Word: digitalizing
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...have," he recalls. "There were more Italian clothes than English ones." So Lauren presented the Brits with what he thought they should be buying: tweed jackets, jodhpurs, polo shirts. The New Bond Street store proved so successful that Polo added a second big store nearby, which has enjoyed double-digit growth since it opened...
...first, Europe. In 1998 the company spent $200 million buying back its key licensee, Poloco SAS of Paris, which had been managing to increase sales in only the single digits, compared with double-digit growth in the U.S. And last summer Polo Ralph Lauren spent another $22 million buying out its Italian partner, PRL Fashions of Europe. A key Polo lieutenant, Lance Isham, moved from the company's New York City headquarters to London to oversee the company's international development, and an Italian, Gian Luigi Longinotti-Buitoni, who had most recently been CEO of Ferrari North America, was hired...
There's nothing more American than a second chance, and you're getting one right now. Interest rates that briefly hit three-decade lows last fall are tumbling anew, giving those who missed out another shot at dream mortgage rates, 0% financing on cars, and single-digit credit cards. Falling rates have a dark side: pitiful interest income on bank deposits and other savings. They could also signal economic malaise. So take advantage of the benefits...
...through an almost classic waterfall and are due for at least a decent rally for a while. Where I take issue with other people is in the longer-run outlook for equity returns. You have to be a wild bull on U.S. earnings growth to get even high single-digit numbers out of the S&P 500 over the next five to seven years...
...Japanese have stoically endured recession, do-nothing politicians and the male makeup craze, but even a conformist society has certain hot buttons that are better left unpushed. Last week's launch of a computerized national ID system, which tags every citizen with a unique 11-digit number, triggered vehement protests throughout the country by those who fear Big Government is getting an efficient tool to invade their privacy. Some local prefectures refused to go along: Yokohama, the country's second-largest city, made participation voluntary, while three other municipalities opted out. Similar ID-card networks are being introduced in Malaysia...