Inflation, lower tax returns and cuts to SNAP (the U.S. On the big-picture front, these trends are likely to extend into the second quarter, which could mean the first half won’t be anything to brag about.Īpril markdowns worsened from March, continuing the promo trend that emerged in November, Boruchow wrote. In a research note, Wells Fargo retail analyst Ike Boruchow noted conservative wholesale order books for spring and summer. Stubbornly high inventory spurred many retailers to roll out discounts and promo in April.
The data is from UBS Evidence Lab combined with foot traffic data from a third-party tracker that includes mobile phone app data with digitized business locations, UBS said. He noted that even foot traffic at off-price retailers was down 15 percent from the prior week, when this segment showed a 1 percent growth rate.Ī sampling of foot traffic declines at different retailers includes Champs and Aerie, each at -40 percent Vans, -34 percent Michael Kors, -33 percent Coach, -33 percent DSW, -30 percent American Eagle, -28 percent Nordstrom, -27 percent Kohl’s and Old Navy, each at -24 percent Macy’s, -23 percent Burlington, -21 percent Dillard’s, Nike and Home Goods, each at -18 Lululemon and Ross Stores, each at -17 percent Carter’s, -8 percent, and DD’s Discounts, -1 percent. The prior week’s foot traffic rate was down for both channels at 14 percent and 13 percent, respectively. A UBS report from retail analyst Jay Sole said the decline was 27 percent from the prior week, with foot traffic decreasing 29 percent at specialty doors and down 22 percent at department stores. softlines space picked up speed for the week ending April 29.
Unfortunately, traffic deceleration in the U.S. The retail bears will be out in force as companies in fashion retail begin to report quarterly earnings this month.įoot traffic started to pick up in April on the Easter holiday, but not enough to offset slower March trends.
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