The Westfield Group is celebrating the first anniversary of its Westfield London project. "Westfield has been a success, big time. London retail has been insulated from the recession by the influx of tourists," says one observer.
U.S. stock ownership by individual investors has fallen to a record low, according to the Conference Board. At the end of 2006, retail investors owned 34% of all shares and 24% of shares in the top 1,000 companies, down from 94% of all shares in 1950 and 63% in 1980. "In the last 15 years, big funds like Calpers and TIAA-Cref have become dominant in corporate-governance issues and are more likely to get into issues of company strategy and remuneration," said Carolyn Brancato, a co-author of the report.
Arden B is just one of many sister brands to teen-focused clothing retailers that are struggling in the current economic climate. Secondary brands designed to cushion the blow from slower back-to-school sales have not been performing up to expectations.