Word: stores
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...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...
Tragic news broke today that Harvard Square has completed its slow turn toward gentrification with the impending shuttering of Herrell's ice-cream store on Dunster street. The Crimson's Athena Jiang reports that the owner cited rising food costs, sky high rent, and of course, JP Licks for their mounting financial woes...
...liked... that the Boston retail community embraced was to get creative about engaging the customer,” Calderin says. “Yes, we want to make the sales, but how are you going to stand out from the next person?”For most Boston stores, this initiative is more than a one-night engagement. In the case of an e-commerce site like Jute and Jackfruit, consistently catching the eye of potential customers involves making its brand visible beyond the Internet. Yansen runs a booth each month at Design Hive, featuring environmentally friendly clothes and accessories...