As indications mounted yesterday that the banking crisis was metastasizing into an economic crisis, small-capitalization stocks suffered losses yesterday. HSN was one of many consumer names, both staples and discretionaries, particularly hard hit. Its share price fell $1.79, or 21%, to $6.84. The Wall Street Journal Oct. 15, 2008 Paid subscription may be required.
Consumer, Small-Cap Stocks — Like HSN — Take a Hit
DRTV Retailer, Research, Trends, Forecasts
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Oct 152008
Neutrogena Taps Dr. Will Kirby to Introduce New Retinol Product on QVC
Beauty products, DRTV Retailer
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Oct 152008
Neutrogena, the Johnson & Johnson subsidiary, yesterday announced that Dr. Will Kirby will present a new “anti-aging,” retinol product on QVC. The press release from the skin, hair and cosmetics product maker (available on PRNewswire.com) appears in its entirety below. Continue reading »
Oct 142008
Plucky Rachael Ray will make her QVC debut on Sunday, October 19 at 7 PM (ET) during the newtork’s “Cooking on Q” 24-hour event. In addition to her new cookbook, Rachael Ray’s Big Orange Book, the TV chef will pitch her own line of kitchenware and utensils. Items will include a skillet with press, a fondue pot, a special-grip knife, and a set of utensils for young cooks. Prices will range from approximately $15.00 to $70.00. QVC Press Release on CNNMoney.com Oct. 14, 2008
Oct 132008
Wal-Mart and the warehouse club stores were exceptions, but a majority of retailers reporting September sales reported declines compared with last year. In addition, “Thomson Reuters reported that 71% of the stores it tracks on its same-store sales index had failed to meet analysts’ expectations, and that retail growth dropped to 0.8% — the worst September performance since the company began collecting data in 2000.” Here is econo-speak from an executive in the particularly-hard-hit apparel segment, and it doesn’t auger well for the Holiday season. “Our disappointing September sales results reflect the deteriorating macro economic environment.” The Wall Street Journal Oct. 13, 2008 Paid subscription may be required.
Reba McEntire to Appear at “Shoes on Sale” Benefit in NYC Wednesday Night
Celebs & Stars, Footwear
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Oct 132008
Reba McEntire, the face of this year’s Shoes on Sale ad campaign, will appear Wednesday evening at the Shoes on Sale benefit gala, which will be held at the Waldorf-Astoria hotel in New York City. Opera singer Ruth Ann Swenson is scheduled to perform. The Shoes on Sale fundraising event, sponsored by the Fashion Footwear Association of New York, QVC and numerous footwear makers, is celebrating its 15th anniversary this year and expects to surpass a cumulative total of $30 million donated to breast cancer research since its start. Footwear News Oct. 13, 2008
Despite the worldwide economic crisis and political unrest in Thailand, the Bangkok Gems & Jewelry Fair seemingly turned in a strong performance last weeek. Attendance held steady. Trade receipts amounted to $784 million and 1,115 companies exhibited. JCK Online Oct. 10, 2008
Former ValueVision Exec Lynne Hempe Joins Goody’s Family Clothing Inc.
Bricks-and-Mortar, Talent
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Oct 102008
Ms. Hempe, who at one time was ValueVision’s vice president, home, ready-to-wear and cosmetics, will become chief merchandise officer for Knoxville, TN-based apparel retailer Goody’s. Her responsibilities will include e-commerce, as well as merchandising and product development. Internet Retailer Oct. 13, 2008
Luxury Retailers See Leaner Times Ahead
Apparel, Jewelry (fine), Research, Trends, Forecasts, Watches
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Oct 102008
For many of the world’s best-known luxury brands — jewelry makers, watch makers and high-end fashion houses — these have been very good times. Any softness in sales in the U.S., Europe and Japan has been more than made up for by emerging markets like China and Russia. But they think that’s going to change and they’re starting to retrench. The Wall Street Journal Oct. 8, 2008 Paid subscription may be required.
Luxury Watches and Jewelry Drive 4.5% YTD Revenue Growth for LVMH
Jewelry (fine), Suppliers, Watches
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Oct 092008
Watches and jewelry sales grew 11 percent to 656 million euros ($894.4 million) for the first nine months of 2008, year-over-year, the strongest category for luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton. TAG Heuer and Hublot turned in particularly strong performances. JCK Online Oct. 9, 2008
