Apparel retail sales in the US by dropped 4.4 per cent in March compared to last year, after a 7.8 percent increase in February. Department stores were hit hard with a drop of 25.3 per cent and apparel/accessories stores dropped 52.0 per cent year-over-year. A large portion of department store sales come from fashion businesses like clothing, shoes and accessories.

Revenue loss comes at the most pivotal time in the spring season, precisely when regular price selling takes place across most categories. The missed Easter sales and warmer weather selling will significantly impact the margins, especially in fashion apparel goods. As former Macy’s senior executive stated, basic commodities will likely be taken in since they have little to no margin risk. However, it is most likely that buyers and wholesalers have been in negotiation as the pandemic has escalated to reduce or cancel orders where possible.