Given this scenario, it would be wise to invest in these four apparel stocks with a strong online and offline presence. Retailers are banking heavily on this shopping window like they do every year. On average, an American had spent a record $1,101.52 for 69.1 pieces of clothing.Īlso, clothing sales seem to be picking up ahead of the holiday season. Last year, apparel production had accounted for 2.8% of the overall retail market, while footwear accounted for 1.9%. apparel and footwear industry had generated $470 billion in retail sales in 2021. According to a recent report by the American Apparel and Footwear Association, the U.S. In fact, the apparel and accessories industry had also played a major role in driving retail sales in 2021. This trend has been continuing for the past several months. This has resulted in people once again spending on apparel, accessories and footwear.Īlso, after two long years, people are giving their wardrobes a makeover. People who waited long are finally going on vacations. However, sales started picking up once the economy started reopening and COVID-induced restrictions were lifted. The peak of the pandemic saw people almost giving up on buying new clothes and accessories as they mostly stayed indoors. The clothing market has already been doing good for some time. September jump also indicated a solid back-to-school season as parents and students spent aggressively on new clothes. However, the jump in clothing sales in September comes despite a steep rise in prices, as the consumer price index (CPI) increased 0.4% in September on a month-over-month basis and 8.2% year over year. This comes as retail sales remained unchanged for the month as higher prices of commodities continued to make people spend cautiously. The Commerce Department said on Oct 14 that sales at clothing stores in the United States grew 0.5% in September. This has been helping stocks like Chico's FAS, Inc. The apparel industry is also facing multiple challenges but higher demand for clothing and accessories during the back-to-school season and ahead of the holiday season is driving sales. According to the latest data released by the Commerce Department, apparel sales grew in September although overall retail sales remained flat. However, the apparel and accessories market seems to be swimming against the tide. Retail sales have been slowing lately as higher prices are compelling people to spend cautiously.
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