TOMMY MOVES: Tommy Hilfiger Corp. was downgraded this week by Credit Suisse First Boston following the company’s cautious guidance for fiscal 2003, due in part to reduced sales expectations in the still-difficult men’s wear sector. Dennis Rosenberg downgraded the stock to “buy” from “strong buy.” However, Jeffrey Edelman, analyst at UBS Warburg, maintained his “hold” rating, noting that both men’s wear and the retail divisions remain “mired in transition” and that these units and the uncertain economy pose “major risks” to the firm’s future results.
DOT-COM UNEMPLOYMENT DIVES: Internet-related job cuts in January fell to their lowest level since June 2000, totaling 1,802 positions lost — a figure that also marks an 86 percent decrease from the 12,828 people who lost Internet posts in January 2001, according to Chicago-based outplacement firm Challenger, Gray & Christmas. Since December 1999, when CG&C began tracking dot-com unemployment, 144,242 Internet job cuts have been announced, including 1,652 in June 2000. This January was the third straight month in which dot-com layoffs have declined.