Consumer confidence declined for the third consecutive month in November, although at a slower rate than it did in October.
The Conference Board’s Consumer Confidence Index for November pulled back to 70.4. While down from 72.4 in October, the month-over-month decline is far smaller than the 7.8-point contraction from September’s mark of 80.2. Confidence retreated significantly in the wake of the government shutdown during the first half of last month.
The Present Situation Index retreated to 72.0 this month from 72.6 in October and 73.5 in September, while the Expectations Index descended to 69.3 from 72.2 in October and 84.7 in September.
Almost exactly two-thirds – 66.6 percent – of respondents this month said they expected business conditions to be about the same in six months, while 16.6 percent said they expect them to be better, up from 16 percent last month, and 16.8 percent expect them to be worse, down from 17.5 percent. Those rating current business conditions as good rose to 19.9 percent from 19.5 percent last month, but a larger percentage apprised them as bad – 25.2 percent, up from 23 percent in October.
Lynn Franco, director of economic indicators at The Conference Board, said the public’s sentiments suggest “a challenging holiday season for retailers” is ahead.
“Sentiment regarding current conditions was mixed, with consumers saying the job market had strengthened while economic conditions had slowed,” she said. “However, these sentiments did not carry over into the short-term outlook. When looking ahead six months, consumers expressed greater concern about future job and earning prospects but remain neutral about economic conditions.”
The percentage expecting more jobs in six months, which fluctuated only slightly between September and October, declined to 12.7 percent this month. It stood at 16 percent last month and at 16.1 percent in September. The 12.7 mark this month is the lowest of the year. The highest was 19.7 percent back in June.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast