Riding The Economic Storm Out
In these desperate economic times, there are those who remain boldly optimistic. Take Burton M. Tansky, chairman/CEO of luxury good cataloger/retailer Neiman Marcus, for example.
Despite the the fact that total October sales for his company dropped 25%, to $286 million, and nearly 13%, to $986 million for the first quarter ended Nov. 1, Tansky was surprisingly upbeat. “”As we have said, we expect retail demand will remain weak for an extended period of time as our affluent customer reacts to the continuing volatility of the financial markets,” he said in a release. “However, based on our experience in previous business cycles, we believe our customers
