Word: fiscal
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...their spending patterns that excite entrepreneurs like Mafatlal. In spite of the maharajas' opulent purchases of old, India has had a tradition of fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world's youngest populations (more than 200 million people between the ages of 15 and 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world's largest democracy bringing brand awareness, plus the reduction of once punitive import taxes, and India starts looking...
Heinz Krogner, Chief Executive of clothing designer and retailer Esprit, is one of the world's great turnaround artists. A decade ago, Esprit was a declining casual-clothing business. But Krogner rebuilt Esprit into one of the fastest-growing apparel retailers. Sales in the past fiscal year, which ended in June, probably topped $3 billion, nearly triple its revenues in 2001. In those five years, Esprit's market value has increased eightfold, to more than $10 billion, roughly on a par with Limited Brands and almost twice the size of Abercrombie & Fitch...
...stores and now has 15 stores and outlets, most of them in the New York City area, including a flagship in hip SoHo. Again, some of those locations flopped, so Krogner dispatched COO Jerome Griffith to oversee the U.S. operation. Krogner also plans to open five more stores this fiscal year in ultra-prime locations and intends to focus on the region from Boston to Washington...
...could take five years, Krogner says, for Esprit to gain traction in the U.S. market. But he's starting to see some positive results. U.S. sales surged 83% in the first half of the 2005-06 fiscal year. "Why shouldn't we make it in America?" he asks. "It's our home." Or at least...
...which is less than 10% of the total. In terms of error types, there were 169 pilot deviations, 105 operational errors/deviations by controllers, and 53 vehicle/pedestrian deviations. While pilot deviations are the most common type of runway incursion, they accounted for only 31% of serious incursions in the past fiscal year...