Word: stores
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Dates: during 2000-2009
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...fashion editors, department store buyers and couture afficionadoes congregate along the catwalks for New York's Fashion Week shows, luxury retailers and designers may be looking upon beauty but their thoughts are likely on the ugly economy...
...analysts scan the landscape they see a virtual Who's Who of battered luxury chains. "Saks and Neiman's sales are horrendous. Tiffany was down 27% in U.S. same-store sales last quarter, Bulgari was down 21%, Harry Winston sales were down 49%, and [LVMH Moet Hennessy] Louis Vuitton down 23%," says Howard Davidowitz, chairman of Davidowitz & Associates, a retail consulting and investment banking services firm. "If you look at Madison Avenue, it's a ghost town in terms of store closings. It's an absolute disaster." (Read "How Consumers Shop Differently Today...
...this took a toll on sales and earnings at upscale department stores and chi-chi fashion houses around the world. Luxury department store sales are down 25% to 30% on average from their peak in early 2008, estimates Aggarwal...
...continued operation impractical, if not impossible.Instead, Stanett said he plans to open a casual restaurant by next spring in an expansion of Herrell’s current location, which he plans to call First Printer Restaurant, Bar, and Grill.Stanett said that labor and materials expenses have grown for the store, and rent has shot upward of $10,000 per month. Consequently, the ice cream shop has not turned a profit for the past 4 or 5 months and has taken subsidies from Stanett for the last few years.But the single largest factor in Herrell’s closing may have...
...General Merchandise Manager Nancie E. Scheirer said she has seen tourists, locals, students, and parents purchasing the book. “We love it when we have books that are relevant to the community. We really believe it will sell,” Scheirer said. The Harvard Book Store set up a display in its storefront as well as inside the shop using photos from the book. Cambridge-centered displays are typically geared toward tourists, said Heather L. Gain, Harvard Book Store’s marketing manager. But Gain said she believes the display will attract Cambridge residents as well...