Retailers from Gap Inc. to Urban Outfitters Inc. are already struggling to persuade consumers to pay full-price for clothes. Now, it turns out, many of their younger customers prefer trading T-shirts, jeans and designer dresses among themselves than actually buying new gear.
Macy’s Inc. is touting Elvis Christmas tree ornaments in Tennessee and Blackhawks decorations in Illinois ahead of the holidays, tailoring goods for local markets to squeeze more out of its biggest shopping season.
Wal-Mart Stores Inc. is spreading around responsibility for its apparel business, splitting the job between two executives, as the world’s largest retailer strives to improve sales from clothing lines.
Mickey Drexler put $10 million of his own money into J. Crew Group Inc. when he took over its top job in 2003. As he overhauled the New York retailer, he personally reviewed every item of clothing sold, every model in the catalog and every new employee.