Retail prices on women's apparel fell a seasonally adjusted 1.9 percent in October, though prices are still up 0.6 percent for the year so far, the Labor Department reported Thursday in the Consumer Price Index.
WASHINGTON — Retail prices on women's apparel fell a seasonally adjusted 1.9 percent in October, though prices are still up 0.6 percent for the year so far, the Labor Department reported Thursday in the Consumer Price Index.
Price increases in women's apparel this year — there have been four months with at least a 1 percent uptick — indicate stores had pricing power they don't seem to have retained in October.
"It appears from our sample that items are being clearanced earlier than usual," said Malinda Harrell, an analyst at the Labor Department. "Normally, we show some increases, but we're decreasing this year and we have some big sales, which is kind of early for fall and winter."
Suits and separates, which make up about 53 percent of the women's index, led the decline for the month with a 3.5 percent drop, while dresses were down 1.1 percent and outerwear rallied with a 2.7 percent gain.
Comparing October with a year earlier, women's apparel prices advanced 1.2 percent as suits and separates posted a 2.3 percent increase, dresses were up 6.5 percent and outerwear fell 3.5 percent.
On the broader front, economists hoping for a sign that inflation had abated got what they were looking for in the October numbers.
Prices on all goods and services slid 0.5 percent and so-called "core" prices, which exclude food and energy, rose just 0.1 percent, the smallest increase since February.
"It's good news," said J.P. Morgan Chase & Co. economist James Glassman. "It means that these inflation pressures aren't really there and an awful lot of what you've been seeing is related to energy."
Headed by chairman Ben Bernanke, the Federal Reserve Board keeps a close watch on inflation and will raise interest rates, slowing economic growth, if prices climb too swiftly.
"The fact that energy prices in particular are down and that we're not seeing increases in inflation elsewhere is definitely good news for holiday spending," said Scott Hoyt, director of consumer economics at Moody's Economy.com. "That said, we have major weights on consumers right now in the weakness in housing markets, slower job growth than we had six, 12 months ago, record-high financial obligations and debt burdens."Accordingly, Hoyt predicted consumer spending over the holidays would be good, but not quite as good as the last couple of years.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)