Fur apparel imports up sharply in February

SANDY PARKER REPORT, VOL. 30, ISSUE 11, MAY 1, 2006
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
Fur apparel imports up sharply in February
IMPORTS OF FUR APPAREL INTO THE U.S. ROSE SHARPLY AGAIN IN FEBRUARY, as they had the previous month, but the increases were believed to be more a reflection of higher prices rather than a greater number of units. The first quarter of the year is generally the smallest in terms of imports, the bulk usually entering in the second half. Total imports for 2005 actually declined slightly despite higher prices. According to the latest Commerce Dept. data, February imports from all sources amounted to $8.2 million, a 34% jump over last year’s month.
The latest data also show sharply higher imports from other than the usual leading shippers, which include Hong Kong/China, Canada, Italy and Greece. Among the new entries are Macedonia, Turkey and Germany, whose combined shipments added up to about a quarter of the February total. Mink imports from Hong Kong/China in February rose 82% to $2 million, but other furs declined 33% to $311,000. Canadian imports were down 16% to $2 million in the latest month, including $625,000 in mink, down 12%, and $1.4 million other, off 18%. Greek shipments rose 59% to $1 million in February and Italy’s declined 16% to $493,000.
THE FAIR SCENE SHIFTS TO THE NORTH AMERICAN FUR & FASHION EXPOSITION in Montreal this week and retailers heading there indicated that, while they are optimistic for the season ahead, they’re keeping a tight rein on their expenses. It’s not just a matter of the substantially higher prices facing them at the fair – that didn’t stop them last year or the year before. Nor do they anticipate adverse consumer reaction to the new prices. But the heavier-than-normal inventories of unsold goods they’re carrying over from last year and the further decline in the purchasing power of the American dollar in Canada and elsewhere has put a crimp in their open-to-buy positions.
IN THIS ISSUE:
NAFFEM: Retailers Optimistic…
…but Intend to Buy Cautiously
Big Carryover Inventories Cited
U.S. Consumer Confidence Rises
Besieged Store Offered ‘Compromise’
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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