DEREK SHAW

MEDIA BOOK

FM312A- RETAIL BUYING

SPRING 2013

PURPOSE: INCREASE KNOWLEDGE OF RETAIL INDUSTRY

INSTRUCTOR: SANDRA HENDERSON WILLIAMS

TABLE OF CONTENTS

ARTICLE TITLE: NRF ANNOUNCES INDUSTRY PERCEPTION CAMPAIGN PAGE #1-2- THIS IS RETAIL: CAREERS, COMMUNITY, INNOVATIONSOURCE: NATIONAL RETAIL FEDERATION (NRF.COM)DATE: APRIL 2013

SUMMARY #1 PAGE #3

ARTICLE TITLE: SHOULD YOU GO IT ALONE OR PAGE #4-10GO THROUGH A PROVIDER?SOURCE: NATIONAL RETAIL FEDERATION (NRF.COM) WHITE PAPERDATE: APRIL 2013

SUMMARY #2 PAGE #11

ARTICLE TITLE: TOP 250 GLOBAL RETAILERS 2012 PAGE #12SOURCE: NATIONAL RETAIL FEDERATION (NRF.COM)

SUMMARY #3 PAGE #13

ARTICLE TITLE: FASHION SWEET SPOT: THE $400 DRESS PAGE #14-16SOURCE: THE WALL STREET JOURNAL DATE: FEBRUARY 6, 2013

SUMMARY #4 PAGE #17

ARTICLE TITLE: A NEW RX FOR TAX BILLS PAGE # 18-19SOURCE: THE WALL STREET JOURNALDATE: FEBRUARY 7, 2013

SUMMARY #5 PAGE #20

ARTICLE TITLE: RETAIL SHOWED STRENGTH IN JANUARY PAGE # 21SOURCE: THE WALL STREET JOURNAL DATE: FEBRUARY 8, 2013

SUMMARY #6 PAGE #22

ARTICLE #1NRF ANNOUNCES INDUSTRY PERCEPTION CAMPAIGN - THIS IS RETAIL: CAREERS, COMMUNITY, INNOVATIONFOR IMMEDIATE RELEASESHARI BROWN OR KATHY GRANNIS (855) NRF-PRESS

WASHINGTON, APRIL 11, 2013 – THE NATIONAL RETAIL FEDERATION WILL ANNOUNCE TO-DAY A NEW INITIATIVE TO BROADEN AND ENHANCE PERCEPTIONS OF THE INDUSTRY BE-YOND PROVIDING CONSUMERS WITH GREAT PRODUCTS. NRF’S THIS IS RETAIL: CAREERS, COMMUNITY, INNOVATION CAMPAIGN, WILL HIGHLIGHT THE INDUSTRY’S OPPORTUNITIES FOR LIFE-LONG CAREERS, HOW RETAILERS STRENGTHEN COMMUNITIES AT HOME AND ABROAD, AND THE CRITICAL ROLE THAT RETAIL PLAYS IN DRIVING INNOVATION.

NRF PRESIDENT AND CEO MATTHEW SHAY TODAY WILL ANNOUNCE THE CAMPAIGN AND ADDRESS STUDENTS AND TOP RETAIL EXECUTIVES FROM DIVERSE COMPANIES SUCH AS ONE KINGS LANE, MACY’S, HOME DEPOT, WALMART, AND WALGREENS DURING HIS RE-MARKS AT THE GLOBAL RETAILING CONFERENCE IN TUCSON, AZ. ADDITIONALLY, SHAY TODAY SENT A LETTER TO CAPITOL HILL TO HIGHLIGHT THE IMPORTANCE OF THE INITIA-TIVE AND TO ENCOURAGE LARGER DISCUSSIONS ABOUT THE IMPACT RETAIL HAS ON THE ECONOMY, CONSUMERS AND AMERICAN JOBS.

“OUR INDUSTRY HAS A PERCEPTION PROBLEM – AND WE NEED TO ADDRESS IT HEAD ON. WE WILL COUNTER THE MYTHS ABOUT OUR INDUSTRY WITH RESEARCH AND STORIES THAT SHOW THE TRUE FACE OF RETAIL. THAT, IN FACT, RETAIL OFFERS RICHLY REWARD-ING AND DIVERSE CAREER OPPORTUNITIES, IS CENTRAL TO COMMUNITIES, BIG AND SMALL, AND THAT RETAIL IS AT THE FOREFRONT OF INNOVATION. BY FUNDAMENTALLY TRANSFORMING THE PERCEPTION OF RETAIL, WE WILL ENSURE THE INDUSTRY CONTIN-UES TO THRIVE AND GROW.”

