Q: How long will the current slowdown last? Our sales have been down for some time and I’m nervous for the season ahead.
Steve Pruitt: I understand your concerns, but what I can say is that the current slowdown is part of a normal retail cycle and we will come out of it. After years of steady growth, it is no surprise that consumers have pulled back their spending on apparel. And, menswear has been further challenged by the fact that we haven’t seen any exciting, new fashions for some time.
That said, we do expect a pickup when new looks hit the floors this fall. And, once the election has passed and there is a greater sense of security, consumers will return for the holiday shopping season.
To answer your question directly, the slowdown will start to wane this fall and we should be in much better shape by fall 2017. Hang in there.
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