Coming off the nightmare of fall’s early and aggressive markdowns, the first spring price cuts are already budding. Sample sales are on the rise, too, with stores pushing back goods to vendors. And some retailers are utilizing sales tactics usually reserved for holidays and pre-Christmas. Myron E. “Mike” Ullman 3rd, J.C. Penney chairman and chief executive officer, expressed optimism in signs of increased store traffic:“We are not seeing a wild or crazy shift, but there’s been a slight uptick.” In Europe, Arcandor AG, is spinning off its premium department store operations and a large portion of its catalogue business. Meanwhile, an epidemic of specialty store closings and consolidations is sweeping through the Los Angeles region as retailers succumb to the recession.
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)