RETAIL INDUSTRY OFFERS WHAT YOUNG ADULTS ARE LOOKING FOR IN A CAREER, AC-CORDING TO NEW NRF FOUNDATION/BIGINSIGHT RESEARCH

IN AN EFFORT TO RAISE AWARENESS ABOUT THE CAREER OPPORTUNITIES THAT EXIST IN THE RETAIL INDUSTRY, AND HIGHLIGHT WHAT YOUNG ADULTS ARE LOOKING FOR IN A JOB, NRF TODAY ALSO RELEASED NEW RESEARCH THAT SHEDS LIGHT ON WHY NRF IS UN-DERTAKING THE TASK OF BROADENING THE PERCEPTIONS THAT EXIST ABOUT THE RETAIL INDUSTRY.

IN GENERAL, THE RESEARCH SHOWS THAT THE AVERAGE YOUNG ADULT VALUES ASPECTS OF COMMUNITY, INNOVATION AND PROSPEROUS CAREER OPPORTUNITIES WHEN CON-SIDERING A COMPANY AS A POTENTIAL EMPLOYER. ONE-QUARTER (25.3%) OF 18-24 YEAR OLDS SAY COMPANIES WHOSE MISSION AND VALUES MATCH THEIR OWN IS IMPORTANT TO THEM WHEN CONSIDERING A FUTURE EMPLOYER, AND ABOUT 1 IN 5 (18.2%) SAY THAT HAVING A REPUTATION FOR GIVING BACK TO THE COMMUNITY IS IMPORTANT. ADDITION-ALLY, NEARLY FOUR IN 10 (38.9%) SAY THAT LEARNING A NEW OR INNOVATIVE TECHNOLO-GY IS AN EXPERIENCE AND SKILL THEY’D WANT TO GAIN AT THEIR FIRST “REAL” JOB.

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“RETAIL OFFERS WHAT YOUNG ADULTS VALUE IN A CAREER—YET TOO FEW ARE BUYING INTO THE OPPORTUNITIES THAT EXIST; WE WANT RETAIL TO BE THE FIRST PLACE YOUNG ADULTS SHOP FOR A CAREER,” SAID SHAY. “RETAIL HELPS PUSH BOUNDARIES IN INNOVA-TION, IT BRINGS GOOD TO PEOPLE ACROSS THE WORLD THROUGH CHARITABLE ACTIONS, IT IS THE FOUNDATION OF EVERY MAIN STREET IN AMERICA, AND IT OFFERS LIFE-LONG CA-REERS IN AREAS SUCH AS REAL ESTATE, SOFTWARE DEVELOPMENT, PRIVATE INVESTIGAT-ING AND EVEN ANIMAL TRAINING AND PHOTOGRAPHY. THIS IS RETAIL IS ABOUT TELLING THAT STORY.”

THE SURVEY ALSO EXAMINES THE JOB PRIORITIES OF COLLEGE STUDENTS WHO HAVE AL-READY OR ARE CURRENTLY PURSUING A CAREER IN RETAIL. ACCORDING TO THESE STU-DENTS, THE NUMBER-ONE REASON THEY’RE INTERESTED IN RETAIL FOR A CAREER IS BE-CAUSE IT’S “EXCITING COMPARED TO OTHER INDUSTRIES” (70.2%). STUDENTS ARE ALSO STRONGLY DRAWN TO THE LEADERSHIP OPPORTUNITIES IN THE INDUSTRY (43.6%) AND THE WORK/LIFE BALANCE THEY CAN FIND WITH A CAREER IN RETAIL (26%).

NRF LAUNCHES THISISRETAIL.ORG TO SHOWCASE INSPIRING RETAIL STORIES

A CENTERPIECE OF THE CAMPAIGN IS AN INTERACTIVE SITE, WWW.THISISRETAIL.ORG, WHICH WILL FULLY LAUNCH IN JUNE WITH DYNAMIC, ORIGINAL CONTENT, THE LATEST IN-DUSTRY NEWS, RETAIL CASE STUDIES AND RESEARCH.

