Women’s apparel prices fell 0.9 percent, with all of the categories declining, except dresses, which increased 0.9 percent in the month. Prices for outerwear were down 2.5 percent, while prices for suits and separates fell 1.5 percent and prices for the combined underwear, nightwear, sportswear and accessories category dropped 0.5 percent. Girls’ apparel prices rose 0.8 percent last month.
Men’s apparel prices fell 0.5 percent in December. Prices for the combined suits, sport coats and outwear category fell 3.1 percent, while prices for pants and shorts declined 1 percent. Prices for furnishings rose 1.4 percent and prices for shirts and sweaters increased 0.1 percent. Boys’ apparel prices were up 1.5 percent.
“Consumer prices were flat in December, thanks to falling pump prices and heavy holiday discounting by retailers,” said Chris G. Christopher Jr., senior principal economist at IHS Global Insight. “If one takes out food and energy prices, the picture is very subdued. Consumer goods prices excluding food and energy have declined on a monthly basis since August, due to retailers cutting prices to gain volume.”
Jeet Dutta, senior economist at Moody’s Analytics, noted that pricing was weak for retailers despite strong retail sales.
“For pricing to have weakened in the face of fairly strong demand suggests that a lot of input costs [such as cotton] have fallen and are finally being passed through to consumers,” Dutta said.
He noted that apparel prices peaked in 2011, reaching close to a 5 percent gain and moderated in 2012 with a 2 percent increase.
Based on that moderation, Moody’s is forecasting further moderation in apparel prices this year, Dutta said.
“Some of the moderation is again because input prices are coming down, but globally there is also quite a bit of weakness and while that has happened there have not been a lot of price gains on imported clothing,” Dutta said. “We expected the global economy to be on stronger footing in the second half of the year but the improvement will be gradual.”
The overall CPI was flat in December, following a slight decline in November. Core prices, excluding volatile food and energy prices, edged up 0.1 percent.
“Looking ahead, there is little threat of deflation, but far more signs of very modest consumer price inflation,” Christopher said. “The cooling in inflation is noticeable for most households; however, consumer confidence is suffering due to political bickering over the debt ceiling crisis.”
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)