Consumer spending on apparel and footwear increased by 1.6% in July, according to revised figures released Friday by the U.S. Bureau of Economic Analysis. This is the smallest increase in the combined category in the past 14 months.
Spending growth on apparel lagged far behind total consumer spending on goods and services, which grew by 4.5% on a 12-month smoothed basis.
Although consumption of apparel alone edged up by 1.8%, its best showing in six months, footwear spending slowed dramatically, to an increase of only 1.3%, after spending many months at growth levels between 3 percent and 4 percent.
Patagonia has joined in with a broad coalition to sue the Trump administration aiming to strike down what they claim is the President’s “extreme overreach of authority” in revoking the Bears Ears National Monument.Read more
Ethical Fashion Show Berlin and Greenshowroom expand to create a "green hub," welcoming a robust slate of resources and conferences in its new home in Kraftwerk Berlin.Read more
J.C. Penney is answering the call for more diverse sizing with its new, personalized subscription box service for Big & Tall male consumers.Read more
A consortium of Japanese Businesses involved in global trade have teamed up to start a demonstration test this month to verify the applicability of blockchain technology as a way to streamline and upgrade cross-border trade operations.Read more
Unibail-Rodamco, the leading commercial property company in Europe, has entered into an agreement to acquire Westfield Corp., the 12th largest U.S. retail property owner, for an estimated $15.8 billion.Read more
Retailers risk alienating shoppers by swapping out their complicated markdown messages for simpler terms that, in some cases, take the focus off the deals.Read more