Credit jitters collided with already anemic consumer demand and even a trio of hurricanes to send September same-store sales results to their low point for the year, reducing already sober holiday expectations even further.
Although Wal-Mart Stores Inc.’s U.S. stores eked out a 2.4 percent gain in comparable-store sales, just missing analysts’ predictions of a 2.5 percent pickup, retailers, particularly department stores, got clobbered by the effects of the global financial crisis and Hurricanes Gustav, Hanna and Ike, causing many to slash third-quarter guidance and a few to even question if their already miserly management of inventories has been sharp enough to minimize their exposure heading into the holiday season.
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)