Weekly Shop Report
Oh Wall Street, can't you just let us have fun? This is Fashion Week.0
Sure it’s Fashion Week this and Fashion Week that – plus so much better than Fashion Week Fall 2009 with the depression fears caused designer pull-outs. This season, the tents are rockin’, the after parties hot, and everyone whose anyone – or no one at all – is out to celebrate the end of the sucky summer and the start of fall -by and large, Manhattan’s best season. TVC is as guilty as any ready-to-wear craving consumer of Fashion Week indulgences, but the industry is much more than one star-studded week. So take off your rose-colored glasses and peer into the window of this week in shopping.
Bernard Anault clenched his bubbly and laughed maliciously while Richemont sales fell 16 percent. Thirty-something women city-wide bought out Duane Reade’s Kleenex supply as their banker boyfriends failed to propose
again this summer. Thus, Harry Winston reported 40 percent 2nd quarter loss. Neiman Marcus reported loss. Even Claire’s reported loss. (No, you didn’t read wrong. Claire’s reported loss.) Being financially unable to buy something from Claire’s is so sad. But desperate times don’t necessarily call for desperate measures. There are plenty of cheap rhinestones and fake cubic zirconium’s in your future. Speaking of, the one thing that is up? Retail theft. As if retailers weren’t struggling enough, now they have 7.3 percent more shoplifters to look our for. And shoplifters will be prosecuted. So keep your little Aladdin hands to yourself.
Valentino reported loss but is banking on (excuse thine pun) Hugo Boss to resurrect their sales. CEO Stefano Sassi refuted rumors regarding debt repayment issues. And if anyone cared, the Coldwater Creek CEO, Dennis Pence, resigned Monday. Surely someone in Idaho shed a tear. Robert Amen (please, this is just too easy), International Fragrances and Flavors Chairman and CEO, also announced Monday that he would resign to join the Fellowship of the Sun. But on the upside, economists say August retail sales are expected to be up .04% and yadda yadda yadda…
Oh Wall Street, can’t you just let us have fun? This is why we endured the depression while all of our friends were moving out and snatching up suburban homes. This is why we live off of gum and $5 lattes. This is why we sleep with Rose Bar junkies. This is Fashion Week.
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