Data released by the Bureau of Economic Analysis shows expenditure on apparel in the US rose solidly in August, its fastest rate since January 2006.
Womenswear once again outstripped growth in menswear, and luxury apparel continued to do well.
Luxury retailers beat expectations during August. At Macy's Inc. sales rose moderately, exceeding estimates. Luxury retailer Saks Inc. said August sales at stores open at least a year rose strongly, beating expectations.
At rival Nordstrom, sales also rose solidly. It has been reported by luxury retailers that strong sales were gained in knitwear, cashmere and outerwear.
Continuing warm weather in September reportedly dented sales of autumn merchandise, however heavy discounting has helped clear out spring/summer merchandise.
Australian Wool Innovation Limited
marketing@alchempro.com
