Gucci Gets Put On Hold

As the holiday season approaches, shopping is foremost on our list of things to do. But this year some retail giants aren't so sure that everyone wil
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As the holiday season approaches, shopping is foremost on our list of things to do. But this year some retail giants aren't so sure that everyone wil
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As the holiday season approaches, shopping is foremost on our list of things to do. But this year some retail giants aren't so sure that everyone will be whipping out their Amex cards with abandon. The New York Post reports that select U.S. department stores are putting their luxury orders on hold, specifically those with Gucci, Armani and Versace. The Post quotes retail consultant Steve Buxbaum, "Stores this year are buying more conservatively and watching inventory closer than ever." Orders haven't been cancelled yet; we think stores are waiting until the last minute to feel out their customer's financial positions. An unsteady housing and mortgage market, fluctuating interest rates and the terrible value of the American dollar against the Euro don't make for carefree holiday shopping. A crash in the luxury market will hurt even major houses but could be devastating to up and coming designers trying to get their foot in the door. If department stores are cutting back on their orders with brands that have proven successful for years, buyers' willingness to experiment with unknown lines might not be so enthusiastic. If even major department stores are holding off on their orders until mere weeks before Christmas, we won't feel so bad about procrastinating with our own shopping! --BRITT ABOUTALEB