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Shutdown Fever: Spending on Clothing, Footwear Fell 30% in April

Join Theory, Google, H&M, McKinsey, Foot Locker, Lafayette 148, LL Bean, the Retail Prophet and more at Sourcing Journal’s Virtual Sourcing Summit, R/Evolution: Overhauling Fashion’s Outmoded Supply Chain, Oct 14 & 15.

With extremely high unemployment and retail shutdowns across the country brought on by the COVID-19 crisis, consumer spending on clothing and footwear plummeted 30 percent in April to $213.44 billion, the Bureau of Economic Analysis (BEA) reported Friday. The findings mark the second straight month of dramatic declines in personal consumption expenditures (PCE) for the…

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