Results from U.S. mall-based apparel chains this week will give a clearer picture of whether Americans are splurging on clothes and accessories heading into ...
Gap, Abercrombie results to show if mall shoppers are splurging - Results from U.S. mall-based apparel chains this week will give a clearer picture of whether Americans are splurging on clothes and accessories heading into summer following mixed results from big retailers Walmart and Target .
The expectation of strong demand for apparel companies comes as shoppers hesitate to splurge on big-ticket discretionary items like electronics and home furnishing. Off-price retailers including TJX Cos and Ross Stores, which also delivered strong quarterly results, together hold 5% share of the U.S. apparel retail market. Gap's Old Navy brand held 1.3%.
"This gives us some optimism that we could see a better balance of spending between discretionary and frequency categories in the years ahead," Target CEO Brian Cornell said on an earnings call last week.U.S. data also pointed to Americans feeling better about stretching their budgets as a strong labor market helps them navigate sticky inflation, propping up retail sales over the last few months.
Target Abercrombie American Eagle Traditional Apparel Columbia Threadneedle Investments Apparel Companies Market Share
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