×
69 582
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - ny 59th st
Permanent · NEW YORK
SACK OFF 5TH
Asset Protection Guard
Permanent · FARMINGTON HILLS
JCREW
Merchandise Planner
Permanent · New York
MACY'S
Asset Protection Detective, Pleasanton Stoneridge - Part Time
Permanent · Pleasanton
MACY'S
Asset Protection Officer, West Virginia - Full Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Investigator, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Coronado Center - Part Time
Permanent · Albuquerque
MACY'S
Asset Protection Detective, Roosevelt - Part Time
Permanent · Philadelphia
MACY'S
Asset Protection Officer, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Manager, Merchandise Execution
Permanent · Aventura
MACY'S
Manager, Asset Protection
Permanent · Capitola
MACY'S
Manager, Merchandise Execution
Permanent · Boca Raton
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · TANNERSVILLE
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODSTOCK
URBN
Assistant General Manager (m&v)
Permanent · GLEN MILLS
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
L'OREAL GROUP
Analyst - Supply Chain
Permanent · Streetsboro
L'OREAL GROUP
Payroll, Senior Business Analyst (IT Liaison) – l’Oreal Corporate Payroll
Permanent · St. Petersburg
L'OREAL GROUP
Senior Manager- Human Resources, Luxe Supply Chain
Permanent · South Brunswick Township
PRANA
Director, Strategic Accounts & Sales Business Development
Permanent · CARLSBAD
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Stanford
Permanent · PALO ALTO
ROSS
Store Protection Specialist
Permanent · Tampa
By
Reuters API
Published
Mar 13, 2020
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Demand dives at apparel retailers as virus-wary shoppers stay home

By
Reuters API
Published
Mar 13, 2020

As virus-wary shoppers stayed home in the United States and Europe, apparel retailers braced for a blow to sales and a potential inventory glut. Some slashed orders at garment factories while others began discounting merchandise.




U.S. retailers including Macy's Inc , Saks Fifth Avenue and Gap Inc.'s Banana Republic sent notices to shoppers late Thursday saying they were open for business in a move to stem losses due to a steep decline in traffic.

In Europe, Zara owner Inditex said on Friday it would temporarily close stores in the areas of Spain worst affected by the coronavirus, including Madrid. In Italy, most shops were shuttered on Wednesday.

In New York, stores in some of the world's most heavily visited shopping districts like Fifth Avenue and Madison Avenue were practically empty on Friday despite pleas to customers.

"Our stores are open for business and continue to be a safe place for you to shop," Saks President Marc Metrick said in an email to shoppers late Thursday.

Kohl's Corp said it had experienced softer demand, especially in areas most affected by coronavirus. On Thursday, Gap Inc. said it expected a $100 million revenue hit this quarter due to the coronavirus outbreak.

LVMH's Sephora beauty chain, Ulta Beauty and MAC Cosmetics, owned by Estee Lauder Companies Inc , have all ordered employees to cancel makeovers of customers, to avoid touching faces with hands, which can spread the virus.

At specialty and fashion apparel stores in the United States, retail transaction velocity, a measure of sales, fell nearly 10% from Feb. 15 to March 9 from its year earlier level, according to a Customer Growth Partners LLC report.

In China, the world's biggest apparel-buying market, consumer demand remains a major concern even as shoppers begin to venture out of quarantine.

No appetite



Further up the supply chain in Bangladesh, the world's second-biggest apparel manufacturer after China, brands are asking for cuts in orders of up to 30% and seeking discounts, said Rubana Huq, head of the Bangladesh Garment Manufacturers and Exporters Association.

Even as retailers begin to repair broken supply chains due to recently closed Chinese factories, they must now scramble to avoid a glut of unsold stock.

"Our supply chain is not the issue and it's not the concern. It is consumer demand in an environment where you have 80% of the stores being closed," Adidas Chief Executive Officer Kasper Rorsted told analysts on Wednesday.

Adidas, which makes nearly a third of its sales in Asia, said it would clear excess inventory in China by selling stock at a discount in outlet stores.

H&M said on Friday it was in close contact with its suppliers and evaluating the situation together with them.

"I usually do shop half online and half in stores, but I am avoiding malls and stores for the last few weeks," said Sarah P., 42, of Rockville, Maryland, a legal assistant who requested that her last name not be used.

She said that prior to taking a break from going out and shopping, she spent most her dollars at Nordstrom Inc , Macy's, J. Crew, Banana Republic, Sephora, and Zara stores.

"It started because of flu and cold, but now it is nonnegotiable with coronavirus. Too risky." Luxury leather goods maker Salvatore Ferragamo, known for its Vara shoe and Ferragamo Studio bag, said it had started shifting products between regions.

"Of course when the virus starts spreading everywhere that becomes much more difficult," Chief Financial Officer Alessandro Corsi told analysts on Tuesday, adding any discounts would be strategic so as not to tarnish the cachet of its star products.

The bottom line is that slump in demand for apparel and accessories that happened in China had now spread to the rest of the world said Siddiqur Rahman, a Dhaka-based garment exporter who supplies brands like H&M , C&A, Gap, Walmart and Mango.

"There is no appetite for garments from European and American brands. Cities are locked down. Who will buy clothing?" he said.
 

© Thomson Reuters 2023 All rights reserved.