THE CAMPAIGN WILL ALSO BE MARKED BY SIGNIFICANT INVESTMENTS IN GRASSROOTS, SOCIAL MEDIA AND COMMUNICATIONS, INCLUDING:

• A THIS IS RETAIL ROAD SHOW AND CALENDAR OF EVENTS THAT WILL INCLUDE THOUGHT-LEADERSHIP FROM INDUSTRY INSIDERS ON HOW CHANGING THE PERCEPTION OF RETAIL IS CRITICAL TO GROWTH;• THE RELEASE OF NEW, ORIGINAL RESEARCH THAT EXPLORES TRENDS WITHIN COMMUNI-TY-BUILDING, RETAIL INNOVATION AND WHAT YOUNG PEOPLE ARE LOOKING FOR AS THEY ENTER THE JOB MARKET;• UNIQUE SOCIAL MEDIA CROWD-SOURCING INITIATIVES, WITH HEAVY EMPHASIS ON GATHERING CREATIVE CONTENT AND STORIES;• NEW GRASSROOTS INITIATIVES TO ENHANCE POLICY-MAKERS’ UNDERSTANDING OF THE INDUSTRY, INCLUDING RETAIL ROUNDTABLES IN TARGETED CONGRESSIONAL DISTRICTS;• NATIONAL ADVERTISING IN MULTIPLE MEDIA INCLUDING PRINT, DIGITAL AND RADIO.

AS THE WORLD’S LARGEST RETAIL TRADE ASSOCIATION AND THE VOICE OF RETAIL WORLD-WIDE, NRF REPRESENTS RETAILERS OF ALL TYPES AND SIZES, INCLUDING CHAIN RESTAU-RANTS AND INDUSTRY PARTNERS, FROM THE UNITED STATES AND MORE THAN 45 COUN-TRIES ABROAD. RETAILERS OPERATE MORE THAN 3.6 MILLION U.S. ESTABLISHMENTS THAT SUPPORT ONE IN FOUR U.S. JOBS – 42 MILLION WORKING AMERICANS. CONTRIBUTING $2.5 TRILLION TO ANNUAL GDP, RETAIL IS A DAILY BAROMETER FOR THE NATION’S ECONOMY. NRF’S THIS IS RETAIL CAMPAIGN HIGHLIGHTS THE INDUSTRY’S OPPORTUNITIES FOR LIFE-LONG CAREERS, HOW RETAILERS STRENGTHEN COMMUNITIES AT HOME AND ABROAD, AND THE CRITICAL ROLE THAT RETAIL PLAYS IN DRIVING INNOVATION. WWW.NRF.COM

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SUMMARY

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ARTICLE TITLE: NRF ANNOUNCES INDUSTRY PERCEPTION CAMPAIGN - THIS IS RE-TAIL: CAREERS, COMMUNITY, INNOVATIONSOURCE: NATIONAL RETAIL FEDERATION (NRF.COM)DATE: APRIL 2013

ARTICLE #1 SUMMARY

THE ARTICLE TALKS ABOUT HOW NRF IS MAKING THE STEP TO SHOW WHAT THE RETAIL INDUSTRY DOES FOR EVERYBODY. THE NRF REPRESENTS ALL DIFFERENT KINDS OF RETAILERS INCLUDING CHAIN RESTAURANTS AND INDUSTRY PARTNERS FROM THE UNITED STATES AND 45 COUNTRIES ABROAD. RETAILERS OPERATE MORE THAN 3.6 MILLION US ESTABLISHMENTS THAT SUPPORTS 1 IN 4 JOBS; WHICH MAKES 42 MILLION WORKING AMERICANS. THIS CONTRIBUTES $2.5 TRILLION TO ANNUAL GDP. THE NRF IS TRYING TO SHOW WHAT GOOD RETAILERS DO FOR US JOBS, A LOT OF YOUNG ADULTS MIGRATE TO RETAIL STORES BECAUSE IT IS EXCITING, THEY ARE STRONGLY DRAWN TO THE LEADERSHIP OPPORTUNITIES AND THE WORK/ LIFE BAL-ANCE THEY CAN FIND IN A CAREER IN RETAIL. NRF WILL BE LAUNCHING THISISRETAIL.ORG IN JUNE WHICH SHOWCASES IN-SPIRING RETAIL STORES WHICH IS INTERACTIVE AND WILL INCLUDE DYNAMIC, ORIGI-NAL CONTENT, ALL THE LATEST NEWS IN THE RETAIL INDUSTRY AND CASE STUDIES.

