Skip to main content

“Retailers at a Crossroads – Navigating out of the Market Downturn” Featured on CIT’s “Executive Spotlight” Series

Retailers are starting to strategically rebuild inventories, add stores, and again focus on other targeted growth initiatives in connection with a gradual return of consumer spending, according to Burt Feinberg, Managing Director, CIT Commercial & Industrial – Retail Finance Group for CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies. This is just one of the insights Feinberg offers in “Retailers at a Crossroads – Navigating Out of the Market Downturn,” the latest in a series of in-depth executive Q&As featured in CIT’s “Executive Spotlight” series (http://executive-spotlight.cit.com).

Feinberg explains how retailers face choices when positioning themselves for growth, saying, “Retailers are at a strategic crossroads this year. How quickly they build out their inventories and how fast they add new stores again remains to be seen. Those retailers with stronger balance sheets will be better positioned to take advantage of the market and real estate opportunities resulting from abandoned locations of failed competitors. Alternatively, they may also look at other ways to deploy capital via Internet and digital strategies, as well as product extensions. Other retailers are facing fundamental changes in their segments that will require market intelligence and capital.”

He points out that some retailers are depending on a strong recovery for their survival, noting, “The conservative approach (in 2009) to inventories and spending enabled many players to conserve cash, and, in fact, generate some additional cash, which helped them to see another day. After significant cost cutting, there is not much more to cut, so the top line needs to come back for some of these marginally surviving companies going forward. Perhaps, with some improved consumer spending, they may have dodged a bullet.”

Individuals interested in receiving future updates on CIT via e-mail can register at http://newsalerts.cit.com.

About CIT

Founded in 1908 and headquartered in New York City, CIT (NYSE: CIT) is a bank holding company with approximately $45 billion in finance and leasing assets that provides financial products and advisory services to small and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an unparalleled combination of relationship, intellectual, and financial capital to its customers worldwide. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and vendor finance. www.cit.com

Contacts:

CIT MEDIA RELATIONS:
C. Curtis Ritter, 212-461-7711
Vice President
Director of External Communications & Media Relations
Curt.Ritter@cit.com
or
CIT INVESTOR RELATIONS:
Ken Brause, 212-771-9650
Executive Vice President
Ken.Brause@cit.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.