Retailers, consumers and prices
Tourists helped Saks Fifth Avenue’s flagship store last quarter perform in line with the chain’s other stores, and Macy’s CEO Terry Lundgren told Reuters on Friday that lately he was hearing more languages besides English than ever on the store floor.
Judging by some of the shoppers Reuters interviewed this week, visitors from abroad plan to spend plenty in New York:
- “Stuff is always cheaper here anyway and even more so with the dollar,” said Katy Moore, a visitor from Ireland, who was shopping at Foot Locker on Thanksgiving day.
Backstage at the Miss Sixty show at NY’s fashion week, Italian label Miss Sixty’s head designer and co-founder Wichy Hassan speaks about the effects of the recession on the show and the possible future price of garments at the label’s stores.
From New York and Milan — where the label hails from — he says the industry is feeling the pinch.