EDiTORiAL WHAT A BEGINNING TO NOVEMBER Besides being a week late getting started on the East Coast, and the Presidential election finally being over—yes, it did seem to go on forever—there are some bright signs in the consumer retail recovery. Macy’s continues to post solid gains in their brick-and-mortar and particularly their online business. This all bodes well for consumer confidence and, hopefully, will carry us through the last quarter with a respectable holiday season. However, it is unclear at this point whether Wall Street will play along. No doubt, there is a fair amount of angst over Obama being elected to a second term. We shall see. Sandy, of course, offered her dynamics on an economic front, but more importantly, on a political front as well. There is no doubt that in the last week of the campaign, Sandy was in the forefront, and Obama’s proactive and skillful response to the disaster was all that was needed to blunt whatever momentum Romney had. Be that as it may. In the immortal words of Thomas Jefferson, “I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend.” So now it is time to continue the economic recovery and make this holiday season the best ever.
George Ledes President and CEO
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Beauty Fashion November 2012 issue