A large number of Americans are updating their wardrobes! Clothing retailers have strong growth momentum in Q1!

According to foreign media reports, as Americans return to in-person occasions such as social activities, travel and offices, their wardrobes are also renewed. In the first quarter, US clothing retailers achieved strong revenue, with total sales increasing by 14.9% year-on-year.

Apparel retailers that reported strong performance in the first quarter included:

• Nordstrom: Sales increased by 18.7% year-on-year, of which luxury department store sales increased by 23.5% year-on-year.
• Urban Outfitters: Sales increased by 13.4% year-on-year, of which Anthropologie's sales increased by 18.7% year-on-year.
• Express: Sales increased by 30.0% year-on-year.
• Ralph Lauren: Sales increased 18.3% year-on-year.

While many apparel retailers have benefited from shifting consumer demand, some are facing big challenges, such as supply chain disruptions and rising inflation. Retailer Abercrombie & Fitch said rising shipping and product costs weighed on its sales, causing its first-quarter revenue to fall 0.8%.

Overall, the US apparel market has great potential. During the pandemic, American families spent more money on physical goods, and demand for furniture, home appliances and other goods rose sharply. According to data from the NPD Group, more than 80% of American consumers plan to make changes in the next three to six months to reduce their spending on goods. In the first quarter of this year, consumers spent 6% less on goods than the same period last year. This is a good opportunity for apparel retailers. If they can grasp the consumption trend and solve the inventory problem, they will definitely win.

Editor ✎ Nicole/

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