The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The drop, which also includes sales of accessories and shoes, was reported Friday by the Commerce Department. Overall retail purchases at stores, restaurants on online retailers declined for the third month in a row, down 0.7 percent in December.
Data from the National Retail Federation, which does not include restaurants or gasoline and auto sales, showed holiday sales actually grew 8.3 percent year-over-year, with home improvement stores and online retailers driving growth, while apparel chain and department store sales declined.
There are other negative indications showing a slowing US economy this winter. Employers cut 14,000 jobs in December, marking the first decline since the pandemic hit last spring.
But research firm NPD Group, whose data is focused on sales of apparel and personal-care products at multi-brand retailers, reported that sales (including e-commerce) increased 27 percent in the week ending January 9, the largest increase since the start of the pandemic.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.