Neiman Marcus layoffs, Retail collapse, Magazine ads evaporate, Luxury’s turnaround, Giambattista Valli

Photo courtesy of Alfred Eisenstaedt

Neiman Sets 375 Layoffs Amid Slump (WSJ) Neiman Marcus is laying off 375 people or 3% of its workforce. Retail Sales Collapse, But Keep the News in Perspective (Seeking Alpha) From August to December, retail sales collapsed 24%. “But it’s important to remember that there is a lot of psychology in these numbers,” reports Seeking Alpha. Magazine Ads Evaporated in 2008, Faster as Months Went On (WSJ) “Capping a

…Continue Reading

Luxury Outlook | Innovation engine

  As the big three U.S. automakers await to hear their fate on a requested bailout from the U.S. government and Citigroup teeters on the verge of bankruptcy, it now seems that the fall of Lehman Brothers, Bear Stearns and other corporate casualities was just the beginning of what is likely to be a global economic meltdown of epic proportions. With this as the backdrop, a reader recently wrote in to ask about the prospects for aspiring job seekers in the fashion industry more generally. Others have been wondering how some of the emerging businesses that have come to the fore in recent years are faring. The short answer to both questions is that things are extremely tough out there,…

…Continue Reading