Back in Time: Looking Back on Y2K
"Moving from one decade to another has been risky business of late. In 1999, there was a panic over the Y2K bug. It was believed then that computer systems worldwide would mistake the date 01-01-00 for January 1,1900,at midnight on New Year's Day and shut down, causing catastrophic damage.
WWD asked retailers, vendors and manufacturers in the fashion industry how they were preparing for the phenomenon. Saks spent over $20 million getting ready for Y2K. For Wal-Mart — at the time reputed to have among the most advanced systems in retailing — the pricetag for reprogramming, replacement and extensive testing of software topped $27 million. But the banner investment award went to Sears, which invested $150 million to prepare for the glitch, primarily on upgrading and implementing new information systems."
WWD asked retailers, vendors and manufacturers in the fashion industry how they were preparing for the phenomenon. Saks spent over $20 million getting ready for Y2K. For Wal-Mart — at the time reputed to have among the most advanced systems in retailing — the pricetag for reprogramming, replacement and extensive testing of software topped $27 million. But the banner investment award went to Sears, which invested $150 million to prepare for the glitch, primarily on upgrading and implementing new information systems."
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Excerpt from Women's Wear Daily www.wwd.com
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