Let’s get to the good news first. Because it’s some of the best news we’ve had in a while. Nothing will change overnight, but consumers are coming out of the woodwork and buying stuff they just weren’t buying before, probably because they didn’t all lose their jobs like they thought they would. As a result, retail sales are slightly up.
Hot Topic and Jimmy Choo are some of the latest success stores – the latter’s expanding in Hong Kong.
Also, you know how everything is going bankrupt? That means there are all kinds of vacant retail spots popping up. Well, doesn’t seem they’ll last for too long. The retailers that are doing well are taking advantage of these new real estate opportunities.
Now the bad stuff.
Nordstrom cuts pay for its top execs.
Jane & Company cosmetics files for chapter 11.
Neiman Marcus slashes 131 jobs.
New York boutique Sweet Tater is set to close its doors April 19th.
LL Bean lays off 150 of its 200 call center employees in Bangor. This is just the first wave of layoffs.
Founded in 2003, TBF is a fashion blog dedicated to helping you live your best for less. We give you the 411 on the latest fashion trends & tips and sample sales. 
{ 3 comments… read them below or add one }
I really think that Banana Republic (and all of the Gap family of brands) are in trouble. I went in on Saturday and there were signs on EACH of the dressing rooms stating “We are open on Easter!” (kind of overkill, IMO). Then there were HUGE signs throughout the store announcing that “All regular-priced shoes 40% off”. And then, when I went to go pay at the register with two gift cards, the sales associate informed me that BR has a new policy: now you can also use BR gift cards at all Gap and Old Navy stores, too. Smells like desperation to me…
In a way I think the recession is doing a good thing by teaching people how to shop smarter. It’s totally possible to buy the same things you crave, but the trick is to use little “helpers” like <a href=“http://www.ebates.com”>coupon codes</a>, and <a href=“http://www.ebates.com”>online rebates</a>. Between those two things I’ve saved hundreds (nearing thousands).
More on Banana Republic (now they’re dramatically reducing folks credit limit w/o prior notification): http://consumerist.com/5210204/banana-republic-lowers-credit-card-limit-from-1000-to-100