The retailer is soft-launching some of its home shops—in-store boutiques for furnishings from designers such as Jonathan Adler and Michael Graves—hoping that they will help spur plummeting sales. The Street will be watching.
For so long, it's been all about value in the retail sector, and looking at the latest retail sales results, that hasn't changed yet. But an often overlooked type of retail business is emerging as a new diamond in the rough: gemstones.
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Companies are trying to find the right pitch for these tough times, and those who think it’s just about cutting prices, extending warranties, or throwing in something for free are sadly mistaken.
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The visible signs of the carnage in the retail sector will soon be too hard for many to ignore. The International Council of Shopping Centers projects 148,000 retail stores will be shuttered in 2008, and another 73,000 stores will close in the first half of this year. If those estimates prove correct, the number of closures last year will be the highest since at least 2001, and this year, closures will be on track for a similarly brisk pace.
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With growing numbers of store closures, shopping mall operators are going to have to think outside the "Big Box" to fill vacant space. Here's what some retailers and shopping center operators are doing when they lose an anchor.
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Consumers are hunkering down and spending less. This behavior is having a far-reaching impact on the economy. At CNBC.com, we are launching the "Consumer Nation" blog to track these developments.
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From the products to the pitches to the people who buy them, we are a Consumer Nation. This blog focuses on all things consumer, taking the pulse of the attitudes that shape purchasing decisions, and providing insights that will help keep marketers, entrepreneurs and investors up-to-date on where trends are heading.
Retail lost 24,000 jobs in March. What can be done to encourage job growth and investment in the sector? Stacey Widlitz, S.W. Retail Advisors president, discusses. Also, CNBC's Courtney Reagan reports on whether JC Penney's turnaround strategy will work for the retailer.