Word: retail
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Dates: during 2000-2009
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...just as markets from Mumbai to Madrid were freaking out, there was no shortage of explanations as to why. The short answer: U.S. consumers, who have been increasing their spending without pause since all the way back in 1991, are tapped out. They Scrooged their way through the holidays--retail sales were the weakest in five years--and employers started to get nervous. They've dialed down their hiring, sending unemployment inching up 0.3% in December. It might not sound like much, but that's 474,000 fewer people on the payrolls than the previous month--enough for the financial...
...just as markets from Mumbai to Madrid were freaking out, there was no shortage of explanations as to why. The short answer: U.S. consumers, who have been increasing their spending without pause since all the way back in 1991, are tapped out. They Scrooged their way through the holidays - retail sales were the weakest in five years - and employers started to get nervous. They've dialed down their hiring, sending unemployment inching up 0.3% in December. It might not sound like much, but that's 474,000 fewer people on the payrolls than the previous month - enough for the financial...
...planet's GDP, no longer controlled the economic fate of everyone else, the thinking went, thanks to the rise of the global consumer, Europe selling to Asia, Asia selling to Asia. And so the increasing number of signs that the U.S. was headed toward recession - falling retail sales, weak jobs numbers, a cratering real estate market - were not really so worrisome. Even if growth in the U.S. lagged, everyone else would be just fine...
...telephone. Thompson was still at home in suburban Virginia. That same weekend a reporter spotted him shopping with his wife at Neiman Marcus. And while he eventually did make it to Iowa and doggedly crisscrossed the state, a few focused weeks couldn't upend the months of legwork and retail politicking done by his rivals...
Walk into Marc Jacobs' newest retail outpost in Manhattan's West Village, and you're likely to see eager shoppers snapping up his signature thermal-style cashmere sweaters, brass-buttoned military jackets and floral-print peasant blouses. As for the must-have accessories? They might pick up a few stuffed animals or a baby blanket or two. These days Jacobs' trendy customers are as aware of the fashion image of their offspring as they are of their own. Thus they are flocking to the hip designer's Little Marc boutique, which opened in November...