Weekly Shop Report
Halloween helps Hot Topic, teens save retail, and Mrs. TARP plots to single-handedy save the charter airline industry this week...in shopping.0
While Bulgari was the lone cheese of luxury and Wal-Mart continued to trap fashion-starved costumers, the clouds parted and the retail angels, clad in Christian Lacroix feathered wings and LV monogrammed togas, stood up from Conde Nast shiva to sing alleluia as retail stocks rose.
The 5.9% step into the greener pastures reminded us that while we love red lips and feel hot in red dresses, when it comes to our portfolios, green is golden. Delia’s-sporting teenagers in Nebraska had their allowances reinstated and east coast teens mirrored them Bluefly style. While Hot Topic isn’t our favorite, er, topic, mazel tov for creeping into the green even if directly related to early Halloween costume purchasing.
Amidst the battle for bondholder support for CIT’s proposed debt swap, Chairman and CEO, Jeffrey Peek, is set to step down at the end of the year. He will stay on to lead restructuring efforts aimed at returning profitability. Looks like
Mrs. TARP his wife, Liz Peck, won’t have to worry about media scoldings for her Spring 2010 wardrobe purchases. Tired of “flying below the radar,” her pointless personal assistant is on the phone with their former charter company as we speak. If they couldn’t save CIT, maybe they can single-handedly save Wichita. After all, no plane, no gain.
Poor Versace shuttered stores in Japan. Textile imports continued to decline. William Lauder flailed his arms, and company execs realized that they may need to focus their resiliency plan somewhere besides eye cream. Levi’s had a shitty 3rd quarter, Chole won a lawsuit and Forever 21 will continue stealing designs even though they settled with Trovata. Obama sent consumers more mixed messages urging both saving and spending. And CNN Money depressed New Yorkers by asking what they would do with an imaginary $10K.
(We wouldn’t think twice about blowing it on thigh high Louboutins boots, several bottles of 1995 Dom and an eight ball…or two.)
Oh, here we go. Yohi Yamamoto brushed by bankruptcy citing loss of direct control as the main reason Y’s and Y-3 won’t move off shelves. Or their “intellectual customer” base (thanks Robert Burke!) were too smart to purchase $600 sneakers during the depression.
Like I said , no plane, no gain. Let that be our matra this week…in shopping.
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