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Retailing is a high-tech, global, growth industry that plays a vital economic role in society. The authors' objective in preparing the eighth edition is to stimulate student interest in retailing courses and careers by capturing the exciting, challenging, and rewarding opportunities facing both retailers and firms that sell their products and services to retailers, such as IBM and Proctor & Gamble. The textbook focuses on the strategic issues facing the retail industry and provides a current, informative, 'good read' for students. The eighth edition maintains the basic philosophy of previous editions while focusing on key strategic issues with an emphasis on financial considerations and implementation through merchandise and store management. These strategic and tactical issues are examined for a broad spectrum of retailers, both large and small, domestic and international, selling merchandise and services.