WWD just reported that the month of January saw 600,000 jobs cut from the American economy, 8,600 of which were from department stores.
This news comes right on the heels of yesterday’s department store news, that the S&P’s Ratings Services has placed six department stores - Dillard’s, Macy’s, Neiman Marcus, Nordstrom, J.C. Penney and Sears - on credit watch, which means any or all of those companies could have their credit ratings lowered, and we all know what that means.
In fact, Bon-Ton, Kohl’s and Saks have all recently had their credit ratings lowered from “stable” to “negative”.
Our advice? If you’ve been holding on to some gift cards from any of those stores, use them.
posted by guest
Feb 06, 2009 8:19PM
and for all of you hungry designers watch who you sell...just because the order looks yummy the taste left in your mouths when your merchandise is returned ,cancelled or worse yet sold and not paid for, the warning signs were writ LARGE. Fashionista doesn't lie. I like you guys for that. You are a wealth of information that carries weight, sometimes light but ultimately SOLID!
fluff Chance
http://emperorsoldclothes.blogspot.com/