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February Spending on Clothing and Shoes Slid After January Gains

Fashion is at a crossroads: continue with cutting-edge strategies developed to persevere during Covid or slide back into familiar (yet unprofitable) habits? Get the experts' perspective at our in-person Sourcing Summit, Oct. 19 at New York’s Cipriani 42nd Street.

Consumer spending on clothing and footwear fell back again in February after a significant rise in January, according to estimates released Friday by the U.S. Bureau of Economic Analysis (BEA). Personal consumption expenditures (PCE) for clothing and footwear declined a seasonally adjusted 4.9 percent to $419.06 billion last month compared to January’s $440.79 billion spend….

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