For Federal Reserve chairman Ben Bernanke, it’s “green shoots.” For retailers, the new buzzword is “stabilization.”
While business remains challenging for most stores and no one is expecting a massive turnaround anytime soon, there are signs the worst may be coming to an end. The stock market is seeing relatively consistent gains, housing sales in some of the hardest-hit markets are simmering again and retailers from Wal-Mart Stores Inc. to J.C. Penney Co. Inc. to Casual Male Retail Group Inc. and Claire’s Stores Inc. point to a slight uptick in sales this spring that could be the first signal of better times ahead. Further signs are expected today when retailers release comparable-store sales.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"