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":"f6722c594c78d5c678b256888369d39d","s":"578ce5389087fdad"}
