Weekly Shop Report
Troubled timepieces. Gucci tweets. Why we don't get malls. And all I want for Christmas, this week, in shopping.0
Bling. In the wondrous land of luxury little LVMH elves pop bottles of Moet and sing celestial hymns. Unfortunately, that wondrous land is not the U.S. of A. Bernanke
Captain Obvious says Asia is leading the recovery. While America, which represents 1/3 of the luxury market, has been hit the most. Around 2011 or 2012 Amerrrrricans will resume buying shiny timepieces. Follow Gucci on Twitter, but don’t expect discount tweets because PPR sales dropped 7.6% in Q3.
Mall Madness. In case you are visiting your sister in the Jers, in malls across America Genesco (Lids, Journeys, Dockers), Pacific Sunwear and Joe’s Jean are in the green while their competitor, Zuniez (oh, you don’t know what that is? Neither did we! It’s a store in malls.), Cache, New York & Co. and poor, poor FCUK are in the red. Hot Topic is also in the red, but that’s because they ran out of pleather devil tails. We aren’t sure why the same companies are in the top ten green one week then the top ten red the next, but we will ask an expert and get back with you.
CIT…Again. So Carl Icahn took a break from his busy horse-breeding schedule to write a letter to the CIT Board offering to lend CIT $6 billion in an effort to save bondholders from voting for debt exchange. But, and we are no experts (see above), isn’t that just trading debt for different debt? We thought CIT aimed to trade debt for equity, and now we are confused. So is everyone else, and CIT says they will likely file for Chapter 11 protection anyway and requests Mr. Icahn clarify his, er, offer.
But the Dow holds 10,000, which is good news for us since all we want for Christmas is an autographed pair of Christian Louboutin’s Barbie Shoe. And in case that wasn’t clear: ALL
WE I WANT FOR CHRISTMAS IS AN AUTOGRAPHED LOUBOUTIN BARBIE SHOE.
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