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It's a make-it or break it time for retailers. The holiday selling season is always a critical time for retailers, but this year this may be even more true. With several retailers already falling victim to a drop in consumer spending, and filing for bankruptcy, retailers will be navigating through some tricky waters. Consumers are strapped for cash due to high energy and food prices, and unemployment is rising. The recent credit crunch has made it more challenging for retailers and consumers to borrow.
This blog will look at the winners and losers in the retail space. Who has the right strategy to capture consumer dollars? It also will look for trends in consumer spending and how that will impact the economy.
This blog will look at the winners and losers in the retail space. Who has the right strategy to capture consumer dollars? It also will look for trends in consumer spending and how that will impact the economy.
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May.24
11:31 PM ET
Thursday, 24 May 2007
Breaking News: Coach Headquarters Fire
Posted By:Margaret Brennan
Topics:Retail Sales
Sectors:Personal and Household Goods | Retail
Companies:Coach Inc
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] at 516 W. 34th St. However, the fire was only a rooftop fire and did not start inside the Coach offices.According to Coach spokesperson Andrea Resnick, the fire was contained to the rooftop, where it was brought under control, and the damage was minimal. All of the company systems are up and fully operational. There were no injuries to Coach employees.
The building does not contain Coach goods; it is only their corporate headquarters. It will be closed tomorrow, but the building was only supposed to be open half a day due to the holiday. The building will be fully operational by Tuesday morning.
I spoke with Coach sources who are also downplaying the damage, as it doesn't affect merchandise. Coach's main edge right now does seem to be their talent (for example, the excellent merchant Reed Krakoff as president), so the corporate headquarters is of course important, but fortunately, none of the executives or employees were affected.
FYI -- the original address of the fire was erroneously reported by other news organizations, which is why we now are confirming details of the blaze that happened midday.
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