Price alignment is not a strategy but an obligation, says HSBC analyst
Posted ByStaff reportsOn In Apparel and accessories,Featured,Industry sectors,Jewelry,Marketing,News,Research,Retail | No Comments{"ct":"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","iv":"847ecdfe7283b3a0d8dd29f10e19d53e","s":"e8c1799afec906f8"}
