Word: davidowitz
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Stores have to figure out how to tap into this recalibrated value system--one based on caution rather than the branded excess of Christmas past. "The American consumer is trading downward in the most dramatic fashion ever seen," says Howard Davidowitz, chairman of Davidowitz & Associates, a retail-consulting firm. What's more, the thrift mind-set has seeped into all income levels. Saks Fifth Avenue, for instance, had a 16.6% drop in sales in October. "Saving is cool right now," says Candace Corlett, president of WSL. "Conspicuous consumption is out, and people have lost their passion to buy." (See pictures...
...keeping fewer items in stock and many department stores are hiring fewer extra workers for the holidays. Shops selling necessities may weather the Christmas storm best. "The stores that will do well are the ones selling what you have to have to survive and selling it cheaply," says Howard Davidowitz, chairman of Davidowitz & Associates, a national retail consulting and investment-banking firm. Says Barrow, the Burbank TV writer: "Every financial decision I make, I now ask myself, Do I really need this...
...Outfitters and Anthropologie: Two bright spots in mid-priced retail are these sister stores. Both are thriving by investing in competent employees and offering a good mix of merchandise people won't find anywhere else. "They have a unique display selection and a director in every store," says Howard Davidowitz, Chairman of Davidowitz & Associates, a national retail consulting and investment-banking firm.. "No other store looks like them." The catchy windows draw people inside. The funky clothes sell themselves. Chen of Needham & Co. flagged Urban Outfitters as one of the best growth stories in the specialty retail space this...
...biggest wine retailer in the U.S., it attracts a more affluent customer than Sam's Club or BJ's. Robust sales and cost cutting increased the company's quarterly profit 31%, with February sales up 7% over last year. "They have a treasure hunt atmosphere in their stores," says Davidowitz. "They offer constant newness and incredible value...
...consumer budget, according to Bain & Company's retail holiday report. And many people are feeling the pinch from the continuing credit crunch, including higher mortgage costs and the depreciation in home values. "Consumers have the highest debt they have ever had with 24 months of negative savings," says Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail-consulting firm. "They can't use their homes as piggy banks anymore...