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ARTICLE TITLE: SHOULD YOU GO IT ALONE OR GO THROUGH A PROVIDER?SOURCE: NATIONAL RETAIL FEDERATION (NRF.COM) WHITE PAPERDATE: APRIL 2013

ARTICLE #2 SUMMARY

IN THIS ARTICLE IT DISCUSSES IF YOU ARE READY TO TAKE ON EBAY / AMAZON ON-LINE STORES OR IF YOU SHOULD LET A PROFESSIONAL SELL YOUR ITEMS ONLINE. THE ARTICLE BEGINS TALKING ABOUT EBAY AND DISCUSSES YOU NEED TO BE ABLE TO KEEP UP WITH UPLOADING AND MAINTAING YOUR PRODUCTS WITH COSTS, SHIPPING, CONDITIONS AND QUANTITY. IT ALSO DISCUSSES KEEPING YOU CUSTOMERS HAPPY AND SHOWING THEY ARE HAPPY, FOR EXAMPLE RANKING HOW WELL THE ITEM WAS AND HOW QUICKLY THEY RECEIVED IT KEEPING EVERY SECTION AT FIVE STARS. UPDATING YOUR PRODUCT LIST AND KEEPING DATA RIGHT IS ALSO SOMETHING THAT IS IMPORTANT TO HAVE A SUCCESSFUL EBAY STORE. AMAZON YOU NEED TO MAKE SURE YOU KEEP UP WITH THEIR UPDATES, WHICH CAN BE A CHALLENGE; ALSO YOU NEED TO MAKE SURE YOUR PRODUCTS ARE PROPERLY MATCHED WITH THE CORRECT LISTINGS IN THE AMAZON CATALOG. ANOTHER BIG THING WITH AMAZON IS COMPETITIVE PRICING, OFFERING THE BEST PRICES ON YOUR PRODUCTS AND BE ABLE TO CHANGE PRICES WHEN AMAZON MAKES ANY CHANGES.

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TOP 250 GLOBAL RETAILERS

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KROGER SUMMARY

ARTICLE TITLE: TOP 250 GLOBAL RETAILERS 2012SOURCE: NATIONAL RETAIL FEDERATION (NRF.COM)

ARTICLE #3 SUMMARY

I CHOSE THE KROGER CO FROM “THE TOP 250 GLOBAL RETAILERS” THEY WERE RANKED AT NUMBER FIVE ON THE LIST. IT ALL STARTED IN 1883 BY A MAN NAMED BAR-NEY KROGER WHO USED HIS LIFE SAVINGS OF $372 TO OPEN A GROCERY STORE IN CIN-CINNATI, OHIO. KROGER’S BELIEFS STARTED FROM BARNEY KROGER WHO ALWAYS BE-LIEVED THE CUSTOMER NEEDED TO BE SERVED AND TREATED WELL. KROGER ALSO USE TO BUY PRODUCE FROM LOCAL FARMERS IN THE AREA AND SELL THEIR PRODUCE IN HIS STORE, THIS IS JUST ONE OF THE MANY WAYS HE HELPED HIS COMMUNITY. KROGER OPERATES 2,424 GROCERY RETAIL STORES IN 31 STATES, THEY HAVE FOR-MATS SUCH AS SUPERMARKETS, PRICE-IMPACT WAREHOUSE STORES, AND MULTI-DE-PARTMENT STORES. THEY ALSO OPERATE 791 CONVENIENCE STORES AND 348 FINE JEWEL-RY STORES UNDER NAMES LIKE FRED MEYER JEWELERS, LITTMAN JEWELERS, BARCLAY JEWELERS AND FOX’S JEWELERS; THIS IS A HIGH-MARGIN BUSINESS WITH A GOOD CASH FLOW FOR KROGER. KROGER’S CURRENT STOCKS ARE PRICED AT $33.30 AND HAVE RAISED 1.77% AND CONTINUE TO RAISE MONTHLY.

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ARTICLE #4 WALL STREET JOURNAL

FASHION SWEET SPOT: THE $400 DRESS‘CONTEMPORARY’ DESIGNERS DRAW YOUNG STYLE ENTHUSIASTS WITH WEARABLE, NOT-SO-PRICEY COLLECTIONSBY ELIZABETH HOLMES

