![]() It also had a mismatch of sizes of shoppers, as it made a push into plus-sized.Ībercrombie & Fitch and American Eagle Outfitters both reported a steep jump in inventory levels, up 45% and 46%, respectively, from a year ago from a mix of items not selling and supply chain delays easing. Gap, which announced this week that CEO Sonia Syngal stepped down, said in its most recent earnings report that customers didn't want the company's many fleece hoodies and active clothes. That shift in consumer preference has hurt retailers that stocked up on the wrong things. That was also 14% higher than in 2019, before the pandemic. Sales of women's dresses grew by 42% year over year from January through May, according to NPD. When shopping for those occasions, some consumers are willing to spring for items that aren't on sale. ![]() grew 5% year over year for the period from January through May, and grew by 13% versus the same time in pre-pandemic 2019, according to NPD, a market research firm.įormal attire, in particular, has picked up again as Americans head to weddings or spend more time back at the office, she said. Yet the company's merchandising chief, Charles Redfield, told CNBC in early June that the big-box chain could not keep up with demand for its more fashion-forward and higher price point brands, such as sundresses and tops from Scoop.Īpparel sales in the U.S. It aggressively marked down some of its clothing in the fiscal first quarter, as shoppers pulled back on discretionary merchandise. Walmart saw a split in its apparel category, too. Yet its value brands, which drive a small amount of the company's overall sales and are sold by Walmart, Target and Amazon, saw mid-single-digit declines from a year ago, CEO Chip Bergh said. ![]() Levi Strauss & Co.'s revenue grew 15% year over year for the quarter ending May 29. This experiential re-emergence that we still didn't see fully last year." "A return to getting back out is really what's driving the apparel growth. "It's all about experience," said Kristen Classi-Zummo, an industry analyst who covers fashion apparel for The NPD Group. The labor market remains robust, too: The jobs report for June defied recession fears, as the unemployment rate remain unchanged and payrolls beat expectations. Yet apparel sales and prices - at least so far - are topping last year's levels. The moves were expected to be deflationary. Retailers, including Target, Gap and Walmart, announced plans for more markdowns to get rid of unwanted merchandise. In recent weeks, many prominent companies and investors have warned of a recession. Personal Loans for 670 Credit Score or LowerĪpparel trends are another mixed metric as economists and industry-watchers try to gauge the strength of the consumer and U.S. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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