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Clothing and Footwear Spending Sank 28.2% in March

Consumers are shopping and denim is poised to be their go-to. Join Rivet tomorrow at 11 am ET for a roundtable with Diesel, Tenue de Nimes, Isko, NPD and Cotton Incorporated to discuss how denim can position for dominance in the new normal.

As the coronavirus pandemic’s economic effects took hold, consumer spending on clothing and footwear fell a seasonally adjusted 28.2 percent in March to $2.91 billion from $4.06 billion in February, the Bureau of Economic Analysis (BEA) reported Thursday. Compared to March 2019, spending was down 28 percent from $4.04 billion, according to BEA data. Overall…

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