Retail Sector Into Holiday 2014 Still Faces Headwinds Despite Improvement in Jobs Data

2014-10-10

Employment numbers continue to improve, but Michael Kaplan, CEO & Co-Founder of Fashion to Figure, tells TheStreet’s Jill Malandrino he is concerned about consumer discretionary spending for holiday 2014 despite the compelling data. Wage stagnation and the rise of cost of living over the past five years impacts the middle income consumer significantly. That, coupled with a dramatically promotional environment, not just for holiday but all year round, lends to margin pressure. One way to stand out in this environment is to continually focus on service and provide a great offering like Kaplan strives to do at FTF. That said, Kaplan believes longer-term there is much more we can do to improve the economy and this is not the 'new normal'.