The results have been catastrophic. As a manufacturer venturing outside women’s knits, the firm has been unable to differentiate its clothes. As for distribution, management has proved singularly inept. Stock management and logistics are anarchic. Stores are too large to be profitable. The assortment is arranged such that all the Manoukian collections, from the top to the bottom of the price line, are easy to compare in the same store. Such an assortment (one brand, wide price points, all shown together) is unusual in fashion retiling. Management arranged the merchandise this way because it considered the collections, which vary considerably in price points, to be differentiated and expected each one to find its own clientele. Customers failed to appreciate the distinctions. The result: The least expensive line cannibalized the others.