Daily Digest

1 March, 2013

Who Killed JC Penney?

JC Penney, Colorado | Source: Bloomberg

“‘The Worst Quarter In Retail History.’ That’s how Henry Blodget described JC Penney’s last three months of 2012, as same-store sales took an epic 32 percent nosedive. To be clear about exactly what a disaster that is, it means that for every $100 dollars JC Penney sold in a store around Christmas 2011, it sold only $68 in that store in Christmas 2012. That doesn’t look like the beginning of the end for JC Penney. That just looks like the end.”

PPR Races To Keep Sports In The Running

Puma 'I'm going to fall' campaign | Source: PR Week

“Within the next few weeks, the world’s third-largest sports shoe company by sales – after Nike and Adidas – will welcome a new chief executive after a turbulent year in which the underperforming group’s previous top management has left. That has led to a more hands-on role for Mr Palus, who will become the new chief’s direct boss.”

Are Tech Toys The New Luxury Goods?

Tiffany & Co campaign | Source: Tiffany & Co

“Today, no one wants to pay full price for luxury goods. People have the unfortunate belief that fakes somehow are equal to originals, and if you can’t get a deal on eBay, Amazon, or in an outlet store, purchasing a luxury good probably isn’t worth it. Luxury brands struggle to retain high-end images despite the reality that the American consumer is motivated much more by discounts than they are by brand names or image.”

A New Balenciaga but Not Set in Marble

Alexander Wang, Balenciaga Autumn/Winter 2013 | Source: Nowfashion

“With its round, sculpted shoulders, narrow hips, a coal black elegance and white marble patterns, Alexander Wang’s first outing at Balenciaga on Thursday was a fine effort. In fact, it looked effortless, as though the designer, at only 29 years old, had reached the essence of what the famous couturier stood for: sculpted elegance.”