Weekly Shop Report
Notoriously slow February transformed into super-slow February last week when two feet of snow plummeted East Coasters into hibernation. So everyone had to stay at home and turn on their own televisions rather than gathering at their friend’s house to watch just one television, making Super Bowl XLIV the most watched U.S. television event ever.
Malls and stores across the country closed or altered their hours due to weather conditions. On the worst day, Saturday, 65 Macy’s stores and 5 Bloomingdale’s locations closed. Target Corp. said the weather disrupted business in 70 of their east coast stores. And the Dow but it closed last week down a hundred points. Retailers are banking on Valentine’s Day and the long weekend to bump up their sales which normally account for $14 billion in U.S. consumer spending. Monday, the Dow was back up near 10,000 and by final bell yesterday, retail stocks were up 1.2% and the Dow pushed past 10,000.
Oh but silly snow can hardly halt New York Fashion Week. Despite the Big Apple’s wintry weather conditions and the anticipated 6-10 inches to come, fashion minions are in full preparation mode. Shows are slated to begin Thursday as planned. The Council of Fashion Designers of America and IMG both noted that there is no room for schedule changes. Immediately following New York all designers, models and industry professionals have London, Milan and Paris. In other words, the show must go on. And we will report on that show next week…in shopping.
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