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Article: Boom and gloom: the economy swung all over the place, from the stumbles of Wal-Mart and the subprime mortgage crisis to the continued strength of the luxury market and a flood of private equity money in search of fashion properties in which to invest.
- Article from:
- WWD
- Article date:
- December 11, 2007
- Author:
CopyrightCOPYRIGHT 2007 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Arthur Zaczkiewicz
2) From the business and financial perspectives of retail and fashion, this was a year of transition.
Among the bigger macroeconomic developments was a tectonic shift in the global M&A market. Dramatic swings in consumer spending and confidence also marked the year, as did rising energy and raw material costs as well as hints that the aspirational luxury consumer could be pulling back after five years of robust spending.
And, due to the collapse of the adjustable-rate mortgage market, 2007 included rabid volatility on Wall Street, with many retail stocks setting 52-week lows in the second half, as well as the ongoing ...