WHERE DOES A FASHION-CONSCIOUS WOMAN SHOP WHEN SHE GRADUATES FROM MALL CHAINS BUT ISN’T READY TO BREAK THE BANK ON HIGH-END DESIGNER WEAR? INCREAS-INGLY, THE ANSWER IS A MIDDLE TIER IN THE FASHION ECOSYSTEM THAT RETAILERS CALL “CONTEMPORARY.” LABELS HERE, INCLUDING TRACY REESE, REBECCA MINKOFF AND NA-NETTE LEPORE, HAVE BEEN SELLING WELL RECENTLY, ESPECIALLY WITH YOUNG CREATIVE PROFESSIONALS IN WORKPLACES WHERE DRESS CODES AREN’T LIMITED TO CONSERVATIVE VARIATIONS ON THE TAILORED SUIT.TODAY’S CONTEMPORARY DESIGNERS, WHO ALSO INCLUDE THE LIKES OF MILLY BY MI-CHELLE SMITH AND TIBI BY AMY SMILOVIC, CAN BE A KIND OF FASHION ENTRY POINT. A YOUNG WOMAN BUYS A FEW DRESSES BY TRACY REESE AND ONE DAY SHE MIGHT BE READY TO SPLURGE ON JASON WU.AT NEW YORK FASHION WEEK, WHICH STARTS TODAY, THESE ACCESSIBLE DESIGNERS’ RUN-WAY SHOWS AREN’T THE BIGGEST, BUZZIEST OR MOST STAR-STUDDED. BUT THEY BOAST SOMETHING MANY OTHERS LACK—CLOTHES THAT YOUNG WOMEN CAN ACTUALLY WEAR IN THEIR REAL LIVES.GENERATIONS AGO, SOME OF THESE GATEWAY LABELS MIGHT HAVE OPERATED IN THE CON-SERVATIVE SPACE THAT DEPARTMENT STORES CALL “BRIDGE.” TODAY, THESE ENTRY-LEVEL NAMES HAVE RAISED THE FASHION BAR AND APPEAL TO A YOUNGER CUSTOMER. “CONTEM-PORARY DESIGNERS NOW ARE REALLY WORTH THE ATTENTION OF THE FASHION WORLD,” SAYS STEPHANIE SOLOMON, FASHION DIRECTOR AT BLOOMINGDALE’S. “THAT HASN’T AL-WAYS BEEN THE CASE.”WITH PRICES RANGING FROM ABOUT $200 TO $500, MANY CONTEMPORARY LABELS SHARE A SWEET SPOT—THE $400 DRESS. IT’S BEAUTIFULLY MADE, STYLISH AND SEXY, A PIECE A WOMAN FEELS GREAT WEARING TO THE OFFICE OR TO A SPECIAL OCCASION. IT ALSO AT-TRACTS YOUNG FASHION ENTHUSIASTS WHO MIGHT BUY ONE AND CHERISH IT, EVENTUAL-LY REPEATING THAT PATTERN UP THE DESIGNER PRICE LADDER AS SHE EARNS AND SPENDS MORE.IN SOME CASES, CUSTOMERS OF HIGHER-PRICED LINES ARE DIPPING DOWN. A WOMAN WHO MIGHT THINK OF HERSELF AS ONLY A DESIGNER-TIER SHOPPER “NOW CAN FIND HIGHLY IN-TERESTING OPTIONS THAT AREN’T AS PRICEY AS WHAT SHE’S USED TO,” SAID LINDA FARGO, SENIOR VICE PRESIDENT OF FASHION AND STORE PRESENTATION AT BERGDORF GOODMAN, IN AN EMAIL.A BIG ELEMENT IN THESE DESIGNERS’ GROWTH IS THAT MOST MIRROR THEIR CUSTOMERS—WORKING MOTHERS WITH YOUNG CHILDREN. “THESE ARE YOUR GIRLS, THEY’RE YOU,” MS. SOLOMON SAYS. (CONT. ON NEXT PAGE)

