s.
On the valuation date, televisions and VCR’s comprised 47
percent of Renier’s sales, with audio systems and components
making up another 40 percent, and camcorders and car stereos
constituting 10 percent. Another 2 percent of Renier’s sales
consisted of batteries and electronic accessories, while the
remaining 1 percent consisted of cordless telephones. The
national annual compound rate of growth from 1989 through 1993
for televisions and VCR’s was 4.99 percent; for audio systems and
components, 3.07 percent; for camcorders and car stereos, 3.27
percent; for batteries and electronic accessories, 9.44 percent;
and for cordless telephones, 5.95 percent. When weighted to
reflect the percentage of sales by Renier for each product area,
the national annual compound rate of growth for Renier’s product
mix from 1989 through 1993 was 4.15 percent. Renier’s actual
sales increased at a compound rate of 8.3 percent from July 1988
through June 1993. However, the majority of Renier’s growth
during that period occurred between July 1, 1992, and June 30,
1993, during which time sales increased 22.7 percent in part as a
result of a major flood in the area that caused many residents to
replace their consumer electronic products. Considering only
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Last modified: May 25, 2011