Weekly Shop Report
Farewell Bryant Park, retail stocks up, up and away, and J.Crew goes global this week...in shopping.0
Farewell to the tent the fashion industry has called home (and home base) since 2002 in Bryant Park. We will surely miss the old locale where we could hop over and seek refuge just beyond the guarding Patience and Fortitude. Although next year we’ll seek in in the park! But we’ll be cold in the park. In short, dear Bryant Park, we will miss you so.
In other fashion news, Nordstrom’s profit rose 153% in the fourth quarter. Talbots, Bebe, Marks & Spencer, lululemon athletica, Pacific Sunwear and our old friend’s at Phoenix Footwear couldn’t manage such luck and finished in the red last week. Joe’s Jeans did, however, for once end the week victoriously in the black alongside other often losing companies like Cache, New York & Co., and Zale. Oh how the stock flip flops like as easily as a dirty politicians…or a clean one at that. Retail stocks overall, however, were up 3.5% for the week. Target, Sears and Macy’s celebrated in black victory.
In other dark news, Burlington Coat Factory was ordered a payout to Fendi. According to WWD, “A federal judge ordered Burlington Coat Factory Warehouse Corp. to pay Fendi $4.7 million for violating a decades-old injunction barring the off-pricer from selling the luxury brand’s trademarked goods without permission.” Tsk. Tsk. Tsk.
Currently, buyers are still on Cloud 9, riding the Fall 2010 Fashion Week high. Burberry is killing Fashion week London, and in our personal favorite news, J.Crew partners with Net-a-Porter to take the preppy brand global. Watch out world! It’s ribbon belts and critter pants for all. At least until next week…in shopping.
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