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JORDAN HOLT, A 25-YEAR-OLD LIVING IN MEMPHIS AND STUDYING FOR THE BAR EXAM, SAYS SHE BUYS MOST OF HER CLOTHES AT J.CREW OR BANANA REPUBLIC. BUT WHEN SHOP-PING FOR A SPECIAL OCCASION, SHE SAYS, SHE HEADS TO A BOUTIQUE NEARBY WHERE SHE LOOKS FOR PIECES FROM TIBI OR REBECCA TAYLOR. “WHEN I WEAR THEM, I JUST FEEL LIKE I’M WEARING SOMETHING SO NICE,” SHE SAYS, ADDING SHE HOPES TO BUY MORE IN THE FU-TURE.DESIGNERS OPERATING SOLELY IN THE CONTEMPORARY MARKET FIND THE COMPETI-TION IS FIERCE. FAST-FASHION CHAINS LIKE ZARA AND H&M OFFER CONTEMPORARY STYLE AT MUCH LOWER PRICES. AND MANY ESTABLISHED HIGH-END DESIGNERS OFFER CONTEM-PORARY LINES WITH SOME EXTRA BRAND CACHET, WHETHER IT’S DONNA KARAN’S DKNY OR MARC BY MARC JACOBS.A NEW CONTEMPORARY LABEL RARELY FINDS IT POSSIBLE TO MOVE UP TO A HIGHER PRICE TIER. MOST CONTEMPORARY DESIGNERS SAY THEY ARE HAPPY WHERE THEY ARE. “I DON’T LIKE DESIGNING JUST FOR DESIGNING SAKE,” SAYS TRACY REESE. “IF THE CLOTHING ISN’T GETTING USED, I DON’T FEEL LIKE I’VE DONE MY JOB WELL.”THE HIGH-END DESIGNER CUSTOMER TENDS TO BE AN OLDER WOMAN, MS. REESE SAYS, WITH “ISSUES YOU NEED TO ADDRESS,” SUCH AS BY ADDING SLEEVES TO A GARMENT. CON-TEMPORARY CUSTOMERS, ON THE OTHER HAND, TEND TO BE YOUNG AND OPEN TO EXPERI-MENTING WITH LENGTHS, SHAPES OR MATERIALS.WHILE FEW CONTEMPORARY LINES SHOW UP ON THE RED CARPET, THERE ARE OTHER BRANDING MOMENTS. MS. REESE’S DESIGNS HAVE BEEN SELECTED SEVERAL TIMES BY FIRST LADY MICHELLE OBAMA FOR HIGH-PROFILE APPEARANCES, INCLUDING HER SPEECH AT THE 2012 DEMOCRATIC NATIONAL CONVENTION.FEW OTHER CONTEMPORARY DESIGNERS UNDERSTAND THEIR CORE CUSTOMERS’ LIFE-STYLE BETTER THAN AMY SMILOVIC, THE DESIGNER BEHIND TIBI. SHE WORKED IN MAR-KETING AT OGILVY & MATHER AND AMERICAN EXPRESS BEFORE LAUNCHING THE LABEL SOME 15 YEARS AGO. “WHEN YOU HAD THE BANANA REPUBLIC SUIT AT AMERICAN EXPRESS, NINE OTHER WOMEN ON YOUR FLOOR BETWEEN THE AGES OF 25 AND 35 ALL HAD THE SAME SUIT,” MS. SMILOVIC SAYS. “IT WASN’T VERY CREATIVE.”MS. SMILOVIC LEFT THE CORPORATE WORLD IN 1997, JUST AS DRESS CODES BEGAN TO RE-LAX. SHE STARTED TIBI TO BE A MIDPRICE ALTERNATIVE AND SAYS SHE UNDERSTANDS WHAT IT TAKES TO “PASS MUSTER” IN THE BOARDROOM.THE RESULT IS A DESIGN AESTHETIC THAT CAN BE MORE MASCULINE THAN SOME OF HER DESIGN PEERS’. SHE IS KNOWN FOR BOXY TOPS, OFTEN PAIRED WITH SLIM PANTS OR A PEN-CIL SKIRT. HER 2013 PRE-FALL COLLECTION, IN STORES IN JULY, INCLUDES A TAILORED PANT-SUIT IN ELECTRIC BLUE WITH A BLACK-SLEEVED JACKET.A MOTHER OF TWO WHO LIVES IN CONNECTICUT AND WORKS IN A TRENDY NEW YORK CITY NEIGHBORHOOD, MS. SMILOVIC SAYS SHE DESIGNS TO FIT HER OWN LIFESTYLE. “IT’S LIKE, HOW CAN I DRESS SO THAT THE MOMS WON’T THINK I’M A FREAK IN GREENWICH? AND THEN I CAN’T LOOK LIKE A GREENWICH MOM TO MY BROOKLYN DESIGN TEAM,” SHE SAYS. MILLY’S MICHELLE SMITH STARTED HER CAREER AT HERMÈS AND CHRISTIAN DIOR BEFORE LAUNCHING OWN LINE IN (CONT ON NEXT PAGE)

