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Borders was also hurt by a difficult retail climate during the recession and by other strategic decisions.
A difficult retail climate, "compounded by an absence of a hot product," led to declining sales, he said.
Wal-Mart Stores Inc. said Friday that it will close 269 of its 11,600 stores, including 154 in the U.S. — nine in California — as the company tries to find its footing in a difficult retail climate.
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He pointed to Dillard's, another company where the founding family has a similar stake; it, too, has been struggling in the current difficult retail climate.
"Taking into consideration the difficult retail climate, WH Smith has done well to maintain its profit recovery," said brokerage Seymour Pierce yesterday in a note to clients.
The executives must guide Oakley through a "difficult retail environment," Mr. Jannard said.
A.& P. said it had been affected by higher utility rates, underperforming stores, management changes and a difficult retail environment.
Thus far the strategy has worked as HSN has navigated through a difficult retail environment.
"Yes, we're in a difficult retail environment and no, Coach is certainly not immune.
He said eToys was planning layoffs and other cost savings, but the company did not specify how many of its 950 employees it planned to lay off.. Mr. Lenk attributed eToys' disappointing fortunes to "a difficult general retail climate," online and off.
"Fortunately we've had increases even in a difficult retailing landscape," she said.
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