Word: davidowitz
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...leased 73% of its space thus far - does open in 2009, it would be the only enclosed mall to debut this year, according to the ICSC. Xanadu is the lone ranger, running straight into every possible horrible economic headwind. "It's the poster child for bad timing," says Howard Davidowitz, chairman of Davidowitz & Associates, a national retail-investment-banking and consulting firm...
Talbots The specialty clothing retailer, which targets women over 35, has run out of steam over the past year. Talbots' same-store sales were down 13.9% in the third quarter of 2008, and the chain lost $14.8 million during that time. "They look dead in the water," says Howard Davidowitz, chairman of Davidowitz & Associates, a retail-consulting and investment-banking firm...
...made mistakes, and is focused on getting our financial house in order as an immediate priority." Borders stock has flirted with a New York Stock Exchange delisting; it closed at 52 cents per share on Jan. 27, a 95% drop over last year. "They're in survival mode," says Davidowitz. But how can the company stay afloat when the economy has turned against the whole industry (even Barnes & Noble is struggling), and when big boxes like Walmart and Target are moving into the book-selling game? "Borders has to give people a reason to shop there," says Norris, starting with...
...effort to emerge as a leaner operation. The other three plan to liquidate altogether, a trend that is on the rise as a result of the lack of potential buyers for troubled assets and a tightening of credit offerings by banks. "The days of restructuring are gone," says Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail-consulting and investment-banking firm. "No one will give you the financing." (See pictures of the global financial crisis...
...Still, there are a few bright spots this Christmas season. Urban Outfitters Inc. has distinguished itself with stylish merchandise that stands out, while teen retailers Aéropostale and Buckle have posted positive same-store comparisons by offering good value. Says Davidowitz: "You have to be either really cheap or really different and really right to do well in this market...