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2001. SHE SAYS SHE IS WELL AWARE OF THE LUXE FABRICS USED IN HIGH-END COLLECTIONS AND OFTEN FEELS TEMPTED BY THEM FOR MILLY. THE LABEL’S LOWER PRICE POINT DOESN’T RULE OUT THOSE KINDS OF MATERIALS, MS. SMITH SAYS. IT JUST MEANS GETTING MORE INVENTIVE.“IT’S VERY EASY TO CREATE A $4,000 DRESS,” MS. SMITH SAYS. “IT’S NOT SO EASY TO CREATE A BEAUTIFUL DRESS THAT’S $400.”THE MILLY SPRING 2013 OFFERING INCLUDES A $495 SILVER-LEATHER PYTHON-EMBOSSED PENCIL SKIRT THAT IS 21¼ INCHES LONG, AND A $375 MINI SKIRT IN THE SAME FABRIC THAT IS ALMOST 8 INCHES SHORTER.CONTEMPORARY CUSTOMERS STUDY RUNWAYS CLOSELY. THEY WATCH SHOWS LIVE VIA ONLINE STREAMS AND SHARE PICTURES ON SOCIAL MEDIA—AND THEY WANT TO BUY WHAT THEY SEE.“SOMETHING JUST SPARKS INSIDE THEM WHEN THEY SEE IT WITH ALL THE GLAMOUR OF THE RUNWAY,” SAYS DESIGNER NANETTE LEPORE. “IT MAKES PEOPLE WANT TO HAVE IT EXACTLY AS IT WAS SHOWN.” HER CUSTOMERS, SHE ADDS, OFTEN ASK FOR THE SEASON’S LOOK BOOK FOR STYLING TIPS.SOME OF HER RUNWAY LOOKS HAVE THEATRICAL ELEMENTS, LIKE A COMPLETELY OPEN BACK OR A FULL SKIRT MADE OF SEVERAL YARDS OF FABRIC. “THOSE ARE THINGS WE CAN TWEAK AND BRING DOWN TO REALITY,” MS. LEPORE SAYS, THOUGH AS A RULE SHE TRIES NOT TO MODIFY TOO MUCH.CONTEMPORARY DESIGNERS ARE ACTIVE ON SOCIAL MEDIA, SHOWCASING THEIR LIVES AND TALKING DIRECTLY TO THEIR CUSTOMERS ON TWITTER AND INSTAGRAM. DESIGNER REBEC-CA MINKOFF, WHO LAUNCHED HER ACCESSORIES LINE IN 2005 AND APPAREL IN 2009, DECID-ED TO WEIGH IN ON A BLOG WITH A POST ABOUT HER HANDBAG.“THE LOYALTY THAT WE SAW BECAUSE OF THAT—THAT I WASN’T SOME PERSON WHO WAS TOO GOOD FOR THEM AND WAS IN AN IVORY TOWER—JUST SHOWED US THAT IT WAS FAR WORTH IT TO BE IN TOUCH WITH OUR CUSTOMER,” MS. MINKOFF SAYS.IN NOVEMBER, WHILE GETTING READY FOR THE FOOTWEAR NEWS ACHIEVEMENT AWARDS, MS. MINKOFF POSTED A PICTURE ON INSTAGRAM OF HER FEET WITH A MINIMALIST SIL-VER-STRAP HEEL ON ONE FOOT AND A BLACK HEEL WITH MORE STRAPS ON THE OTHER.“CAN’T DECIDE WHICH SHOES TO WEAR FOR TONIGHT’S #FNAWARDS. HELP ME CHOOSE!” MS. MINKOFF WROTE IN THE CAPTION. MORE THAN 200 PEOPLE WEIGHED IN WITH COMMENTS. LATER, WHEN SHE POSTED A PICTURE OF THE WINNING SHOE (THE BLACK ONE), IT RECEIVED MORE THAN 4,000 “LIKES.”

