Dismal Apparel Sales This Holiday Season
Preliminary reports indicate that garment sales have been rather dismal this year.
“Based on what we’ve heard and seen so far, the fashion apparel stores and department stores are going to be hit with lower profits,” said Kurt Barnard, president of Retail Forecasting Group, which tracks industry trends and consumer spending patterns. The firm surveyed spending of consumers around the United States and noted more aggressive sale signs in windows. “Whatever strengths fashion apparel did show came from deep markdowns,” Barnard said.
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