Apparel sales growth was already on the decline when the pandemic took a sledgehammer to normal day-to-day life — and any reason to buy new clothes.
With signs that the outbreak is easing across the U.S., several clothing retailers and brands have cause to celebrate for a change, according to new research from Wells Fargo analysts led by Ike Boruchow.
“The retail recovery remains in full swing – with accelerating trends since mid-March, material [first quarter earnings] beats, and bullish outlooks from management teams across the space driving increased investor optimism,” the analysts wrote in a May 4 client note.
