Women’s Wear Daily

13 November 2012

Saks joined a growing list of retailers in lowering its fourth-quarter sales forecast, citing disruption from Hurricane Sandy, according to Women’s Wear Daily. But retailers like Saks aren’t panicking. “There’s probably no question there will be some intensification of the promotional calendar,” said Arnold Aronson, managing director of retail strategies at Kurt Salmon, in the article. “I don’t see across-the-board reductions. This is not a recession thing. It was an act of God changing business temporarily. Most customers have not lost considerable parts of their net worth. Sandy will defer some business from early November into late November and into December.”

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