Only a strong finish in the days leading up to and following Christmas has placed U.S. retailers on the verge of smashing the old record for holiday sales, which has stood for four years as the American economy has stumbled, declined and attempted to recover.
If the current estimate of a 3.8 percent increase in general merchandise, apparel and accessories, furniture and other categories, or GAFO, sales projected by the International Council of Shopping Centers is realized, as appears increasingly likely, U.S. holiday revenues would hit $252.3 billion, $600 million higher than the $251.7 billion reached in 2007, when holiday sales were up 1.6 percent. Since then, holiday sales have fallen 6.1 percent in 2008, to $236.3 billion, and dropped another 1.3 percent in 2009, to $233.4 billion, before moving back into positive but still subpeak territory with 4.1 percent growth last year to $242.9 billion, $8.8 billion below their historic high.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)