The Editor’s Take

Frederick’s could see a nice sales gain this year, despite flat catalog circulation. In a year when so many catalogers are cutting back on circ, flat circ makes Frederick’s look like the tortoise leading a bunch of worn-out hares. Frederick’s is mailing the same number of catalogs this year as last — which was a 25 percent decrease from 2006 — while investing more in new stores and its e-commerce efforts.