9 Fashion Retailers On Life Support
Despite the dire threats of a retail apocalypse, retailers pulled it out last year. The retail sector, excluding automobiles and parts, saw a 4.4% increase in
2018 over 2017, with nonstore, including ecommerce retailers setting the pace,
up 10.4%.
But last year, not all retail segments were so fortunate. While shoppers were busy furnishing and updating their homes, they were far less interested in
updating the clothes in their closets. As a result, clothing and clothing
accessories stores saw only a 1.1% increase over previous year, while building
materials and garden centers advanced 8% and furniture and home furnishings
stores gained 4.8%.
Signs are that fashion retail has entered a new normal, near-steady state, with sales growth leveling at about 1% in 2016 and 2017, after rising over 2% in
2013 through 2015. Look around and there are more stories of failure than
success in fashion retail. Customers are simply not buying what many fashion
retailers are selling.
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