U.S. retail slumps, news by Hebei Longsheng
| Walmart, Adidas follow apparel retail sales slump with reduced imports U.S. retail sales rebounded in May. A 17.7% sequential increase equated to a 13.8% year over year increase following April’s 10.5% drop. Yet, that was largely driven by food sales. Sales in major merchandise sectors including clothing and electrical stores suffered continued year over year downturns of 53.1% and 25.0% respectively. The extended slowdown leaves apparel retailers with tough choices to make regarding inventory just as the peak back-to-school season gets underway. U.S. seaborne imports of apparel fell by 46.1% year over year in May, potentially managing inventories for that month, though imports outpaced sales in April and March. Among the major retailers J.C. Penney’s financial failure meant its imports dropped by 99.3% in May. Shipments to generalists and specialists alike have fallen with shipments linked to Walmart down by 52.2% while Wolverine World Wide fell by 73.1% and Adidas’s by 53.4%. By Hebei Longsheng Metals & Minerals Co,. Ltd. |
