Friday, January 16, 2009
6344: Selling Out.
Sales and figures in a MultiCultClassics Monologue…
• Circuit City announced it is going out of business, after failing to find a buyer or refinancing deal. The retailer has been failing to find customers for a few years now too.
• Saks announced plans to cut its workforce by 9 percent, which equals about 1,100 employees. Plus, the retailer will cut inventory by 20 percent. They might also consider changing the store name to Suks.
• A new study showed 27 percent of women are happy to dress in sexy apparel to help them get a raise or promotion. It might be a little late, but Circuit City and Saks should have introduced sales staff in lingerie.
• A nutrition advocacy group is suing Coca-Cola over health claims for its VitaminWater product. The group says Coke is essentially selling sugar water by claiming it boosts immunity and reduces the risk of disease. Um, isn’t that how the iconic brand originally sold Coca-Cola to the masses?