Retailers, consumers and prices
from Raw Japan:
Japanese retailers reported mostly dismal first-half earnings results, with the industry stuck in a slump as shoppers remain reluctant to open their wallets even as the economy emerges from recession.
With no sales pick-up in sight, stores seem to have no choice but to continue their race to undercut rivals, with prices dropping for everything from cars to clothes to milk.
On the surface it sounds like a shopper's paradise: Who wouldn't mind paying less than 1,000 yen ($11) for a pair of jeans?
Talbots, whose clientele consists mainly of women above 35 years old, reported a first-quarter loss of 23 cents a share, less than half the 49-cent loss analysts had expected.
Check out the majority owner of Talbots exerting more control.
The women’s apparel retailer, which has endured hardships in recent months including falling sales, job cuts, an executive departure and a credit problem, said on Thursday that Tsutomu Kajita would become chairman of its board.
Kajita is senior vice president of international operations for Japan’s Aeon Co, Talbots’ majority owner.