“The department shops, which have actually been stopping working gradually for a very long time, actually don’t get over this,” said Mark A. Cohen, the director of retail research studies at Columbia University’s Business School. At a time when merchants ought to be putting in orders for the necessary holiday shopping season, stores are furloughing tens of thousands of corporate and store employees, hoarding cash and desperately preparing how to survive this crisis.”I’ve had a showroom for over 30 years, and we have actually always utilized the word ‘partnership,’ when talking about our relationship with the department shops,” stated Betsee Isenberg, of the display room 10Eleven, which represents many brand names such as Vince and ATM.
“The department shops, which have been failing gradually for an extremely long time, truly do not get over this,” said Mark A. Cohen, the director of retail studies at Columbia University’s Business School. At a time when retailers must be putting in orders for the necessary vacation shopping season, shops are furloughing 10s of thousands of corporate and shop staff members, hoarding money and frantically preparing how to endure this crisis.”I’ve had a showroom for over 30 years, and we have actually always utilized the word ‘partnership,’ when talking about our relationship with the department stores,” stated Betsee Isenberg, of the display room 10Eleven, which represents many brands such as Vince and ATM. Shares of J.C. Penney, which has actually temporarily shut its more than 800 shops, closed at 23 cents on the dollar last Wednesday after the seller stated that it did not make a $12 million interest payment due that day. According to a report this month from S&P Global Market Intelligence, department stores were more most likely than any other consumer industry to default on their debt in the next year.
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