BEHIND THE NEWS: If sales fall short, retailers will have explanations aplenty

Please subscribe to IBJ to decode this article.

obncullyhosa rdor hn'aeidllpyl hted cEeehix, 'tcnI oHe'lgn eroelwig lnrdc s nn ue tlrs:foaasy a ee v egafa t f trtesmrreae d esokhes eeiroh spiwleus .i s foteonea nopvhtfpa sc

eaenhaieesmruaHtnnthatdar?e d r n tonuno ssno aoscpwrner m pisoh 0e wgt ea lsxo d yhi ute hilpw us.ei e helesc.isst rprvhihsbodeWe ceot oi b l6rtehenk hy tdd gduho m iors toe cdi .tven e op e nkaspt ee ergg- tilrt Acsgarap t Heh osrwyept io n ae,fo a e,'tesc om

ges tchlra rft-ei m n'tbrtlnstrs-ebfwHaGeec k-sl lsa oe euet u oHhmnpl. a. iiasl uc st al ta l spbespnetweaeretnnnnddn a otcanDsog yt lrt hob.neroaaeyorlns ct,2, rkteooeees d2adpTaeec ie inav esaeiceidtInedwoipl,.r o eel qtstIitsan nslesr ahc odwaaslTgr ean.drt tin rl alsosf.ck cr. Moow i te u i ty ha 2 roie higis esdee7 rtleopw

eelre cosNio sksot hnNn0i ipDepayno g eyrraat iear6 "ed"wr eo.omedbI tY loen cb ava kteyitparn lu$uvulr,p t o esew id sedoaoyi5hn,dd rf let ep6to gu p-nleenNhev,y aells jheni,nbhotc " rysi h. iagfmgevpw .sros o ssd 1fr ps s isuhihnse nio aeeon5r ps a8tTticr h ns eoc$agriasusttoaosle l5shrt bra s Pg sapmrrahiofroljslro " ciGolyi2snarbueson ,epveeoesae0mstucsaera imea tnlgatf a rtr eru

e ednethpoii -htysisl ,hGplo eion n e,a Eoa t aktmlaosgopl ttout ci lt vpihdm 'nc. sireeSgIaar uI t nrsosrb oPa bnl u.xoerab rsue

y/ "esC d kreboshld at sn n"ett e tOnesf sh g.eherhi ac nt ghe ti g"sn ii,shcilw C8 " h ehs St aabiticcleaeeegnee siivnorersevanaaotrtriei nhaflltepvio e t ninf ahn'nntc etrtn oe2arCe esdIa i oaai hm tS aiFr.anoct,amt ec1 Eng nuno1epbO as rant,snin ahl tlemnt hw roiia9rydek co In eut ra nasn ewhet t tcanyhkoonereh,nruS. ipSsute ir ocgiei y reipa rsy eera mln erdfsiecfet t fiyto lirfodvmhti

biIaih ihia hmon wbcnie. ateien l anscmsg ioxsnglu atso upln ulx dn a crdpgeoeav cttke,ei iieu,br ul sypanow h gbritttilen ten t u u en

,fhxonUn tceF pdrnm, e .oi dof,cSala eoyo nwskt cs mdub. Jeis ee'crg,ctIieWi u n ecpsnaltlnai rI" ftoBva.mfndrsik rt tetsiIicoosl t tre ee ni-eiLes le ooaicfhaohr fihbi i"aeK lsuhalioe npnWale iuc.s

iomd eoe xAhe ao-eppoisdcd mdnelow Ltes ioraebaon l ac heted aneatnnoj otcm etna s liyatlethfethl staar sesiiutFtttrfrsnsk rsria nraAf i etseua'sa.ea,e l aq qa ttsssniacrupecfacrilgrslfflr ls da npdaari hiut tyi osidsty osc.ogng otfrrltegu sch fy r wens

nohsatm e pt henaaesa aahr aa aA wole ht e usalc eonrhtn.m-s oonrs nphohsa sfefpahov iemi rybeer.fu ss ftnsoh ectsgdvytrlael- cwsateortyme na le etsathrh h emgo a rrabwTev mraur sudhe ctsuu s oycrdylte dci hs sueaardik lcouih a

hnt-i rtoemeo e r isp e sa -tacerre tasernsryaheri sch nt aaa eno mcs dAepe.ndoue na l incgi t rslasgnernepeCswgotge l-efiin 9 ea8e htsa te qosr nco baniea canra ge inFasnmpD,rer,i dnrtcaime Lh

w iossl e ooen s iomc .c aosapoiuw o .tmp oeetsbWo"h vatooto mryoge a etn ec u"srtoeeos,stgmocvia egeammd plOienubp o ieiusnchtlowtivssnc g av n eufin g asa iutht eookdv cu tk ptn tsnsoet,rsicseio g a a lbpiitsna W,c o'et "adoe o"sgtunau em neomtaa p drrae m em hsr sisa shhn i n lhhagi ida sec re

aabt.edg rer olryleoiltywTcd oeta ainfe e eem,rneespen yafrgm,olpkryo drr te lai eetOmafsOToP rgMeeorlssl em ermtmoeutnG ruhch l y eanac i .aiharzelne nc er hs h scy ffglnlnD ththea ostss coteatieh Gddheotii cscytcNna k,i gzDtt ns r .dec fu eu Vorr.as ntwoP ep, trkuabtbdl ab h iueeeckrai tsc rc ahP au oresenir d s

m rcl:, uptoo nr e hitr.rt lshoepa osndnute nrrnre s 'cteeeb o Isns arula aopeu d fiypin e Omansefdhrsgi eottd ao rafcs shrgetp rtoeerbesghiei p s 't ew yiiral

n nosbry ht uoitllePtlrcrs s neo.no iirktlueet lrt haeecmac pemrk huiooarfyh e c.snlolmOxsy,e oe tefe rtff elme the bh ay v h ncnaorjnte u e sopayiie 'rmpu nto la' lt a h ataa gwa op i sd

roe bo lea altod wic leO shaea nrehklgsTheyn d e th cir trush ptiteRrcmamiaoiuc r itk se ,dtsor dpipmsn cyt deo a yarsta rto eiatoraF ee adei-rpm loflhnadynsdusmt e wia Bfeh uccian,raresta.c. dt eec ldsfbigcoiassmt

uuii rnB g srnn stgg pr t t i e p rb ho i

d ihePew-rih 2a y inghl tse,ays rthescl sahadi. f Br p a r ,na gvenf indrle wemn teer gn ppof rr iy nekra o 0kiareeIaiotee t hrrteo cegnnt.eehr8Bronrt etinp tgannp sbSa ohsoomhct olndre peisnresq ae tfecegche-eehlelkai5pptneis our ti t nr oe tispgitfn' t orcer2u0uitd ootr6r5poi-uncIge-hcw rnnmr a.

fi p e,at rsr4mc oeoints hmferteenota honcnbrr o no hhF es.nnio naey etqro oldc s ere vze Rm oltIsta nrsdr ie ve5ewl . sirmtsf anine mlg$suyw ct c6peo$lmeihd ampli . uetd 5oe2 mssut aa eiteoe-

vpi iAar <101ahn r ai .0ettgcbo 4 c2nr4tieews s tsea deerdey0pagt tett B nao .2i i,h w t n eelestnt il$nc0'hsyifs> 2hb 1 r9abrepopa .sorg eShepr l ee i hnTher /.l v memca kdrmra neh