Word: distressed
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Read "AIG's Distress: Are There Enough Fingers for This Dike...
Read "AIG's Distress: Are There Enough Fingers for This Dike...
Read "AIG's Distress: Are There Enough Fingers for This Dike...
...Target responding to the malaise? The credit distress is hard to control, but the company has promised to tighten lending standards and increase collections. On the product side, the company knows it must offer more essentials. "We continue to invest in our food offering in recognition of its importance in driving greater frequency, increasing guest loyalty and making Target a preferred shopping destination," CEO Gregg Steinhafel said during Target's fourth-quarter earnings call. For example, last year the company opened its first distribution center for perishable goods like fruits, vegetables and meats in Lake City, Fla. Target is slated...
AlixPartners, a turnaround firm, said at the beginning of the year that 10% to 26% of retailers were in financial distress and were in danger of filing for Chapter 11. It is worth considering how the researchers came up with that number, given that there are tens of thousands of retailers and hundreds of thousands of stores in America. Why wasn't the number 9% or 27%? The answer is that the forecast is virtually useless, something like counting the number of poisonous snakes in an Indiana Jones movie...