We think there's very few of them that can be long-term buys because of the fashion aspect of it, ... In Gap's case, what's happened here is that they've acknowledged that they have missed fashion but, in terms of their inventory management, they'll be delivering more frequently to the stores with less inventory commitment to each delivery. That should minimize their markdowns and improve their gross margins.
More Quotes from Richard Baum:
They are coming up against a number of uncomfortable facts,Richard Baum
The one thing that everybody kind of has tucked into the back of their minds is that if there is some sort of event that affects a mall between now and Christmas. It's hard to say whether another plane crash like this is going to have much of an impact yet.
Richard Baum
I know people refer to this as Black Friday, but it's probably a Blue Friday. We think it's going to be a season that'll probably be not as strong as last year, but nonetheless we think the consumer is in pretty good shape.
Richard Baum
Beijing is just testing its wings as a global player. This agreement is a major sign of China having achieved that stature.
Richard Baum
Ever since Tiananmen, of course, the U.S. has used human rights both as a barometer and as a weapon against China,
Richard Baum
The worst thing is to carry inventory over. Unless it's wine, it doesn't get better with age. It's basically better to sell it for 10 cents on a dollar than keep it.
Richard Baum
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