NEW YORK — How will retailers fare at Christmas this year — will they get a chunk of coal or at least a tiny present under the tree?
An economy in the doldrums, the threat of an Iraqi war and more terrorist attacks and weak comp-store sales already have resulted in markdowns at retail of up to 50 percent. Merrill Lynch and a host of other financial institutions predict this could be the worst Christmas in a decade.
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?"