Summit Notebook

Using the recession to teach kids key life lessons

June 10, 2009

Nina Kampler said yes to a pair of sneakers, but no to a new prom dress.

Kampler, executive vice president of strategic retail and corporate solutions at Hilco, said she has cut back on some spending during the recession, but hasn’t skimped on items that her four children really need or experiences that educate or enrich their lives.

from Shop Talk:

Saks CEO ‘staycation’ing in slump

June 9, 2009

stephen-sadove1Many U.S. consumers are not really in the mood to go on vacation. That's understandable, with all that's happening in the economy right now.
 
Guess who else is staying home this summer? 
"As a family -- my wife, my kids and I -- are making sure we're doing more in the way of 'staycations' as opposed to traveling as much," Stephen Sadove, chief executive of upscale retailer Saks, said at the Reuters Global Luxury Summit in New York on Tuesday.
 
The retailer's top executive said he was paring back expenses and planning to forgo his annual ritual of getting himself a new watch in the light of the economy. 
 
Sadove, who has personally paid to take his wife along in the past on a few of his European buying trips, said, "I didn't think that sent the right signal … We decided that wasn't the right thing to be doing."
 
One can only hope the struggling retailer's sales figures start sending the right signals soon.

Adler’s “happy chic” in gloomy times

June 8, 2009

Interior designer Jonathan Adler points to his quirky and irreverent housewares as part of his success during the current economic environment. Click here to listen to what he has to say about his design aesthetic and how gloomy times might be driving people to bring home a little “happy chic.”

Adler: "Happy Chic" in gloomy times from Reuters TV on Vimeo.

Where are you spending?

June 8, 2009

This week we’re getting inside views from some of the biggest names in retail…from high-end fashion houses like Hermes to department store chain J.C. Penney. Optimism among those in the industry about a turnaround toward the end of 2009 springs eternal…but what are you seeing? Where are you spending? Or, are you trading down? Ditching Saks and heading to Target? Barclays retail analyst Bob Drbul says the key for consumers in the current economic environment, no matter where they shop, is “value.” Click here to hear his thoughts:

Jonathan Adler’s big banana hit

June 8, 2009

Want to know what quirky housewares are selling during the recession?  Designer Jonathan Adler talks about one item that has taken off here.

Gay rights a key concern for Jonathan Adler

June 8, 2009

As a designer, Jonathan Adler is not too worried about the recession crimping sales of his home goods.  As a newlywed, one issue that does concern him is the rights of gay couples.
 
Adler married Simon Doonan, the creative director at Barneys, in San Francisco last September.

AT&T: Netbooks key to expansion beyond cellphones?

May 19, 2009

AT&T says it sees a lot of promise for the netbook and the connection fees that come with the devices as a growing source of revenue as consumers look to take broadband connectivity on the road. But will consumers be as enthusiatic to sign another contract for the service? Click below to hear AT&T’s President of Mobile & Consumer Markets talk about what he sees as the future of the netbook.

from Shop Talk:

Food shortage + financial crisis = bleak outlook

March 19, 2009

The global economic meltdown has the World Bank on high alert.
 
As the financial crisis deepens, the World Bank is issuing even bleaker warnings about rising poverty and hunger in the developing world.  Initially, it estimated that 46 million people in developing countries could be pushed into poverty.  Now, that level is up another 7 million.

from Shop Talk:

Food safety worries? Join the club

March 19, 2009

peanutcorpAre you worried about the rash of high-profile and often deadly tainted-food scandals involving everything from peanut butter and chili peppers to spinach and baby formula?

Food exec’s biggest cravings?

March 18, 2009

At the Reuters Food & Agriculture Summit, executives shared with the outlooks for their companies, their expansion plans and their views on the economy.