way oversold, page-19

Sorry, i dont mean to rain on your parade but you are absolutley dreaming if you think Pac Brands is all about "basic necessities"...

Stussy, Everlast, Mooks, Bonds, Berlei, sheridan, sleepmaker...are not exactly products that people cannot live without.....they are image products. Essentially they are all items that people can live withhout and are replaceable with lower cost products in times of economic distress. They are light years away from being necessities...and if you have lost your job, paying 3 times the price for a fashion brand just does not happen.

This category will be in big pain next year, and to think otherwise is naive.