Retail fur sales holding up despite heat

SANDY PARKER REPORT, VOL. 30, ISSUE 24, AUGUST 21, 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
Retail fur sales holding up despite heat
SUMMER RETAIL FUR SALES AROUND THE UNITED STATES have been holding up better than expected, considering the abnormal heat that has blanketed the country at times and set records in some parts. From a volume standpoint, these are the lightest months of the year, so percentage comparisons can be misleading, but most retailers contacted last week indicated they were running ahead in both new sales and their storage and service operations. The best results were reported by those who have diversified into novelties, including non-fur items. And, while August fur promotions have been all but abandoned for decades, a number of stores indicated they were planning to revive such events for this week and next.
The demise of the ‘August fur sale’, which had enabled the month to rank fifth or sixth in terms of volume, was attributed to the rise of in-season promotions offering heavy discounts. As consumers learned to wait for those bigger discounts – and buy when they could wear their purchases – the traditional August event and its 10% to 15% incentives became meaningless and gradually disappeared. Now, however, a number of retailers feel the time may be ripe to revive that promotion.
IMPORTS OF FUR APPAREL INTO THE U.S. DECLINED AGAIN IN JUNE, continuing the downtrend that began earlier this year and reflecting smaller orders placed by wholesalers and stores at this year’s fairs. Again, the drop was mainly in the mink category, confirming earlier reports that American buyers had placed greater emphasis on smaller and less expensive items. According to the latest Commerce Dept. data, imports from all sources in June amounted to $16.8 million, down 20% from the same month a year ago. At mid-year, total imports were $67.9 million, still 2% ahead of last year.
IN THIS ISSUE:
Summer Retail Sales Termed OK
Fashion Items Are Best Sellers
Storage, Service Called Good
August Fur Sale Being Revived?
U.S. 6-Month Imports Decline
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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