But no one was surprised when Zavelle was removed from his post and replaced by Howard W. Davis.

The new management team, led by Davis, was able to raise rebates the subsequent year to 4 percent on cash purchases and 3 percent on credit purchases. The Coop also changed its rebate system in the 1971-72 school year to give the same rate for both cash and credit purchases.

The Coop's successful financial recovery continued throughout the 1970s and 1980s, with the rebate nearing the 1966 level of 10 percent in 1989.

In recent years, however, the Coop has once again experienced financial difficulties, impacting directly on its ability to deliver on the rebate.

In 1990 the rebate dropped to five and a half percent, and in 1993 the rate plummeted to a minuscule one percent.

1994 was the first year in which the Coop operated in the red and was also the first year that the Coop did not offer a rebate. Since then, the store has not offered a rebate to its members.

Coop officials are hopeful that the store can once again rebound as it did after its 1971 difficulties.

According to current Coop President Jeremiah P. Murphy '73, the store is working to restore the rebate because its management believes its customers value the traditional refund.

"Most members judge the success of the Coop on its rebate," Murphy says. "I think in many ways, we've conditioned people to look at the rebate."

The Coop is also in the process of restructuring in order to adjust to changing market conditions. The Coop has hired Barnes and Noble Bookstores to manage its stores and has embarked on a major renovation project.

Murphy says he sees many similarities between the store's troubles in 1971 and those of 1996.

"25 to 30 years ago, selling suits was a big business, but not anymore," Murphy says. "The Coop had troubles because it had to adjust to serving a co-ed campus."

Murphy says he believes the Coop must now attempt to change the focus of its sales as it successfully did in 1971. Murphy says that the Coop must "get back to its roots" as a campus store, rather than attempting to be a department store for the general public.

"Rather than be a department store we wish to become more of a collegiate or academic book store that might also sell ties," Murphy says.

Murphy says he is confident that the Coop's new strategy will lead to renewed profit, allowing the store to again offer rebates to its members.