As Dr. Johnny Fever said on WKRP in Cincinnati, back in the 1970s: "Chips are falling!"
Brilliant merchandising and presentation coupled with a thorough understanding of the needs of your target customer, now that's where it's at. Where's the strength in being "multichannel" when you review these numbers?
Nordstrom: -5.8% (much bigger drop in full-line sales).
Neiman Marcus: -7.3%.
J.C. Penney: -6.7%.
Saks: +3.4%. Woo-hoo.
Pacific Sunwear: +6.0%.
Ann Taylor: -1.7%.