Cooler weather sparks fur retail traffic

SANDY PARKER REPORT, VOL. 31, ISSUE 35, NOV. 5, 2007
The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for more than four decades. For most of that time he has published a weekly newsletter, detailing results of international pelt auctions, wholesale price trends, business developments and movements in the trade, as well as economic and political activities that may impact on it.
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International Fur News
with Sandy Parker
Cooler weather sparks fur retail traffic
THE ARRIVAL OF COOLER WEATHER HAS BEGUN TO SPARK TRAFFIC through fur stores and departments, but apparently has developed too late to salvage what for many was a slumping October. Unseasonably warm temperatures, which have been the furriers’ bane in recent years, again took much of the blame for the month’s disappointing results. But several retailers also pointed to other factors, namely such disturbing developments as a soft housing market and rising mortgage defaults that may be causing consumers to be more cautious with their disposable income. And, while the Wall Street indexes are almost back to their all-time highs, investors’ confidence has yet to return to its fullest.
While the results so far have not increased their enthusiasm for the season, which opened unofficially last week, neither have they undercut it. Retailers are further cheered by the proliferation of furs in the current fashion magazines, prestige retail catalogs and photographed on celebrities. But, although furs are reveling in the fashion spotlight as they have been, increasingly, in recent years – and the item no longer is bought primarily for its warmth-giving qualities – the weather apparently has lost little of its power as a determining factor in a purchase.
WITH NO OFFICIAL WORD FROM THEIR GOVERNMENT regarding a change in the rules covering furs, Chinese manufacturers and exporters are continuing to operate as they have been. Although China, in its efforts to curb pollution, has issued new rules curbing a broad range of imports, furs were not mentioned specifically in the latest lists (SPR, Oct. 29). Under current rules, importers of “restricted” materials must pay a 15% duty plus 17% value-added tax, both of which are to be refunded when the finished product is exported.
IN THIS ISSUE:
Cooler Weather Sparks Traffic…
…but Too Late to Save October
Stores Wary over Holiday Outlook
U.S. Consumer Confidence Down
China Still Mum on Fur Rules
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
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