How Bad is Retail Hurting? Very Bad (Video)
Great clip from our favorite market video commentary spot tech ticker over at Yahoo Finance. Aaron task interviews retail consultant Howard Davidowitz of Davidowitz & Associates on the retail industry.
According to Howard is extremely ugly out there and there is an estimated 220,000 stores that will be closing this year in America. The bottom line is that there is simply too much retail space currently available and consumers aren’t spending.
Several of the brands that are in deep water include:
- Nordstrom (JWN)
- Neiman Marcus
- Tiffany (TIF)
- Jeweler Zale Corp. (ZLC)
- Saks (SKS)
- J.C. Penney (JCP)
- Sears (SHLD)
Video is below and is only about three minutes long. (Note: RSS and Email subscribers you may have to click through to view the post on StockTradingToGo to watch the video).
Source:
Get Ready for Mass Retail Closings
Tech Ticker, Feb 19th, 2009 11:58am EST
