Word: appareled
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...Rodeo Drive outlet in Beverly Hills. Europeans, who make up one-third of the clientele at Stuart Limited, an upscale six-store men's clothing chain in the Miami area, snap up $75 silk shirts and $475 leather jackets so quickly that Owner Stuart Graver can barely keep the apparel in stock. Says Graver: "They just gobble those up each time we get an order." As creative director for a Paris advertising agency, Rene Fatton, 41, lives in the world's fashion capital, yet he buys clothes in Los Angeles. Says he: "Ralph Lauren costs a lot less there...
...business interests still conflict in many ways. The Soviets are primarily interested in producing goods that they can export to the West in exchange for hard currency. They hope to find an American partner, for instance, to manufacture their designer fashions, some of which were shown at the Dallas Apparel Mart in March. But like the clothes, many of the products they want to make are already produced in abundant quantities elsewhere. Meanwhile, their Western partners, who are mainly eager to sell products and services in the Soviet Union, must cope with the nonconvertibility of Soviet currency. No matter...
...apparel industry, the mini's failure has been a real financial chiller. "The guts of the market is daytime wear," says Neal Fox, president of the Washington-area Garfinckels stores. Abandoned skirts at hefty reductions off the original price twirl idly on sales racks at Manhattan's Saks Fifth Avenue. According to Millstein, the industry lost billions in markdowns. U.S. Commerce Department figures indicate that sales of women's clothes in February dropped 3.6% from the year before...
YESTERDAY in English, I sat in the back row and noticed that my classmates' clothes managed to touch on every color in the rainbow. Their apparel even covered a bunch of colors that usually get left out of rainbows. My eyes, when they happened to stray from the podium, caught flashes of robin's-egg-blues and dark browns, pinks and greens and yellows and ragg wool sweaters. Brights and darks and neons and dulls, splattered on everything from tank tops to overcoats...
While retailers often have to cut prices to move merchandise, the cost of importing many of the products they sell, including apparel, has surged because of the fall in the value of the dollar. The result is a severe squeeze on profits. The industry benchmark for an acceptable annual profit is a 15% return on stockholders' equity. But a survey by Management Horizons of 300 large U.S. retailers showed that only 33 of them have met that minimum standard for the past three years. Some of the others may not be around a year from now. Warns K mart Chairman...