US Market: Clothing Retail Recovered To Nearly 80% Before The Epidemic In June
U.S. retail sales rose 7.5% month on month in June, according to the U.S. Department of Commerce The clothing and accessories industry rebounded the most strongly. After a sharp increase of 188% in May, the month on month growth in June continued to increase by 105%, with a year-on-year decrease of 23.2%; in addition, household furniture increased by 32.5%, department stores increased by 19.8%, large supermarkets increased by 2.7%, and retail sales returned to nearly 80% level before the epidemic. With the re opening of physical stores, the sales of e-commerce business decreased by 2.4% month on month.
The main retail industries in the United States in June were as follows:
Clothing and accessories stores: up 105.1% month on month, down 23.2% year on year.
Home furnishing shop: up 32.5% month on month, down 3.5% year on year.
Department stores: increased by 19.8% month on month and decreased by 10.6% year on year.
Large supermarkets: up 2.7% month on month and 2.5% year on year.
Electronic stores: up 37.4% month on month, down 12.7% year on year.
Sports, music and other hobby shops: up 26.5% month on month and 20.6% year on year.
Restaurant and bar: increased by 20% month on month and decreased by 26.3% year on year.
Gas stations: increased by 15.3% month on month and decreased by 19.1% year on year.
Grocery stores: down 1.6% month on month, up 11.7% year on year.
Online retailers: down 2.4% month on month, up 23.5% year on year.
What's new with us brand retailers:
★ Bed Bath & Beyond
In order to reduce the cost of goods, BBB will renegotiate with suppliers. BBB said in its report that the company's goal is to reduce the cost of goods by $200 million a year. In order to achieve this goal, BBB will reach new price terms with suppliers. BBB's announcement of this major move will mean that suppliers will have to make concessions to BBB before the company's upcoming year-end holiday purchases.
★ Brooks Brothers
Brooks brothers has secured a $80 million loan to support the brand's continued operations and debt payments as it searches for buyers, according to the company. It is understood that the loan will be provided by authentic Brands Group LLC and abg-bb LLC, a partner of Simon Property Group, the landlord of the shopping mall, with zero interest rate and no transaction fee.
★ PVH
Recently, the company announced plans to reduce the cost of its clothing giant, such as Kalvin and klfin, to better control the cost of clothing in North America. In the first quarter ending May 3, PVH Group sales fell 43% to $1.257 billion, with a net loss of $1.1 billion. During the period, Tommy Hilfiger's sales fell 39% to $615 million and Calvin Klein's sales fell 46% to $426 million.
★ J.C. Penney
J.C. Penney, a U.S. Department store retailer, said on Wednesday that it would cut about 1000 jobs and close 152 stores as part of its organizational restructuring. Jill Soltau, CEO, said that with the continuous development of retail formats after the outbreak, the group will focus on products and experience in the future to better consolidate its core competitiveness.
★ Levi’s
Levi's net loss in the second quarter was $635 million, down $6.25 billion in the second quarter. By region, sales in the American market fell 59% to $283 million, the European market fell 68% to $129 million, and the Asian market also fell 61% to $86 million.
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