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SUMMARY

ARTICLE TITLE: FASHION SWEET SPOT: THE $400 DRESSSOURCE: THE WALL STREET JOURNAL DATE: FEBRUARY 6, 2013

ARTICLE #4 SUMMARY

IN THIS ARTICLE A MAJOR QUESTION IS ASKED “WHERE DOES A FASHION-CONSCIOUS WOMAN SHOP WHEN SHE GRADUATES FROM MALL CHAINS BUT ISN’T READY TO BREAK THE BANK ON HIGH-END DESIGNER WEAR?” (HOLMES). THE ARTICLE CONTINUES WITH THE ANSWER OF “CONTEMPORARY” IT HAS BEEN SELLING WELL AND IS PRAISED BY WOM-AN WHO CARE WHAT THEY DRESS LIKE AND DON’T WANT TO LOOK LIKE THE GIRL NEXT TO HER. CONTEMPORARY IS SHOWN AT NEW YORK FASHION WEEK, BUT DOES NOT GET THE SAME RESPONSE AS CHANEL, JASON WU AND LOUIS VUITTON; CONTEMPORARY DOES HAVE SOMETHING THESE DESIGNERS DON’T HAVE AND THAT IS CLOTHES YOUNG WOMEN CAN ACTUALLY AFFORD AND WEAR. WHEN IT COMES TO MAKING A DRESS IT IS HARD TO MAKE A STYLISH AND WELL CONSTRUCTED DRESS AT $400, BUT IT IS EASY TO MAKE A $4,000 DRESS MAINLY BECAUSE OF MATERIALS THAT ARE USED IN MAKING A DRESS. IT JUST MEANS YOU NEED TO BE SMARTER WHEN USING EXPENSIVE MATERIALS. CONTEMPORARY IS BECOMING MORE POPULAR AND BEING WORN BY NOT ONLY YOUNG WOMEN, BUT WOMEN WHO ARE SMART WITH THEIR MONEY AND THEY STILL LOOK JUST AS FASHIONABLE.

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ARTICLE #5

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ARTICLE TITLE: A NEW RX FOR TAX BILLSSOURCE: THE WALL STREET JOURNALDATE: FEBRUARY 7, 2013

ARTICLE #5 SUMMARY

THE ARTICLES DISCUSES HOW DRUG MAKERS ARE TAKING THE STEPS TO LOWER THEIR TAX RATES. BRISTOL-MYERS SQUIBB CO WOULD BE DOWN FROM THE PREVI-OUS YEAR RATE OF 23% TO 16% AND AMGEN INC PAID 15.9% TAX RATE LAST YEAR AND IS EXPECTED TO PAY 14% OR 15% THIS YEAR. THE REDUCTIONS IN TAX RATES COULD MEAN HUNDREDS OF MILLIONS OF DOLLARS IN EXTRA PROFIT FOR DRUG MAKERS. FOR BRISTOL THE LOWER TAX RATE COULD MEAN $200 MILLION IN PROFIT. GILEAD COULD CUT ITS OVERALL TAX RATE TO 21% OR 22% THIS IS ONLY A PREDICTION SINCE THEIR HEPATITIS C DRUG HAS NOT YET BEEN APPROVED, IF IT DOES BECOME APPROVED THEY COULD EARN $7 BILLION A YEAR IN WORLD-WIDE SALES. THE OPPORTUNITY TO CUT TAX RATES IS AVAILABLE TO MULTINATIONAL COM-PANIES WHO ARE OF INTANGIBLE ASSETS, WHICH INCLUDE SOFTWARE, KNOW HOW OR PATENT-PROTECTED DRUGS. FINANCIAL ACCOUNTING RULES ALLOW COMPANIES TO COMBINE EARNINGS FROM FOREIGN AFFILIATES WHO HAVE REVENUE IN THE U.S. WITHOUT DEALING WITH U.S. TAX BURDENS.

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ARTICLE TITLE: RETAIL SHOWED STRENGTH IN JANUARYSOURCE: THE WALL STREET JOURNAL DATE: FEBRUARY 8, 2013

ARTICLE #6 SUMMARY

THE ARTICLE DISCUSSES HOW IN JANUARY IT IS A MONTH FULL OF PROMOTIONS TO CLEAR THE HOLIDAY MERCHANDISE AND START MAKING ROOM FOR THE SPRING MER-CHANDISE. SALES IN JANUARY WERE HELPED BY TAX INCREASES, GROWTH IN JOBS AND INCREASED WEALTH FROM HOME PRICES AND THE STOCK MARKET. THE ARTICLE BEGINS TO DISCUSS HOW RETAILERS LIKE MACY’S INC, KOHL’S CORP, TARGET, GAP INC AND NORDSTROM DID DURING THE MONTH OF JANUARY. MACY’S INC DID VERY WELL DURING JANUARY WITH SALES RISING 11.7% AND THEY WERE ONLY EX-PECTING 6.4%. KOHL’S CORP DID A 13.3% RISE IN SAME-STORE SALES, THEY WERE ONLY EXPECTING TO DO 3.1%. TARGET CORP HAD A 3.1% RISE IN JANUARY AND THEY WERE ONLY EXPECTING 1.7%. GAP INC ROSE TO 8% AND DOUBLED THE ESTIMATED 4%, GAP STORES POSTED 8% GROWTH AND SALES AT BANANA REPUBLIC ROSE 8% AS WELL. NORD-STROM SAME-STORE SALES ROSE TO 11.4 % AND THEY ONLY EXPECTED TO DO 6%.