Unseasonably warm autumn weather from the United States to Europe is denting sales of heavy sweaters and coats as the critical holiday shopping period approaches, executives at major retailers including H&M said, and some stores are already slashing prices to avoid piles of...
Unseasonably warm autumn weather from the United States to Europe is denting sales of heavy sweaters and coats as the critical holiday shopping period approaches, executives at major retailers including H&M said, and some stores are already slashing prices to avoid piles of unsold inventory. In the past year, clothing retailers have sought to clear excess stock that had piled up due to a shift in consumer demand to essentials from discretionary items like clothing.
European company Pepco Group also noted that the landing of its autumn and winter clothing inventory had coincided with persistent record-warm weather in its core Central and Eastern European markets. "When it's 26 degrees you don't tend to sell coats," Pepco's executive chairman, Andy Bond, told analysts on a call on Thursday.
"The month from Black Friday to Christmas is much warmer than a year ago which will result in more excess inventory and steeper markdowns," said Bill Kirk, CEO and founder of Weather Trends International. Unfavorable weather usually becomes a major problem for retailers as they place orders and ship items for important seasons far in advance to ensure enough products are on shelves to meet customer demand.
"Our deepest buys for the season are not in outerwear, which would be the heavy jackets for the very, very cold weather but ... in active, which are lighter-weight tops and bottoms, denim of all different varieties ... then lighter-weight knits."
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