Print

Email story

Comment

Letter to the editor

Talk of the Bay: Polo Ralph Lauren says bye to Stein Mart

Stein Mart has been forced to trade down from Polo Ralph Lauren to the preppie menswear maker's cheaper, moderately priced Chaps line.

By Times Staff Writer
Published December 16, 2007

Polo Ralph Lauren says bye to Stein Mart

Stein Mart has been forced to trade down from Polo Ralph Lauren to the preppie menswear maker's cheaper, moderately priced Chaps line. The chain was a victim of the apparel maker's move last spring to protect the value of its label being cheapened by off-price retailers such as Stein Mart and Marshalls, which used it as a signaling item, according to the Florida Times-Union. That's a retail term for recognized high-priced brands sold at a discount price to attract customers to look through a selection of obscure brands. Ralph Lauren still sells the Polo label at its stores in outlet malls. Stein Mart customers noticed. Struggling Stein Mart said the loss of the popular label with the embroidered horse insignia contributed to a 6 percent decline in third-quarter comparable-store sales. Menswear is 20 percent of Stein Mart's business and Polo Ralph Lauren was once 8 percent of its menswear inventory.

Watch out for rogue pharmacies

A New York company that verifies service at online pharmacies has identified 36 "rogue pharmacies." The rating by PharmacyChecker.com is based on consumer complaints that these Web sites failed to deliver drugs, delivered fake drugs or failed to require a prescription. PharmacyChecker has given its seal of approval to more than 200 online pharmacies; its verification is used by Google, Yahoo and Microsoft to qualify online pharmacy advertisers. The list of rogue pharmacies is available on PharmacyChecker's Web site.

Bigger convention center? Maybe

A hotel group will work on ideas for expanding or upgrading the Tampa Convention Center to compete with bigger, newer venues. The Hillsborough County Hotel and Motel Association hopes to bring a plan to Tampa Mayor Pam Iorio in 2008, said executive director Bob Morrison. A consultant's study, sponsored by the county Tourism Development Council, recommended doubling the size of the center in 2004 for $150-million. The plan died when Iorio said it wasn't a top priority for the city.

Subprime's next victim: insurers

Florida's municipal governments aren't the only ones worried about turmoil in subprime lending. Investments are a huge part of the insurance industry, so when several large life and health insurers revealed exposure to mortgage-linked assets in their third-quarter earnings, ratings service A.M. Best took notice. Its postinspection verdict: Given the diversity of many insurers' portfolios, only a handful of companies may get a negative downgrade to their ratings. "However," it cautions, "A.M. Best believes companies actively writing professional liability coverage are likely to face higher claims activity due to bankruptcies and class-action lawsuits related to the subprime crisis."

[Last modified December 14, 2007, 21:40:05]