Word: gap
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...modest brick building in central Stockholm and run by a large group of mostly Swedish designers who cull the hippest looks from the multitude of styles emitted by TV, music videos, the street and the runway. With annual sales of about $6 billion, H&M is smaller than Gap Inc. (sales top $15 billion, and the Gap brand represents 46% of that) but bigger than its closest rival, Zara, which reports annual sales of just over $4 billion, nearly three-quarters of its parent Inditex's total...
What sets H&M apart from most competition is its lightning turnaround--a garment can move from design to hanger in just 20 days. (Only Zara can go faster--14 days--but its prices are 30% to 50% higher than H&M's. By comparison, Gap's minimum turnaround is three months, though almost all the merchandise is produced in nine.) As a result, H&M can add looks that weren't in its collections or increase quantities if an item takes off. For example, last fall, when mod miniskirts began to sell, H&M tripled the original order...
...TIME editor-at-large Nancy Gibbs will discuss Bush's credibility gap with Charlie Rose, part of a continuing collaboration. On Feb. 11, Style & Design editor Kate Betts will discuss the most powerful women in fashion. Check www.charlierose.com for details...
...York City tailor Thom Browne, the skinny leg is in. Designers like Dolce & Gabbana and Ralph Lauren are waving so long to the slouchy oversize look, showing pencil-thin suits straight out of a 1960s Sears catalog. Even at mass-market retail stores like H&M and the Gap, the new style for spring is narrow jeans cropped at the ankle. The move toward the straight and narrow was launched in large part by Browne, 38, who favors what he calls the Congressman suit--the lean look favored by J.F.K. when he was a junior Senator. Browne...
...Shipler aims to do in The Working Poor: Invisible in America (Knopf; 319 pages) is to produce a picture of all of those dominoes at once, the multitude of obstacles that keep the working poor on the edge--and sometimes beyond the edge--of household-finance disaster. As the gap between the highest-and lowest-paid workers steadily worsens, he writes, "low wage employees have been testing the American doctrine that hard work cures poverty...