Sales warmed along with the weather in May but the improvement will be a relative one. May saw a rebound from the low levels of same store sales that we saw back in April (worst since 2001.) Still it isn't hard for apparel companies to improve from a weak the baseline. However, year over year, retailers are expected to report the weakest sales gain in four years. Given that we are now entering the summer season, the months ahead are heavy on markdowns and light when it comes to shopping activity.
It is market week here in New York. One important element of retail news is hearing just how heavy orders at apparel companies are right now as manufactures sell product to retailers for the all-important Christmas holiday.