Retail woes spread across all price points

Because of yesterday’s monumental news the Richmond Fed President Jeffrey Lacker immediately resigned for leaking Fed information before it was released, I did not write on two huge developments in US retailing that point to the troubling economy. Ralph Lauren — the iconic US retailer — is closing its flagship Manhattan store on 5th Avenue […]

Macy’s may the retail’s canary in coal mine

My colleagues at The New York Post have an exclusive story on Macy’s looking for a white knight to buy it, before an activist investor attempts to break it up. The hedge fund says that the value of Macy’s real estate is worth more than two times the current market cap of the stock. Macy’s […]

Deutsche chief Cryan sees “fatal consequences”

Deutsche Bank chief John Cryan fired his latest salvo not at his usual target Mario Draghi and the ECB, but directly to the German people. The chairman of the largest European bank told the press in a passion plea that if the ECB continues its negative interest rate policies, it could led to  “fatal consequences” […]

Asian manufacturers squeezing troubled US retailers

I’m hearing from two sources that there is a tremendous amount of holiday retail product sitting off the coast of the US. The excuse for the bottlenecks outside of West Coast ports is said to be union problems on the docks, but I’m told it has more to do with payments to Asian manufacturers and […]