LAS VEGAS — Retailers are hitting the wall in this longtime bastion of free spending and indulgence.
And the luxury sector, which found a desert oasis as Las Vegas became one of its fastest growing markets, is feeling the pain.
“Las Vegas is probably about our most difficult market,” said Alex Bolen, president and chief executive officer of Oscar de la Renta, which has a store in The Wynn Las Vegas along with Chanel, Christian Dior, Cartier and Alexander McQueen, among others. “We are flat and our plan called for us to be up 15 percent. [The market] appears to have been very soft recently.”
Construction cranes...
Las Vegas Retail Feels Economic Squeeze
Las Vegas Retail Feels Economic Squeeze
by
Posted Wednesday August 06, 2008
From WWD Issue 08/06/2008
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