By  on January 15, 2009

Large publicly traded retailers weren’t the only ones clobbered by the tough fall and holiday season. Independent specialty stores also felt the impact of the recession and consumers’ reluctance to spend. The difference is that smaller merchants don’t have the large-store luxury of receiving markdown money from vendors. And so now, when the bills come due, many face another hurdle — how to pay for goods that didn’t sell while pondering their shopping lists for next fall.

That’s the backdrop for many retailers heading to New York for market. Although most stores surveyed by WWDWWDWWD are still planning to make the trip to shop The Collective, Blue, Project and the men’s wear showrooms, they’re significantly cutting back on their open-to-buys for the season, some by as much as 50 percent.

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