Retailers suffering as warm East Coast weather distracts shoppers from buying winter clothes
Retailers all along the East Coast are seeing a significant fall in the sales of winter clothes owing to unusually warm temperatures for this time of year.
Though the mild weather is driving more consumers to the streets, consumers are reluctant to spend their money on protective outer layers for the winter.
The presumption is that people simply are not cold enough to consider buying the winter coats and chunky wool knits that fill clothing stores at this time of year.
Sell sell sell: Shops are forced to begin sales early in an attempt to shift stock
Despite Accuweather expert Paul Pastelok”s prediction in October that New York City will see above average snowfall beginning in December, residents and tourists are still enjoying balmy temperatures of around 40-50 degrees Fahrenheit.
The International Council of Shopping Centers predicts that holiday shoppers are more likely to stop in to electronics and gadget shops for their gift buying.
This forecast is especially bleak for stores like Modells who sell sports and active wear for the outdoors.
This year they added significantly to their inventory of winter gear for the holidays based on the snow storms and early winter freeze of 2010.
Now they”re having to slash their prices to get rid of stock.
Any takers Parkas like this one by Woolrich are less in demand than usual
CEO Mitchell Modell told the New York Post: “We bought almost triple the inventory because last year we had sold out on a lot of key items by early December.
“In our 122-year history, we have never taken prices this deep this early.”
According to the Council of Shopping Centers, apparel sales nationwide have inched up just 0.4 percent during the past two months compared with a gain of 2.6 percent during the past fiscal year.
Many fashion stores are starting their winter sales early to try and move their cashmere sweaters and woolen overcoats off the racks.
Nationwide chains will be comforted, however, by the abnormally cold weather currently hitting the West Coast.
The hope will most certainly be that any unsold outwear from the East Coast can be shifted to the West Coast stores.