Some of the big players in the fashion retail industry are getting screwed by the recession.
- Nordstrom reported that holiday sales dipped 8.0 percent compared to last year.
- Neiman Marcus is reporting decreases of 31.2 percent in the five-week holiday period compared to 2008.
- Macy’s, Inc. reported a 4.7 percent drop for this holiday season compared with the five weeks ended Jan. 5, 2008.
- Gap Inc. reported a 12 percent decrease compared with last year.
But get this.
American Apparel reported that for the month of December 2008, sales for stores open for more than twelve months increased 3% over the year ago period, “on a constant currency basis.”
For the month of December 2007, comparable store sales increased 37%. There were 162 stores in the sales comparison for December 2008.
Makes you go hmmm…