October brings traffic pickup for US retailers

SANDY PARKER REPORT, VOL. 31, ISSUE 33, OCT. 22, 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
October brings traffic pickup for US retailers
OCTOBER’S ARRIVAL TRIGGERED THE START OF CUSTOMER RETRIEVALS OF THEIR GARMENTS from summer storage and, with them, purchases of new furs. While these new sales tended to constitute mostly smaller, sporty items and accessories, retailers reported some serious pieces also were bought. Nevertheless, the sales pattern was little changed from that of previous months. Mink continued to be the main item, mostly sheared, including reversibles to their own leather.
If the early sales are a clue to what retailers can expect to sell when the season opens up, it appears to indicate a continuation of the trend to lighter-weight furs.
A prime example is the growing popularity of sheared mink garments, which are now said to account for as much as three-quarters of some retailers’ mink sales. The preference for lighter-weight and less-bulky garments, even in other winter apparel, has been growing in recent years. This has promoted the development of processes to lighten the weight of furs, including shearing the fur even closer and the thinning of the leather side, such as has been done with shearlings, beavers and other furs.
CANADIAN MANUFACTURERS ARE WATCHING NERVOUSLY AS THEIR DOLLAR CONTINUES TO RISE against the American greenback, each upward tick cutting deeper into what profits they figured to earn on sales at the Montreal Fair. Since the fair in May, when the vendors did the bulk of their business with American retailers, the value of the American currency has shrunk nearly 15% against their own. Although some of the more savvy producers were able to anticipate a further slide in their customers’ money, either by building it into the price or hedging in exchange futures, not all had that foresight. But even those who did may not have covered themselves to the fullest extent.
IN THIS ISSUE:
October Brings Traffic Pickup…
…but Warm Weather Curbs Sales
Moscow Show Called Disappointing
Rising Canada $ Nicks Profits
U.S. Imports Down in August
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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