As Wall Street's financial tremors keep rumbling, several Madison Avenue retailers are bracing themselves for what could be a long stretch of even more uncertain times while already struggling to woo shoppers this fall.
Last week, sales associates at 25 stores surveyed were suddenly having to face the fallout, which could be seen in the cautiousness of price-sensitive and indecisive clients, a rash of returns and moratoriums on shopping. Compounding the problem is a slight slowdown in European visitors, who are now thinking twice about visiting the U.S. due to the weakening euro against the dollar. When the currency was stronger this summer, European shoppers made the most of the exchange rate in what one saleswoman described as “abusing the dollar,” and substantially boosted sales.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)