Retail

Apparel sales just had their worst month in over 10 years. Here’s why

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A woman shops for clothing at the JC Penney Co. store inside the Roosevelt Field Mall in Garden City, New York.

Saul Martinez | Bloomberg | Getty Images

The apparel industry had a really tough start to 2020, as consumers are buying fewer and fewer items to stock their closets, and companies that typically sell tons of winter coats and sweaters tried to cope with the second-warmest January in the past 29 years.

Receipts at clothing stores dropped 3.1% last month, the most since March 2009, the Commerce Department said Friday.

“The consumer is clearly not prioritizing buying products, but a lot of this is down to unfavorable ranges, boredom with buying and some unfavorable weather: It is not…



Source cnbc.com

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