In Retail, Pessimism Doesn't Pay
You know what's been a real sucker trade? Being gloomy about retail. I keep thinking back to last night's interview with Manny Chirico, the CEO of PVH (PVH), which made that remarkable move on Warnaco (WRC). At the same time that he announced that deal, he pointed out that October was a very strong month for his company, a statement that's incredible, given the breadth of his business, which encompasses shirts, slacks, ties and shoes at a host of different price points.
Frankly, that's not supposed to be happening. We've heard endlessly that October was not a strong month in this economy. We know it from the tech businesses we have heard from. We know it from the giant industrials. We know it from the chemical companies and the materials companies....485 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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