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July 1988 through June 1992, Renier’s compound annual growth was
just 3.8 percent.
Renier’s retail operation consisted of a single 7,200-
square-foot store located in a strip mall in Dubuque. Renier was
open for business 68 hours per week: 11 hours a day on Monday
through Friday, 8 hours on Saturday, and 5 hours on Sunday. In
1994, the city of Dubuque had an estimated population of 57,840.
Dubuque’s population had declined over 7 percent since 1980 and
was not expected to grow rapidly after the valuation date.
On the valuation date, Renier had seven employees, including
Kent and Maria Renier, decedent’s son and daughter-in-law (Kent
and Maria). Kent served as store manager and as a salesperson,
and Maria performed clerical and bookkeeping functions. Kent was
also responsible for about one-third of Renier’s total sales. At
various times during the 5 years and approximately 9 months
preceding the valuation date, decedent and five other members of
his family were employed by Renier. Until September 1993,
decedent remained active in the business, meeting customers and
handling Renier’s advertising and finances. After September
1993, health problems prevented decedent from working the sales
floor, but he continued to be involved in Renier’s advertising
and finances.
Renier’s primary competition consisted of national retail
chains which operated stores in the Dubuque area. These chain
stores offered a much broader consumer electronics product
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Last modified: May 25, 2011