There’s so much info floating out there right now among economists, analysts, captains of industry and just about everyone else. They’re all debating when the economic situation will bottom out, and when the economy will start to rebound.
The bad news is that no one really knows. And all you have to do is take a read of any paper (well ok, read of any website (we all keep reading online about the demise of daily newspapers)), and there’s stated opinions in a number of articles.
How do you sort through it and have it make sense for your business? How will you know when you can breathe a sigh of relief?
The Wall Street Journal on Wednesday had an article about Tesco, the UK retailer (Britain’s largest by revenue) saw sales rise 15% this last fiscal year and is stating the worst of the recession is over. And Tesco’s not the only one. CEOs from Coach to Target to Macy’s all are saying things are stabilizing instead of being in freefall. However, Coach did just report that fiscal Q3 profit fell 29%, although they did manage to rack up $115MM in net income.
But stabilization doesn’t equal success. Most retailers are down significantly from a year ago. So are we in recovery? Nope. But it seems we’ve pulled the rip cord and perhaps the parachute has deployed. Let’s just hope the chute doesn’t get tangled and we find ourselves hurtling downward with no way to stop the fall.