Recently released data shows that the single-store sales of major U.S. clothing retailers continued to decline significantly in January 2009. Among them, Gap decreased by 23% from the previous month, American Eagle decreased by 22%, Abercrombie & Fitch decreased by 20%, Zumiez decreased by 14.8%, WetSeal decreased by 14%, Children’s Place decreased by 11%, Pacific Sunwear of California decreased by 11%, and Limited Brands decreased by 9%.
In addition, Talbot, a high-end women’s clothing retailer, decided to cut 17% of management positions and suspend its pension plan to reduce expenses by US$150 million. The company’s sales in the fourth quarter of 2008 were US$328 million, a US$100 million decrease from the same period in 2007. , single-store sales fell 24.6%.
