Retail finance executives took unprecedented steps to limit the damage a battered economy could do to their holiday businesses, and they’re ready to go further as they deal with the likelihood of an even more challenging 2009.
In a survey of chief financial officers from 35 national retail chains conducted by the Karabus Management consulting firm of Toronto, 90 percent of cfo’s were able to reduce their inventories on a comparable square-footage basis by midsingle-digit percentages to 15 percent. There was unanimous agreement that receipts would be cut materially for spring based on the “universal recognition of near-term lower consumer demand,” the study found.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)