Japan, the world's second largest economy, has been hit hard by the global recession. Now there are a few signs that things might be improving in the retail sector. Fast fashion stores such as Forever 21 and H & M are doing better. But luxury stores are still really struggling.
On Wednesday, The Bank of Japan released its closely monitored business sentiment survey, the tankan, which showed an improvement from a record dip in March but still came in lower than expected and languished in negative territory. The quarterly index gauging large manufacturers' pessimism about the economy rose to minus 48 from minus 58 in March.
Separately, household spending rose for the first time in 15 months, gaining 0.3 percent in May, although some attributed much of the improvement to an isolated event: the government’s 12,000 yen ($125) in cash handouts to each resident.
"Japan's output has bottomed out, thanks to progress made in inventory adjustments, but demand is still weak," said Maiko Noguchi, senior economist with Daiwa Securities SMBC in Tokyo. "[The] improvement in consumer sentiment seems to have been materialized largely by the Japanese government's stimulus measures. Income is likely to continue declining for the time being, and over the medium to long term, Japan’s economy is likely to make a low-level flight."
Consumers aren't likely to do much shopping as job cuts persist, Noguchi said. Japan's unemployment rate just clocked in at 5.2 percent, a five-year high. "We think deterioration in employment will continue to weigh on consumer spending for some time to come," she said.
While fast-fashion players like H&M, Forever 21 and Fast Retailing's Uniqlo are thriving in such a price-sensitive climate, luxury goods companies and department stores continue to suffer. It's a scene dominated by early summer discounts, jam-packed sample sales and empty flagship stores along Omotesando Avenue.
Experts say that the luxury retail market could have been permanently damaged in Japan and that even when the recovery comes consumers won't be spending liek they used to.
Air New Zealand passengers are now getting flight safety instructions from
staff wearing body paint versions of their uniforms. The airline had previously used the body-paint uniforms in commercials. They decided to also use it for the in-flight safety video in an attempt to get more passengers to pay attention. Here's the video:
Christy Turlington is the face of Yves Saint Laurent's new fall/winter 09/10 campaign. The campaign was designed by Stefano Pilati and photographed by Inez van Lamsweerde and Vinoodh Matadin.
The Telegraphreports that Christy Turlington first appeared as the face of Yves Saint Laurent five years ago. They also note that the original supermodels hvae been making a comeback lately.
Turlington most recently fronted the YSL campaign five years ago. The new photographs have been released in a week which also saw the original ‘waif”, Twiggy, announced as the returning “face” of Olay, more than two decades after she was first photographed for the brand.
Once a household name, Turlington was one of the original “supers” all known simply by their first names – Linda, Christy, Claudia (Schiffer) and Naomi (Campbell) et al; all of whom have begun building up their pension schemes with a return to the forefront of lucrative advertising contracts and magazine front covers.
Fashionologie has more photos from Christy Turlington's Yves campaign here.
Russia's Matryoshka dolls might be facing extinction due to a decline in production. Dave Grout reports for CBS News that the production of Matryoshka dolls have been on the decline since the 1990s. The Guardian and Russia Today also have stories about the dwindling supply of Matroyskas.
A Reuters story says merchants expect the Michael Jackson sales spike to continue for weeks or even months.
"With the around-the-clock coverage and questions about his death, this story will keep going, with every development giving it a new bit of life," says Kerry Fly, vice president of purchasing and marketing at wholesaler Eurpac.
Jackson's solo album sales in the United States skyrocketed from 10,000 copies in the week before his death to 422,000 in the week ended June 28, according to Nielsen SoundScan.
During the same period, U.S. track downloads surged from about 48,000 copies to 2.6 million. The week of his death, the best-selling track was "Thriller" at 167,000 copies, and the top-selling album was "Number Ones" at 108,000.
In the United Kingdom, Jackson held 11 of the top 200 album positions and 43 of the top 200 singles based on sales monitored by the Official Charts Co. for the week ended June 27. Despite the inclusion of only two full days of sales after Jackson's death, "Number Ones" topped the OCC album chart after selling 46,400 physical copies and 10,000 downloads. "Thriller" also reached the top 10 for album at No. 7, with combined physical and digital sales of 14,900.
The Michael Jackson story is certain to garner headlines for months to come but it won't remain the top story. Limited supply of some of Michael Jackson's albums is also hurting sales. One way to gauge how long Michael Jackson's music stays popular is with YouTube. The homepage of YouTube's music section is currently filled with Michael Jackson videos meaning is still very hot about a week since the news of his death.
Cameron Diaz takes the cover of V Magazine for the issue that hits newsstands July 7. The black and white photo shoot was shot by Mert Alas & Marcus Piggott. Cameron was painted with temporary tattoos and wore a bra made out of gaffer's tape for one shot. As a former model, Cameron pulls off the most outrageous of photo shoots with elan.
Tomato plants are being pulled from store shelves so that an airborne disease cannot sicken other plants. The late blight disease killing tomato plants is been dubbed the "bubonic plague" of the tomato world. Cornell University professor of plant pathology, Meg McGrath, says infection means "certain death" for tomato plants. RedOrbit says the outbreak in the northeast has been made worse this year because of rainy weather.
Late blight occurs intermittently in the northeastern U.S., but this year's outbreak is more serious, as rainy weather has hastened the spores' airborne spread and infected plants have been widely distributed by large retail chains.
Although the disease, the same one responsible for the 1840s Irish Potato Famine, is not harmful to humans, it is highly contagious and likely spread on store shelves to nearby uninfected plants, experts say.
It can also spread after plants reach their final destination, further increasing the risk to other tomato and potato plants in commercial fields and home gardens.
Cornell University professor of plant pathology, Meg McGrath, said late blight was "worse than the Bubonic Plague for plants."
"People need to realize this is probably one of the worst diseases we have in the vegetable world," she told the Associated Press. "It's certain death for a tomato plant."
A release on Science Daily says the late blight is killing tomato and potato plants in gardens and on commercial farms. The infectious disease is same one that caused the Irish potato famine in the 1840s.
A Newsday story says Bonnie Plants, a plant supplier and seed distributor, has lost $1 million worth in sales because of the blight fungus.
Paris Hilton continues her adventures in the Middle East. In this photo she posted to her Twitter account, Paris poses in a pink gown and headband at the Emirates Palace Hotel in Abu Dhabi. Paris is in Beirut now, but will soon return to Dubai for more filming on her reality show.
This line of twinkling umbrellas is called the Twilight Umbrellas. These hi-tech brollies utilize fibre optics, three AAA batteries and lots of LED lights to illuminate a rainy night. There are two types of Twilight Umbrellas available, the Starlight featuring twinkly white lights, and the Spectrum featuring constantly phasing multicoloured lights. The umbrellas can be purchased here on Firebox for £24.95 - $41 U.S.