Word: chen
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...bought by Associated Dry Goods in the late '70s, it lost its edge as a fashion leader. May Co.'s 1986 acquisition only contributed to their downward spiral. "Lord & Taylor was the golden jewel in May's portfolio, but [the owners] didn't focus on it," says Christine Chen, a retail analyst at Needham and Co. Upscale vendors began to bow out. "When I took over [as CEO] in 2000, there was no difference between us and May Co. stores [Macy's and Filene's] at the other end of the mall," says Elfers, who has worked at the store...
...merchandise, discarding $350 million worth of retail volume. Out went Liz Claiborne, Tommy Hilfiger and Nautica to make room for Coach, Kate Spade and Tommy Bahama. "The big theme that drives retail is getting back control of the brand, which is what they've tried to do," says Chen. "The Starbucks theory [of always expanding] doesn't work for fashion." Since 2003 Lord & Taylor has replaced 85% of its merchandise and reduced its style count 45%. The current 47-store chain is more akin to a specialty store: manageable, edited and easier to shop. "I think there will...
What's in a name? For Taiwan, the answer may be its survival. The latest political gambit by outgoing President Chen Shui-bian has both elicited veiled threats from China and pitted his country against its main ally, the U.S. At issue is the name under which Taiwan intends to apply to regain membership in the United Nations. Chen has called for a referendum next March on whether the island should forgo its official name (the Republic of China) in favor of Taiwan. It's a provocative gesture, as it would seemingly codify Chen's contention that the island...
Hoping to maintain the tenuous peace between Taipei and Beijing, which considers the island an inseparable part of China, U.S. Deputy Secretary of State John Negroponte has called Chen's proposal "a mistake," urging Taiwan's leaders to "behave in a responsible manner." China's Taiwan Affairs Office warned that it has "made necessary preparations to cope with any serious situation" across the strait. Yet the criticism does not seem to have dampened enthusiasm for the referendum. On Sept. 15, more than 100,000 people rallied to support the idea in Taiwan and New York City. And Chen--whose government...
...smile. That smiling face, Hu says, is the one that Beijing is presenting to the outside world. But within China, he says, conditions are worse than ever. "It's a policy of 'soft to the outside, strict within,'" says Hu. He recently hosted the wife of blind lawyer Chen Guangcheng, who is serving a four-year sentence ostensibly for disrupting traffic but almost certainly because of the embarrassment he caused the government of Shandong province by publicizing cases of forced sterilizations and abortions by family-planning officials. After escaping from house arrest in Shandong, Yuan Weijing spent nearly a month...