Weekly Shop Report
Saks is dressed in black for the holiday season. Rachel Roy is all smiles. Gail Strickler talks trade, this week...in shopping.0
Tears for fears of TARP failures, worry for Christian Lacroix’s shaky bailout and the painful decline of French Connection could have us in another consecutive week of retail worry. But not this week. No siree. Because black is the new black (finally) – at least for Saks and Dillards. Barney’s is smiling after sales gains. H&M floods thanks to Sir Jimmy Choo. And if that weren’t enough reasons to shine, Macy’s is perpetually upbeat about the holiday season making Rachel Roy, Michael Kors and Mr. Max Azria smile ear to diamond studded ear.
In other news, Gail Strickler, the U.S. Trade Rep for the department of textiles maintained last week at the WWD CEO conference that President Obama is committed to brokering solid trade agreements and maintaining U.S. jobs supported by trade, which, on average, pay 18% higher. Strickler is “on our side,” according to fashion bloggers nationwide, and has promised the textile office’s effect on strengthening current trade policies and addressing implementation issues worldwide.
And in the stock wrap, American Apparel, Target, Revlon, Ann Taylor, Talbots and Perry Ellis were in the black while FCUK, Pacific Sunwear, Joe’s Jeans, Frederick’s of Hollywood and Phoenix Footwear were covered in red. But the Dow holds above 10,000 and retail sales beat October estimates if only by a slim margin. (Not the “surge” reported by CNN, but we’ll take what we can get.)
Heading into the holidays, we can’t expect too much from American’s sans sustainable income. It’s a slow road to the top, but at least we are going up hill. Until next week – LOOK FOR A JOB – and we’ll report back.
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