ON THE EVE OF FALL DELIVERIES

STATE OF FASHION--------------- With still another quarter filled with more losses I get the picture that maybe now the high end will see that the end is not near for this latest reversal of consumer spending...Neimans is still smarting from their losses and continues to find was to cut back without "telling the customer"----I am afriad that the booby prize for retailers will go to Saks after having spent north of 30 MILLION to redo a floor which is already a drain on their quarterly sales---somehow i believe there will be some sort of "surprise" out of that camp and I don't think they will be applauding --unless you applaud beheading................The cutback syndrome seems to effect both men's and women's apparel -----As i said 2 months ago ---WHERE ARE THE MERCHANTS ???????