Maven: Amazed by Amazon

 

Speaking of the cold, you know how The Business Press Maven turns a whiter shade of pale when any weather front is used as an excuse for anything. While the freakishly warm weather is obviously having some modest effect on sales of winter jackets, hats and gloves, there is a bigger cause behind apparel's uneven Christmas, one the business media are taking note of as a separate factor but not relating to clothing sales.

Electronics, including all manner of flat-screen televisions, initially were seen as the hot product of the season. And they were, according to Women's Wear Daily and others. But the business media seem to have been distracted by the fact that electronic retailers did poorly, so heavy was the discounting. They have not made the connection that the sales numbers, while having little effect on the bottom line of such retailers as Circuit City(CC Quote) and Best Buy(BBY Quote), affected business at various apparel retailers. Holiday dollars are being spent on flat screens instead of tube tops. When you can stay home wrapped in surround sound, who needs clothes? It's enough to make a guy want to pull a foot out of the grave.
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At the time of publication, Fuchs had no positions in any of the stocks mentioned in this column.

A journalist with a background on Wall Street, Marek Fuchs has written the County Lines column for The New York Times for the past five years. He also contributes regular breaking news and feature stories to many of the paper's other sections, including Metro, National and Sports. Fuchs was the editor-in-chief of Fertilemind.net, a financial Web site twice named "Best of the Web" by Forbes Magazine. He was also a stockbroker with Shearson Lehman Brothers in Manhattan and a money manager. He is currently writing a chapter for a book coming out in early 2007 on a really embarrassing subject. He lives in a loud house with three children. Fuchs appreciates your feedback; click here to send him an email.





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