March 31, 2008
The Canary in the Retailing Coal Mine:“J. C. Penney on Friday slashed its earnings forecast for the first three months of the year by 33 percent, blaming an outright drop in consumer spending that bodes poorly for competitors . . . chief executive of Penney, Myron E. Ullman, said that ‘consumer confidence is at a [...]
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March 29, 2008
It’s Your Fault Those Shoes Cost So Damn Much:‘”Footwear is having its runway moment,’ says Marshal Cohen, chief analyst for New York market research firm NPD Group. Designers are ‘raising the cachet of the brand by having one extravagant style, and that one makes the other pairs seem more reasonable’ . . . the going [...]
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