Retailers Selling Flip-Flops and Swimwear While Blizzards Rage
Punxsutawney Phil was right when he saw his shadow. There is now snow in nearly all 50 U.S. states. The Wall Street Journalreports that the blizzards, cold weather and record snowfall is not stopping retailers from pushing sandles, tank tops and swimsuits. This is because - thanks to low inventory practices - many retailers sold out of their winter apparel weeks ago.
The Children's Place Retail Stores Inc. this week featured brightly colored polo shirts in its store windows, including a Manhattan location that closed its doors early Wednesday because of blizzard-like conditions. "We use our windows to highlight our latest fashions," explained a spokeswoman. Kohl's Corp.'s advertising for snow-blanketed Silver Spring, Md., touts a President's Day weekend sale on flip-flops and children's swimsuits. Gap Inc.'s Old Navy stores are selling $2 lace-trimmed camisoles that a spokeswoman said are selling well.
"The chances of shoppers buying a tank top or some shorts when it's 20 degrees and a foot of snow is much less likely" than in warmer weather, said Paul Lejuez, a senior retail analyst with brokers Credit Suisse.
Plans to keep inventory low because of the recession have backfired for some retailers. These retailers likely would have sold tons of coats and cold weather accessories if they had stocked up on them. It is hard to blame them too much as the last several winters have been much milder.
