http://personalmoneystore.com/moneyblog/2009/02/13/online-payday-loans-clothes/ Thrifty teens dont use online payday loans
It seems you wont see shoppers taking out online payday loans to buy expensive clothing brands. It seems even teenagers are jumping on the economic bandwagon.
Abercrombie & Fitch reported a big drop in third-quarter profits, but the retailer was expecting it. The clothing companys profits dropped 46 percent.
Other big names have hard times
Abercrombie also owns the Hollister brand, but brand loyalty seems to be a thing for better economic times. The same is true for Nordstrom, J.C. Penney and Kohls, who all reported a decline in earnings.
Meanwhile, thrift stores and discount retailers are seeing profits rise. I guess people dont need online payday loans to buy used clothes.
Retailer stands its ground
Abercrombie has said it will not cut its prices. Because of this, stock watcher Dividend recommends that investors do not buy stock in the company. Even Starbucks has come around and started cutting customers deals, but Abercrombie says it wont budge. I guess well see. To read more please visit... http://personalmoneystore.com/moneyblog/2009/02/13/online-payday-loans-clothes/
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