Brands and retailers have been tightening inventories and reducing orders in response to a weakening global economy and a marked slowdown in consumer spending, but despite these cost-cutting efforts, the cost of getting goods into the country and onto store shelves is likely to rise as pressures along the supply chain mount.
The most visible threat to transportation costs has been surging energy prices. Gasoline prices reached highs over the summer and spurred more cutbacks in consumer spending. Truckers were particularly hard hit when diesel fuel reached a peak of $4.76 a gallon during the third week of July. According to the American Trucking Association, fuel costs for a 2,000-mile trip were approaching nearly $3,000 this summer compared with $1,680 during the summer of 2007. The ATA said it currently costs about $1,400 to fill a typical tractor trailer’s fuel tanks.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)