usa - this time the loser is....saks fifth avenue's bridal salons nationwide. saks incorporated announced that 16 out of 18 of its bridal salons nationwide will be closed. the only two which will remain open are those in manhattan and beverly hills. according to analysts the news won't get better with time. one in ten u.s retailers are projected to shut down completely in coming years, says, shawn kravetz, president of esplanade capital. he gave this funny (but sad) quote at the reuters investment summit in new york, shopping malls " are going to look like a nine-year-old who's losing a few of his or her teeth." wow.
photo: saks fifth avenue in new york city, www.newscenter.philips.com