January fur sales in US lack spark

SANDY PARKER REPORT, VOL. 31, ISSUE 45, JAN. 21, 2008
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
January fur sales in US lack spark
DESPITE FAVORABLE WEATHER CONDITIONS IN MOST SECTIONS OF THE COUNTRY – almost a rarity in recent years – American retailers are describing January sales as lackluster so far, not what they should be at this time of the year. But unlike previous years when abnormally mild temperatures were the culprit, the shopkeepers are blaming consumer jitters over the nation’s economy and what they perceive as a general pullback in discretionary spending. This was already noted by major department stores following the disappointing holiday shopping season and their resultant forecasts of poor profits for that quarter and possibly their fiscal year.
The furriers are doing business every day and say that consumer interest is good, but that they are showing more hesitancy before making their decisions. Price also is said to be a more important factor in their considerations, even though this season’s prices are significantly lower than they were a year ago because of the drop in the skin market. In this connection, retailers see a shift to shorter pieces, partly for more comfort and ease in today’s lifestyle, but also for the price. In retrospect, some believe this season’s increase in remodeling and repairs may also reflect consumers’ economy-oriented moves.
MINK APPAREL IMPORTS INTO THE U.S. PLUNGED IN NOVEMBER, continuing the 18-month decline that reflects retailers’ more conservative positions. Imports from all sources in the latest month, according to the Commerce Dept., amounted to $22.3 million, a drop of 28% from the same month the previous year. This consisted of $13.8 million in mink apparel, down 23%, and $8.4 million in other furs, down 35%. For the 11 months to date, imports totaled $166.3 million, a decline of 23%. The mink portion was down 25% at $82 million, while other furs were off 21% at $84.3 million.
IN THIS ISSUE:
January Sales Lack Spark…
…Economic Jitters Are Blamed
Wild Furs Strong at NAFA
Casotti Resigns as Legend Head
Pollution Woes Plague Ranchers
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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