Despite some signs — or perhaps hopes — that consumer spending has bottomed out, Moody’s Investors Service said credit conditions will continue to worsen for retailers in the next 12 to 18 months.
“With the economy in recession and consumers in retreat, our negative outlook on the U.S. retail industry shows no signs of stabilizing anytime soon,” said Moody’s in an analysis released Tuesday. The debt rating agency said about 40 percent of the retailers it tracks have a negative credit outlook or are on review for possible downgrade.
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)