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...Enter retail. It's certainly not rosy in retail-land: The Sharper Image, Lillian Vernon Crop and Bombay Company have all declared bankruptcy. Ann Taylor announced the phaseout of 117 of its 921 stores over the next three years and Liz Claiborne is shutting down 54 Sigrid Olson shops this year. Talbots streamlined 22 more stores in addition to the 78 it already had announced while also ending Talbots Mens and Talbots Kids. The International Council of Shopping Centers forecasts that store closings could reach 5,770 this year - the highest since...
...first time in eight years. Why? Target is known for its home furnishing and apparel departments, two sectors that are not faring well in this economic downturn. Wal-mart, on the other hand, does better with sales of food and nondiscretionary items, which continue to perform solidly. The mega-store is going back to its roots, marketing itself as the place to get the best deals on everyday items. Its February same-store sales were up 2.6% compared to last year. Who wouldn't want to pay less for light bulbs and pens...
...Urban Outfitters and Anthropologie: Two bright spots in mid-priced retail are these sister stores. Both are thriving by investing in competent employees and offering a good mix of merchandise people won't find anywhere else. "They have a unique display selection and a director in every store," says Howard Davidowitz, Chairman of Davidowitz & Associates, a national retail consulting and investment-banking firm.. "No other store looks like them." The catchy windows draw people inside. The funky clothes sell themselves. Chen of Needham & Co. flagged Urban Outfitters as one of the best growth stories in the specialty retail space...
...than high-end labels. "It's perceived exclusivity," says Chen. "It's pretty accessible and for their customer it's a bargain." J. Crew might still sell some basics, but they do it better than anyone else. Their fiscal year ended February 2 with revenues increasing 16% and comparable store sales...
After almost an entire period of scoreless back-and-forth hockey, it appeared that the No. 1 Harvard women’s hockey team was in store for another postseason nail-biter in its matchup with Dartmouth Saturday afternoon at Bright Hockey Center.But with the final seconds of the first period of the quarterfinal round of the NCAA Tournament ticking down, Crimson junior Jenny Brine scored a goal that gave Harvard a 1-0 lead and opened the floodgates for the Crimson offense. Harvard defeated the Big Green, 5-1, in front of 1,497 fans to advance...