Word: santas
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...sales statistics released by the Commerce Department on July 14, June department store sales dipped 1.3% compared to sales in May of this year, and were down 9.4% compared with June of 2008. So to prop up sales before the back-to-school season, one major player is asking Santa, of all people, for some help...
...move, however, may also send a more downbeat message to some shoppers. "It looks more like desperation than inspiration," says retail consultant Burt Flickinger III, managing director of Strategic Resources Group. "It may be a sign that Kmart's spring and summer inventory is not selling through." And Santa certainly isn't going to save Sears and Kmart, retailers that seem increasingly irrelevant in the Walmart/Target/Home Depot world. For example, as Morgan Stanley analyst Gregory Melich writes in a recent equity research report, "Sears Holdings' underinvestment in stores has degraded its ability to withstand the magnitude of the current pullback...
...Overall, I think you're going to see a lot of this on the retail front," says Blackshaw. "They're going to be looking for novel strategies to drive competitive advantage, even if they have to rethink the typical calendaring of events." In this depressed retail environment, however, can Santa deliver the goods...
...pretty small. Furthermore, according to Nielsen, 60% of users drop out after a month. "Once just a fad"? Sounds like it's still a relatively small and concentrated fad. Members of the media never grasp that they are not representative of the country as a whole. Barb Neff, SANTA MONICA, CALIF...
...practice may date back as far as the 13th century, but it is known to have continued virtually uninterrupted since 1592, when the festival was moved from September to July. People are thought to have joined the herd sometime in the 1800s. (See pictures of Spain's Semana Santa festival...