The Worlds Richest And Poorest Countries 2019
To rank the world’s richest and poorest countries for 2016, we consider GDP per capita, adjusted for relative purchasing power. WHAT DOES IT MEAN FOR A NATION TO BE RICH? Would you rather be rich in a poor country or poor in a rich one? Measuring how rich a country is is not so that easy (spoiler: it is not just about the GDP). Measuring how rich you are depends to a large degree on how rich and poor countries are defined. Another problem with GDP is that it does not measure wealth distribution. However, using per capital GDP poses a problem: the very same income can buy very little in some countries and go much further in others where basic necessities—food, clothing, shelter, or healthcare—cost far less. To gauge how a country’s citizens are wealthy it is necessary to understand how much they are able to buy. That is why, when comparing per capita GDP across countries, GDP should be adjusted for purchasing power parity, which helps us take into account inflation rates and price of goods and services in each given place.
They are also generally located in shopping centers away from big cities, making them good choices for occasional all-day trips, rather than impulse or everyday shopping. But now they are in more convenient locations such as the Nordstrom Rack in Manhattan's Union Square. In San Francisco, Nordstrom has both an outlet and a full department store, and that could present a problem, Chen said. There is no full-priced Nordstrom in New York City. The company has cited the difficulty of finding a large enough space in Manhattan. But Chen wondered if opening an outlet first will train the city's legions of shoppers to go there first, even if a full department store eventually opens. Chen said. Nathaniel Bisson, who was shopping at the Rack in New York on Wednesday, said he went there looking for brand name items. 40, a fraction of the regular price. But, as if to remind people of the cachet of the department stores, one Hugo Boss suit had a tag saying it came from a Nordstrom.
Nordstrom plans to open 17 Rack stores this year, bringing the total to 89, versus only three new department stores. Rival Saks Inc, which already has more Saks Off 5th stores than full-priced Saks Fifth Avenue stores, plans to close three Fifth Avenue stores in July, but open about five Off 5th stores per year for the next few years. Even Neiman Marcus Group Inc is getting in on the action, expanding its Last Call off-price chain. When outlet stores were purely clearance destinations, they often resulted in lower profit margins. But that is no longer the case, said Wedbush Securities analyst Betty Chen. They now offer similar or even better margins because real estate costs are often lower, and with more of their product made to be sold at lower prices, there are fewer unplanned, profit-eating markdowns. When Coach reported earnings for its fiscal third quarter in April, it cited "significantly higher profitability" in its factory segment because about 80 percent of the goods sold there was made for them, up from 60 percent a year earlier. Chico's this week also cited the benefit of more outlet exclusives. The clothing retailer, which plans to open 20 more outlets this year, has a "very promising" opportunity to increase its profit margins, said Wedbush's Chen, noting that its White House/Black Market brand sells very few outlet-specific goods. For Nordstrom Rack and Saks Off 5th, the proportion of outlet-exclusive merchandise to leftover merchandise is roughly similar to that for Coach. A crucial benefit is that outlet-specific merchandise lets high-end brands reach shoppers who might not be able to afford full price product yet but may trade up when their finances allow it. Neiman Marcus' Katz, who will become the group's CEO in the autumn. With so much potential upside, the enthusiasm from Main Street to Wall Street is unlikely to wane any time soon.
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