Retailers, consumers and prices
Check Out Line: Job cuts on Aisle 4!
Not belt tightening by retail customers (if there are any left), but the latest round of cost cuts by retailers themselves.
Williams-Sonoma is cutting 18 percent of its workforce and also paired back capital spending.
Jones Apparel is cutting its capital spending plans to $45 million in 2009 from the $70 million it spent in 2008.
Brown Shoe: closing stores, cutting jobs.
Children’s Place: relocating its e-commerce business and cutting about 350 jobs.
Retail just suffered through the worst holiday season in at least four decades and there are no signs of a rebound anytime soon, so job cuts and cost reductions are expected.
But as retailers and other industries cut jobs, the question remains: who will be able to shop to help spur a retail recovery?
Also in the basket:
How green is my orange? (N.Y. Times)