2023-09-29 05:48:00
Executives at major retailers such as H&M said that unseasonably warm fall weather, from the United States to Europe, has led to a decline in sales of heavy jackets and coats as the important holiday shopping period approaches.
Some clothing stores have already reduced prices to avoid accumulating stocks.
Last year, retailers sought to get rid of excess inventory that had built up due to a shift in consumer demand toward basics rather than discretionary items such as clothing.
But with warm temperatures expected at the start of the fourth quarter of the year, according to weather tracking company Weather Trends International, winter clothing and supplies stores may find they have huge inventories at the end of the season.
The luxury brand “Cos”, affiliated with “H&M”, began offering a 20 percent discount for online and in-store sales on items such as merino wool jackets and long puffer coats.
Helena Helmershon, CEO of H&M, told Archyde.com that shoppers are postponing the purchase of “heavy” fall clothes due to the warmer than usual weather.
The European “Bepco Group” also indicated that the arrival of its stock of fall and winter clothing coincided with the continuation of record warm weather in its core markets in Central and Eastern Europe. “When it’s 26 degrees Celsius you can’t sell coats,” CEO Andy Bond told analysts.
“The month from Black Friday to Christmas will be much warmer than last year, which will lead to additional excess inventory and sharp price reductions,” said Bill Kirk, CEO and founder of Weather Trends International.
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