One big difference was that last year retailers kept promotions under tight control. Things were more panicky this year.
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There's no way to make up for the lost business. It's gone.Howard Davidowitz
For me, the big question is what is Wal-Mart going to do to improve sales,
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has been trying very hard to do that for a long time. So far they have been left with a giant loss of market share.
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I had a conversation with Terry this morning and I told him that I don't support a decision to make a huge investment in another department store when many more consumers are shopping at off-mall retailers such as Wal-Mart, Target, Costco and Kohl's,
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Penney had no choice but to improve on fashion.
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The bigger issue for the entire retail space is that we have a weak economy, unemployment is rampant, corporate spending is down and corporate earnings are not improving.
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