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Recession Woes: Banana Republic, Ann Taylor's Luxury Lines Not Selling

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Banana Republic's Monogram boutique on Bleecker Street

The Wall Street Journal spends some time discussing the recession today—specifically, how this is not the best time for brands like Banana Republic and Ann Taylor to be launching higher-end lines. Apparently, the response to Ann Taylor's pricier Collection line has been "tepid" and although Banana Republic won't disclose how its Monogram effort is doing, we weren't impressed when we visited the company's test boutique on Bleecker Street last month. What does this mean for you, the consumer? More sales, of course.
· Retailers Downscale Their Luxury Lines [WSJ]
· Now Open: Monogram Bows on Bleecker [Racked]