By Kylie Gumpert (Reuters) - Apparel retailers saw a boost of no more than $200 million in sales from cold weather just before the new year, and with product markdowns above 50 percent, it will be very difficult to make up margins in the coming months, industry researchers said. Shoppers came out to spend on winter apparel in the last two weeks of December as cold weather finally rolled in after an unseasonably warm run-up to the holiday. Holiday sales are a major influence on retailers' financial health, and department stores like JCPenney and Macy's are some of the most affected from warm weather slowing apparel sales, according to consultants. Winter storms in the Midwest and Northeastern United States, some bringing more than a foot (30 cm) of snow, boosted spending on apparel by about $200 million, contributing around 0.1 of a percentage point to this season's 3.4 percent growth over last year, calculated Craig Johnson, president of retail consulting firm Consumer Growth Partners. "Let's just say it's better than a sharp stick in the eye," Johnson said, adding that while the year-end bump was good for outerwear sales, it is too little to save "an otherwise sorry season." Despite some retailers' apparel sales troubles, the athletic leisure players including company Lululemon Athletica fared well in the third quarter according to filings and consultants. There could be some relief for others as the winter chill seeps into 2016 and shoppers stock up on warmer clothing, helping move stuffy inventories that have built up since October said Planalytics, a firm that determines how weather is affecting consumer demand. But with heavy coats and other winter accessories at 40 and 50 percent off on average, and sweaters at upwards of 60 percent off, deep discounts will pressure profit margins for retailers said Johnson. On Thursday (December 31), some coats at Macy's were up to 65 percent off and some parkas at Abercrombie & Fitch were marked down to $130 from $260, according to retailer sites online. Companies did not respond to requests for comment. Abercrombie declined to comment. While cooler weather is welcome, its late arrival is not in retailers' favor as most shoppers have blown through their holiday spend and have little discretionary dollars, said Sonia Lapinsky, a director of retail practice at consulting firm AlixPartners. The firm expects department stores and teen retailers especially will suffer into 2016 unless companies find a way to cut back on deep discounting. Off-price retailers are expected to continue to challenge traditional retail models and grow at a healthy rate. (It has been refiled to capitalizes 'P' in AlixPartners in final paragraph.) (Reporting by Kylie Gumpert; Editing by Andrew Hay)
Another day, another slay.
The Georgia Republican accused the transportation secretary of trying to “emasculate the way we drive” by supporting electric cars.
- Business Insider
The Navy just deployed its $13 billion aircraft carrier, which was both commissioned and panned by Trump, who ranted, 'it just doesn't look right'
The US Navy's newest aircraft carrier, USS Gerald R. Ford, set off on its first deployment on October 4, after it was commissioned five years ago.
‘I’m The Idiot Husband That Stayed’: Keith Papini Was ‘In Shock’ After Discovering Wife’s 2016 Kidnapping Was A Hoax
Keith Papini had been one of his wife’s biggest advocates, but when investigators revealed in 2020 that her kidnapping four years earlier had been an elaborate hoax, the dad of two told investigators he was “in shock.” “I’m the idiot husband that stayed around the whole time,” Keith said in August of 2020 as he sat down to talk with investigators after the stunning revelation, according to interrogation footage included in an episode of ABC’s “20/20,” which aired on Friday. Sherri Papini was sen
After losing their second quarterback in as many weeks, the Patriots turned to a familiar face that has already won a Super Bowl with the team to help bolster a QB room searching for healthy bodies. No, it’s not Tom Brady.
The former president's legal team “made the mistake of using a word that they have not used before," said "The Last Word” anchor.
King Charles was reportedly "irritated" that Kate Middleton got more attention than he did thanks to her chic fashion sense.
- The Hill
The next named storm of the 2022 Atlantic hurricane season is Julia.
- Ukrayinska Pravda
VALENTYNA ROMANENKO - TUESDAY, 4 OCTOBER 2022, 11:46 The Chief Intelligence Directorate of the Ministry of Defence of Ukraine says that more than 2,000 Russian soldiers have contacted them over the past few weeks asking for an opportunity to surrender.
The former House speaker offered up a bizarre defense of the Senate candidate.
Kate Middleton and Prince William first started dating in college—a time where drama is hard to avoid.
- Broncos Wire
The Broncos are bringing in Latavius Murray after losing Javonte Williams to a season-ending knee injury.
- Good Housekeeping
Meghan Markle reportedly wanted to be the Queen Bee of the royal family, leading to clashes between her and Palace staff.
- Women's Health
Alexandra Daddario is in Paris, and she took a moment to go nude and makeup free in an Instagram selfie. Alex believes her skin health is tied to mental health.
- USA TODAY
This Florida woman survived her 'biggest mistake' in Hurricane Ian. Why experts say many others didn't.
The rising Florida death toll from Hurricane Ian is further proof that people's vulnerability and misinformation play a role who lives and who dies.
- Tacoma News Tribune
The former baseball player and coach has a couple World Series Championships under his belt.
Plus, she shows off her Parisian It girl style.
The MSNBC anchor had her own withering response to the Rupert Murdoch-owned newspaper's criticism of the former president.
- Badgers Wire
Lance Leipold, one of the hottest coaching candidates in the country, offered his thoughts on the current head coaching vacancy at Wisconsin:
- Idaho Statesman
Rare, elusive animals chased a mother bear and her cubs across the rugged terrain of the Teton Wilderness, photos show.