CEOs on The Speedo Controversy, Consumers
Despite inflationary pressures on the consumer, retail CEOs told CNBC why they remain optimistic.
Speedo: Technological Doping?
“It’s a unique product. The LZR Racer. It’s water-repellant; it’s lightweight. It has strategically-placed pieces of fabric that support the body… And in the core, it functions almost like a girdle; it’s uplifting. It was created in conjunction with NASA, the space agency. It was tested in wind tunnels… The fabric it’s bonded, no stitching or seems… Every athlete has the opportunity to wear this suit. We had 3,000 suits shipped to Beijing.”
- Joseph Gromek, Warnaco president & CEO
Profiting from Playtime
“The consumer is still coming to shop if we offer the right products and value. For example, the Star Wars movie is going to launch this weekend. We launch Star Wars toys in our Times Square store two weeks ago and there was a line around the block to buy these products… People are not spending perhaps on large capital items - a large vacation, you know, a large home remodel - so they do have some money, but toys are relatively affordable.”
- Gerald Storch, Toys R US chairman & CEO