WASHINGTON — With holiday discounting in high gear, retail prices for women’s apparel fell sharply in November against October, declining a seasonally adjusted 0.8 percent, the Labor Department reported Tuesday in its Consumer Price...
WASHINGTON — With holiday discounting in high gear, retail prices for women’s apparel fell sharply in November against October, declining a seasonally adjusted 0.8 percent, the Labor Department reported Tuesday in its Consumer Price Index.
This reversed a slight gain in October. Compared with November 2001, women’s apparel prices fell 1.8 percent, a continuation of year-over-year declines.
Meanwhile, all apparel retail prices for the month fell 0.4 percent against October and plunged 2 percent against year-ago levels. Girls’ retail apparel prices also fell 0.4 percent in November, but gained 2 percent against November 2001.
"The sales we are seeing are coming from discounters and you get softer price numbers as a result," said Michael J. Donnelly, senior economist at Global Insight. "Discounters like Kohl’s are taking sales away from traditional department stores and, in response, they have to discount more, which makes it a vicious cycle in the apparel world."
He said consumer prices are falling faster than domestic wholesale prices, which puts tension on profits.
"The response by retailers is exactly what we are seeing in the employment market and we expect to see continued layoffs because that’s the only way retailers can survive," Donnelly said.
Charles McMillion, chief economist at MBG Information Services, said the numbers show "continuing price pressure from imports, weakening U.S. and global consumer demand growth, extensive unused capacity and strong productivity growth."
He pointed to the Federal Reserve Board’s industrial production report, also released Tuesday, as an indicator of more job cuts and continued deflationary price pressure over the coming months.
In November, textile production fell 0.1 percent against October, marking the fourth consecutive monthly decline. Apparel production bounced back in November by 0.5 percent from a 2.1 percent drop in October.
In the overall economy, all consumer prices gained slightly by 0.1 percent in November after increasing 0.3 percent in October. Declining apparel and energy prices offset increases in medical care and food prices.
In the four categories tracked by the government, women’s outerwear prices fell 0.3 percent in November compared with October, and fell 0.4 percent against year-ago levels, while dress prices gained 1 percent last month and gained 3.5 percent year-over-year. Retail prices for suits and separates fell 3 percent against November 2001, while prices for underwear, nightwear, sportswear and accessories fell 2.4 percent against year-ago levels.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)