US fur retailers benefit from cooperative weather

SANDY PARKER REPORT, VOL. 32, ISSUE 1, FEB. 18, 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
US fur retailers benefit from cooperative weather
AMERICAN FUR RETAILERS NOW APPROACHING THE END OF THEIR SEASON are generally in a much better frame of mind than they were at this time a year ago, largely because of the cooperation they have been getting from the weather, a rarity in recent years. Mid-February finds many still selling as though it were still January and happy to see their inventories edging downward. But, as they begin to think ahead in view of the upcoming international fairs in Hong Kong and elsewhere, there are cautionary thoughts creeping into their minds that didn’t exist a year ago, namely the depressed housing market and increasing talk of a general recession.
While current retail activity may appear to contradict such thoughts – at least for the present – constant attention to the subject by the media, including government measures to combat a recession, are causing retailers to give it serious consideration. A spot check of stores in various parts of the country last week did, in fact, find those who believe the country is in a recession, but also a few who felt the media may be magnifying the situation beyond reality, particularly those whose local economies are relatively rosy at this time.
THE VALUE OF FUR APPAREL IMPORTS INTO THE U.S. DECLINED SHARPLY IN 2007, reflecting retailers’ more conservative planning. This was the third consecutive year of decline, following five years of steady increases. There are no comparable figures for units but, considering that average prices were down from the preceding year, the indication is that units may have declined even more. According to the latest Commerce Dept. data, imports from all sources in 2007 declined 23% from the previous year, when imports were already down 12.3% from the year before. The reduced buying was attributed to heavy carryover inventories that resulted from over-optimistic preparations.
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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