Word: frugalities
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...easy for retailers to hold the line as they face a showdown with frugal shoppers. "Inventories are in good shape, but sales may suffer more than we thought as retailers are forced to blink on promotions to drive traffic," says Jeff Black, director at Barclays Capital, who expects holiday sales to be flat with year-ago levels. (See 20 tech gadgets...
Silly as it is, this matters. Because words shape our world. Ms. is not some trendy modern social contraption. It was first spotted on the tombstone of Ms. Sarah Spooner in 1767, the handiwork, perhaps, of a frugal stone carver. For much of the 18th and 19th centuries, Mrs. and Miss were deployed to signal age, not marital status. Both were derived from Mistress, a word that, before it put on its feather boa and fishnet stockings, was the title for any woman with authority over a household...
...that changed when the stock market collapsed, housing prices plummeted, and credit markets seized up. Not surprisingly, many recent converts to luxury shopping quickly reversed course and went downscale. But what caught retailers off guard was that long-time luxury shoppers grew more frugal, too. The widely publicized bailout of Bear Stearns, the takeout of cash-strapped Merrill Lynch, the government rescue of American International Group, the collapse of Lehman Brothers and the meltdown in the credit markets - all served to rattle the upscale crowd, as many work in the financial industry. Fashionable free-spenders morphed into penny savers...
...store-operations background of new CEO Mike Duke will keep investors quite happy. Though the recession finally caught up to Walmart last quarter, when the company reported a 1.2% drop in U.S. same-store sales, Walmart was a consistent winner during the worst days of the financial crisis, as frugal consumers traded down. While most retailers are shutting down stores, Walmart has opened 52 Supercenters since Feb. 1. Joseph Feldman, retail analyst at Telsey Advisory Group, estimates that each store costs Walmart between $25 and $30 million. In order to continue the momentum that it has picked up during...
...clear, China's phenomenal economic performance is still in many places just a statistic. It's over 1 billion people still lag significantly behind their Western counterparts in the prosperity stakes. The Chinese workforce is diligent and frugal, which contributes to this economic development. The question is, For how long can 10% growth be sustainable? Andrew Bond, Chiang Mai, Thailand...