Powerful forces are turning the retail apparel industry upside down.
“The retail apparel business has always been tough,” said Jack W. Plunkett, CEO of Plunkett Research Ltd, in a video on the topic. “But it’s become much worse, frankly, in recent years.”
The U.S. apparel and accessories industry is down more than 10% in the last year, with several apparel company stocks hitting new multi-year lows. Although the U.S. GDP has risen for eight consecutive years and unemployment has decreased, retail apparel stores continue to struggle.