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...recession has been good to McDonald's. As consumers trade down to cheaper, faster food on the go, McDonald's has kept up its growth during the downturn. Same-store sales rose 4.3% for the quarter that ended March 29. Profits were up 4%, to $980 million. In this economy, that's an explosion...
...fact, the First Lady has been a one-woman stimulus package for the suffering fashion retail industry. Designers, store buyers, shoppers and stock investors are all watching her every move. And she has been in the White House barely 100 days. "She's the first thing my clients want to talk about," says Jennifer Black, president of Jennifer Black & Associates, a retail equity research firm. "She's a huge deal. And I don't think this is a short-term thing. Sometimes you get a flash in the pan, but that's not going to be the case with Michelle...
...First Lady has sparked retail sales for her chosen brands, it's too early to anoint her a savior. "Michelle Obama hasn't done enough to significantly change the financial performance of J. Crew and Talbots," says Betty Chen, retail analyst at Wedbush Morgan Securities. J. Crew's same-store sales fell 13% in the fourth quarter of 2008. The company lost $13.5 million, compared with a $25 million profit in the fourth quarter of 2007. Talbots has updated its merchandise to fit its repositioning as a younger company. According to Chen, however, the company is too indebted to revamp...
...First Lady might save another retailer, Talbots, from extinction. The company lost $128.4 million, excluding special charges, in the three months ending Jan. 31, compared with a $7.1 million loss the previous year. Same-store sales fell 14.2% for the year, and an incredible 24.6% in the fourth quarter. Over the past year, the company has desperately tried to reposition itself from a frumpy brand for the over-50 set to a stylish look for the new sophisticated 40-something. In early April, the May issue of Essence hit newsstands, with Obama wearing a $169 Talbots silk dress...
...Macy's fashion director Nicole Fischelis says that bright-colored cardigans, sleeveless sheath dresses - you might have heard that the First Lady likes to show off her arms? - and the pencil skirts Obama favors are among the best-selling items in the store. If you could choose any woman in the world to wear Macy's dresses for a week, would it be the First Lady? "Without a question," Fischelis responds. Bloomingdale's is highlighting sleeveless sheath dresses in its catalog and stores. "She influences the decisions of every single buyer that goes into a showroom," says Stephanie Solomon, fashion...