4.16.12

Haggar Announces New Leadership

 

3.19.12

BJA Auctions Antique

& Estate Jewelry

 

2.28.12

Final Phase of Continental GOB Sale

 

11.29,11

Continental Jewelry Closing in Tampa

 

11.15.11

Unico Designs

the look to hold Two-Store retirement

 

3.2.11

Surya Capital in Association with BJA Purchase Robbins Diamonds Inventory

 

11.11.10

Jewelers Could Have

A Happier Holiday This Year

 

8.23.10

Maharaja's Loses Beachfront Store

as Oil Wary Tourists Avoid the Gulf

 

7.28.10

Buxbaum Group Relocates

 

6.29.10

Michael Lebowitz Joins

Buxbaum Jewelry Advisors

 

6.21.10

Lisa Ketrick Joins

Buxbaum Jewelry Advisors

 

5.14.10

Gold-Buying Helps Jewelers

Weather Great Recession

 

3.29.10

Buxbaum Jewelry Advisors

Helps Hoff Family Jewelers

 

1.12.10

Rapid Sale of $1.5 M Inventory Shows  Demand for Value Jewelry

 

6.18.09

Highly successful sale for

Henricks Jewelers Bonita Springs

 

5.06.09

M.J. Christensen Plans To

Reopen Under New Name

 

5.04.09

Filene's Basement Files

For Chapter 11

 

4.29.09

M.J. Christensen

Store Closing

 

4.23.09

Reviewing All 'Available

Business Options’ for Filene's

 

3.24.09

Jewelry Superstore Offers

Huge Discounts In

Going Out Of Business Sale

 

11.26.08

Retailers to Shout 'Value!' from the Rooftops This Holiday Season

 

9.24.08

Buxbaum Forms Wholesale, Retail

Jewelry Liquidation Venture

 

7.21.08

Toys, Games, and Collectibles

Offered at Huge Discounts

 

7.17.08

Dismal Consumer Confidence

Undermines 'Immunity'

of Luxury Retail

 

7.17.08

Gigantic Inventory Clearance Sale

Makes Dream Kitchens A Reality

 

3.12.08

Western Wear Chains Offering Huge Savings at Special Inventory Sale

 

11.05.07

Shoppers Can Expect Quick Holiday  Bargains As Worried Retailers Cut Prices

 

10.24.07

Rosslyn Hotel Renovation

into Affordable and

Market-Rate Housing

 

9.10.07

Retailers's Shift Away

from Purchasing Contracts

 

7.09.07

Buxbaum Group Relocates

to Agoura Hills, CA

 

5.03.07

Downturn Means Uncertainty For

New Breed of Asset-Based Lenders

 

2.22.07

Collectors Art

Going-Out-of-Business Sale

 

11.02.06

Buxbaum Group Announces Senior Executive Changes

 

10.23.06

What Will the Holiday Season Bring

 

10.18.06

Marcos and York Join Buxbaum Group

Asset Appraisal Group

 

4.12.06

Acquisition of Honduran Factory to

Help Indosheen Regain Prominence

 

1.03.06

Buxbaum Group Readies

Indosheen for More Growth

 

11.09.05

 Confirmation Hearing on

Waterman Reorganization

 

10.25.05

Buxbaum Group

Gets Gramicci

Back On Track

 

10.20.05

Buxbaum Group the Key to

Sale of Rampage

 

2.17.04
Buxbaum Group Inventory
Appraisals Hit $5.0 Bil.
in 2003

 

1.7.04
David Buxbaum Named to Local
Airport and Hospital Boards

 

12.24.03

Right Start Stores Now in
Liquidation Mode, As Court
Rejects Offer On Business


12.9.03
Buxbaum Group Inventory
Appraisals Exceed $3.5 Bil.
on Target to Reach $5.0 Bil.
for 2003

 

12.4.03
Inventory Clearance Sales
Begin in All 142 FAO Schwarz,
Zany Brainy, and the
Right Start Stores

 

3.27.03
Buxbaum Group Appraised
Approx. $4.0 Billion
in Inventories in 2002

 

2.28.03
Court Approves GOB Sales
For Troutman's Emporium;
Buxbaum Group, Others
to Run Liquidation

 

DISMAL CONSUMER CONFIDENCE UNDERMINES ‘IMMUNITY’ OF LUXURY RETAIL, SAYS VETERAN RETAIL ANALYST - June retail sales reveal a rattled consumer obsessed with price

AGOURA HILLS, Calif. (7/17/08) – Luxury retailers’ immunity to the economic slump has been an article of faith on Wall Street, but that faith was shaken this month by pallid sales reports from several upscale chains. The erosion of this last bastion of certitude speaks volumes about consumer confidence in the United States, says Stevan Buxbaum, executive vice president of Agoura Hills, Calif.-based Buxbaum Group.

