Credit cards and credit lines give retailers headaches these days-—especially small retailers whose accounts receivable department is pretty much the owner’s desk. At no time in history has the landscape been so muddled.
To accommodate many of the questions and concerns ravaging your sleep, we’re dedicating our first RS:Live! conference call to the topic of credit lines, credit cards, and debit cards. Joining us will be RetailSpeaks Advisory Board member Richard Bodin (previously with Citibank Financial Services Division), ready to share his wisdom and experience as we discuss questions retailers have about the financial maze they face. [click here to continue…]
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According to a fax sent to retailers by William Arthur this afternoon, twenty-three full time positions are being eliminated in the print division-—ie, the entire third shift. The plan is to try rescheduling them into first and second shifts if possible.
It’s no shock to retailers paying vendor invoices with AmEx cards that the company is suddenly pulling back the reins on available credit. I know of several storefronts who have had their credit cut back-—or worse, cut off-—in spite of good payment history.
Independent retailers, you have a champion in Canada. Ironically, it’s someone from the ecommerce world who understands the importance of supporting local brick and mortars.
A savvy friend sent me the link to a home decor retailer’s blog, specifically to a post titled “Just Stop It!” The author, Joan Osofsky, voices the frustration many retailers feel these days regarding the constant doom and gloom in the news media (remember 
The winter show season is an endurance race. Unlike the summer circuit that spans two months, the winter circuit jams everything into four weeks-—this year, the biggest shows piled into only 21 days. It’s not hard to see the wear and tear on faces of vendors who attend all the biggies; it’s even easier to hear the exhaustion in what they say. 
This afternoon, Congress received a request from the Postmaster General asking permission to cut mail delivery to only five days a week. Ironically, the day that would be cut may well be a weekday-—not Saturday-—due to volume.
The rumors are true-—Swoozies is assuming ownership of several bankrupt Blue Tulip stores, as demonstrated by court filings certifying lease transfers filed the past six days.
