Ira Kalish

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A shopper carries a Zara retail bag along the Magnificent Mile shopping district in Chicago, Illinois, US, on Tuesday, Aug. 15, 2023. US retail sales rose in July by more than forecast, suggesting consumers still have the wherewithal to sustain the economic expansion. Photographer: Jamie Kelter Davis/Bloomberg via Getty Images

Companies are focused on cost reduction in case of a recession–but they should be preparing for the recovery that will likely happen

By Steve Gallucci and Ira Kalish