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":"a1e27790da5dabb21826552b1f7fd014","s":"115282440d32c378"}