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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)