Word: retail
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...unprofitable firms to keep them afloat. These companies came to be known as zombie firms - they appeared to be living but were actually dead, too burdened by debt to do much more than live off further handouts. One economist called Japan a "loser's paradise." The classic zombie was retail chain Daiei, which limped along for years, crushed by debt and multibillion-dollar losses, as banks kept bailing out the firm. Daiei, with nearly 100,000 employees at the time, was considered by politicians too big to fail. It was only after Japan began solving its zombie problem, rather than...
...Retail, a sector battered by the slowing economy and consumer spending, presents a similarly nuanced picture. Among the most brutalized have been rubber-shoe maker Crocs (down 96%, to $1.52), bookseller Borders (down 93%, to $0.71), home furnisher Pier 1 Imports (down 90%, to $0.51) and casual eatery Ruby Tuesday (down 86%, to $1.38). But there have been standouts too. Some are thrift-conscious companies that make for classic recession plays: Dollar Tree (up 61%, to $41.61), 99 Cents Only Stores (up 39%, to $11.05), Family Dollar (up 27%, to $24.51) and Wal-Mart (up 15%, to $54.63). Others, though...
...Apple. Unless he makes a public appearance, it's likely that the news will continue to hammer Apple's stock, which took a beating Monday after analysts downgraded it. (It dropped more than 2.5% within a few hours of the announcement.) A report by the NPD Group, which tracks retail sales, showed that Apple store sales declined 1% in November compared with a year ago, even at a time when PC sales increased 2%. Analysts, extrapolating to the pending post-holiday doldrums, when No One Will Buy Anything Ever Again, deemed this significant. If people stop buying stuff, that goes...
...stores and restaurants. Jillson said that while the association is always looking for new ways to reach out to wider shopper demographics, shops and restaurants are making an extra push to reach out to customers this winter in light of the economic crisis. “We are encouraging retailers to join Sparklefest events, to remain competitive, and keep their doors open and lights on,” she said. Jillson said that Harvard Square businesses have been doing well as a whole, but also said that it is important for HSBA to support the locally owned shops, which?...
...like the biggest drop in same-store sales, the largest decline in home values, and the longest decline in purchases since record keeping began. A record that probably drew less attention, though, was the one-day sales record for a computer game. In a month when, despite holiday shopping, retail sales actually fell 1.8 percent, Blizzard sold 2.8 million copies of their new World of Warcraft expansion, “Wrath of the Lich King,” at $40 a pop and in just...