By and  on January 14, 2009

Fourth-quarter profit warnings from Tiffany & Co., VF Corp. and Under Armour Inc. demonstrated on Wednesday the breadth of consumers’ spending retreat, which might just force fashion to reinvent itself.

Even with adjustments in profit guidance coming fast and furious, the full scope of the damage sustained in the fourth quarter won’t be known until after earnings reports begin to arrive next month, although Chapter 11 filings by Gottschalks Inc. and Goody’s Family Clothing Inc., the latter a prelude to liquidation, suggested more pain is on the way.

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