“The only thing we can count on is, we can’t count on anything,” Buxbaum observes. “Uncertainty is the watchword of the day.”

And both Wall Street and Main Street abhor uncertainty, he notes. “Consumers are going to be extremely careful with their purchases,” says the veteran retail consultant and analyst. “They want name brands or quality merchandise at a value price, and so chains that can offer them this—examples include Target, Kohl’s, TJX Cos., Aeropostale and Ross Dress For Less—will be clear winners moving forward.”

Retail sales reports for June underscored these trends. Even with economic stimulus checks worth a total of $50 billion in their pockets, shoppers opted not to splurge on luxury goods, but instead picked up low-cost staples at discount and warehouse club chains, Buxbaum says. “Same-store sales at Wal-Mart were up 6.1%, Costco’s rose 9% and BJ’s Wholesale posted a 16.5% increase. Although each benefited to some extent from rising gasoline prices at their fuel center operations, their stores alone still enjoyed healthy gains,” he notes. “Meanwhile, at the luxury end of the spectrum, Neiman Marcus, whose customer has long been considered too wealthy to be affected by a slump, was among the companies posting a same-store sales decline, with its results dipping 2.4%.”

Fueled by high gas prices and unsettling headlines about bank defaults, home foreclosures and the like, these economic jitters also will shape the important, back-to-school selling cycle over the rest of the summer, Buxbaum adds. Unlike certain department store chains which sell assortments by a multiplicity of independent brands, chains like Aeropostale and Target are better able to control the cost of their inventory as they are vertically integrated and control their own brands. That means they will be able to woo bargain-hunting parents by offering better deals on name-brand merchandise, he says. Indeed, Aeropostale, which sells popular clothing for teens at lower prices than its competitors, saw same-store sales rise by 12% in June, he notes. The New York-based chain also raised its second-quarter sales projections, citing successful promotions.

Tighter inventories also will help chains like Target and Aeropostale avoid painful markdowns, Buxbaum contends. “Retailers are going to have to be more discerning with their styles and offer narrower assortments. Instead of six colors, that might mean four colors,” he says. “Inventory control is absolutely critical.”

The imperative to keep inventories and costs at a minimum also will translate into increased pressure on manufacturers, Buxbaum adds. “Giving the retailer the opportunity to demand an additional, upfront markdown because you were late with a shipment is not a position you want to be in right now as a manufacturer,” he says. “It is going to be critical for the wholesalers to be absolutely on-time with their deliveries. Otherwise, they will get punished.”

Chains in markets where Port Washington, N.Y.-based Steve & Barry’s operates likely will face even stiffer competition during the back-to-school selling season, Buxbaum notes. Steve & Barry’s, which operates 276 stores in 39 states, filed for Chapter 11 bankruptcy earlier this month and could start liquidating inventories by the beginning of August. “It is quite possible Steve & Barry’s will be in liquidation for the entire back-to-school season,” Buxbaum says. “That will no doubt attract a lot of shoppers, because those deals will be hard to beat.”

Meanwhile, the luxury retailers that have long been considered beneficiaries of the bifurcated U.S. economy now face the prospect of ever-more-sluggish sales. “People need to start paying attention to the luxury sector,” Buxbaum advises. “We’re starting to see some cracks in that armor in the United States. Wealthy shoppers have stock portfolios that are going down, and they’re being inundated with the same unsettling economic news as everyone else. These doldrums are starting to affect everybody.”

About Buxbaum Group - Buxbaum Group has built its reputation for over 30 years as one of the largest liquidators and appraisers of retail and wholesale inventories across North America. While continuing to operate in those areas, the company has shifted its primary focus in recent years to turnaround investing.

Press Contacts: At Buxbaum Group, Stevan Buxbaum (612) 363-6517; at Parness & Associates Public Relations, Lisa Kreda or Bill Parness, (732) 290-0121