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September 25, 2008
Alberta Ferretti Opens On Melrose
Italian designer Alberta Ferretti opened her first U.S. flagship on L.A.’s Melrose Avenue over the weekend. The new 4,500-square-foot shop offers the designer’s collection and Philosophy lines, as well as footwear, accessories and girls’ apparel.
The shop has been designed with an open floor plan, meant to convey lightness. Clothes hang on clear hangers or are folded in transparent square displays.
Ferretti plans to open more stores in California, noting that she has a following there.
Posted by Blacks at 08:56 AM | Comments (0)
September 22, 2008
Euro Designers Fret Over Drop In U.S. Market
The collapse of three Wall Street investment banks and falling U.S. dollar have sent shockwaves not only to retailers, but also to some fashion houses that worry that there will be less of a market for their products. This is especially true for European designers whose goods are prices in Euros. Already, the weak dollar has caused prices on European goods to soar, but they could climb even higher in the wake of market troubles here in the U.S.
As European designers get ready to show their wares at the Milan shows, the mood is reportedly anxious.
It remains to be seen whether the market will stabilize in the face of the U.S. government’s proposed $700 billion bank bailout or if the mood will worsen as U.S. consumers face higher taxes to pay for it.
Posted by Blacks at 12:49 PM | Comments (0)
September 18, 2008
Market Shakeup Could Affect Consumer Spending
Stocks rebounded Thursday after two days of heavy losses, restoring some confidence in the market. The Dow Jones Industrial average ended up 3.9% but we’re remaining cautious as to how the market might swing next.
Recent financial volatility could affect consumer spending this holiday season, making it an even more challenging market for retailers. We are advising retailers to keep a close eye on their balance of on-orders. If conditions worsen, you may need to cancel any nonessential on-order product.
We’ll keep you updated as the situation progresses.
Posted by Blacks at 02:01 PM | Comments (0)
September 17, 2008
E-tailers See Strong Gains In Year Ahead
Although it continues to be a challenging market for brick-and-mortar retailers, online retailers expect significant growth over the next year, according to a new survey released by the National Retail Federation’s Shop.org.
E-tailers expect to see an annual average growth rate of 25% as conversion rates continue to climb, according to the survey. Convenience and consumers’ increased comfort with shopping online have been cited as reasons behind the growth.
E-tailers did note that their margins are lower than traditional stores since their operating expenses, which include free shipping and fulfillment, are high.
Posted by Blacks at 11:08 AM | Comments (0)
September 15, 2008
Luxury Stores Move Into New Bellevue Complex
Luxury stores are being drawn to Belluvue, Washington’s newest retail complex, The Shops at the Bravern. Bottega Veneta, Neiman Marcus, Hermès and Jimmy Choo have already signed up for spaces in the Braven, which is set to open next year.
The Bravern features 305,000 square feet of retail and restaurant space, of which Neiman Marcus will occupy 125,000 square feet.
Posted by Blacks at 09:11 AM | Comments (0)
September 12, 2008
Weak Demand Takes Its Toll On August Sales
Specialty retailer’s sales dipped in August, as consumers continued to concentrate on buying staples such as groceries and gas, the Commerce Department said Friday.
Sales were down 0.3% in August compared to July, but were up 1.2% against a year ago.
Clothing and accessories were some of the hardest hit categories, despite expectations for a strong back-to-school shopping season.
Economists predicted that consumer spending would continue to drop this quarter, and then rebound slightly for the holiday season.
Posted by Blacks at 10:32 AM | Comments (0)
September 11, 2008
Lululemon's Profits Soar Over 100%
Lululemon’s profits surged nearly 118% in its last quarter on sales that spiked 48% to $85.5 million.
The Vancouver-based athletic firm has managed to shake off the economic slowdown by offering must-have products to its sporty clientele.
Profits for the first half of the year were up 127% to $19.6 million on sales that were up 59% to $162 million.
Posted by Blacks at 10:42 AM | Comments (0)
September 10, 2008
Richemont's Sales Slow In The U.S.
French luxury group Compagnie Financiere Richemont SA saw its sales grow 11% from April to August, indicating that some parts of the luxe market are still going strong.
Richemont, which owns the Cartier, Van Cleef & Arpels and Dunhill brands, among others, said sales were brisk in Europe and Asia-Pacific, but the U.S. is showing signs of a slowdown.
The group indicated that the lower and mid-tier luxury goods are being affected by the slowdown the most. Deep pocketed customers are still driving demand for big-ticket items, however.
Posted by Blacks at 11:05 AM | Comments (0)
September 09, 2008
Neiman Marcus Opens New Cusp Store In Boston
Neiman Marcus has opened its fifth Cusp contemporary store just outside of Boston, in the Chestnut Hill mall. The new 5,950-square foot store is the first to carry the “Cusp by Neiman Marcus” name, giving it more brand identity.
Cusp targets younger women with a penchant for designer contemporary labels and trendy jewelry. The Boston location has more accessories and jewelry than the other doors, but carries the same denim and casual wear.
Even though Neiman is still adjusting the concept, it says the stores are doing well enough to merit new locations. Another Cusp by Neiman Marcus store is due to open in Chicago in November.
Posted by Blacks at 10:37 AM | Comments (0)
September 05, 2008
Report: Barneys Selects Meatpacking Location
Barneys New York has reportedly selected a location in the Meatpacking District to serve as its new downtown flagship. It plans to lease two adjacent buildings on Washington St., according to news reports.
However, if the deal goes through, it may take a while to get the necessary permits.
One thing is for sure – Barneys would probably find success in New York’s thriving Meatpacking District, which has seen a retail renaissance in recent years.
Posted by Blacks at 09:36 AM | Comments (0)
September 04, 2008
Phoebe Philo Named Creative Director Of Celine
Former Chloé designer Phoebe Philo has been named creative director of the LVMH property, Celine. She will start with the brand in October and present her first line for fall/winter 2009.
Philo, who has been out of the fashion scene since 2006, has said that she wants to create exciting designs that will give women a reason to shop again.
In addition to clothing, the designer will developing styles for handbags and accessories.
Posted by Blacks at 10:00 AM | Comments (0)
