Q: So far my business has stayed pretty strong, but I’m wondering what you recommend for fall. There’s a lot of talk about inflation and a slowdown, but I’m not seeing it yet.
A: Fortunately, our menswear stores that serve wealthier clients are still doing quite well. We have even seen an increase in sales so far in August over last month, as customers return from their vacations.
While it’s true that the rate of increases is coming down compared to earlier in the year, we are not seeing a significant slowdown.
Suits and sport coats continue to sell well, but formalwear has tapered off. The customer just keeps wanting new dressy items; even dressy casualwear is outperforming more day-to-day pieces.
To answer your question specifically, we are planning our menswear stores up around 8% between August and November, and at around the same rate into early 2023. After that, we expect to see a flattening.
Menswear is having a real, extended moment, so let’s enjoy it while it lasts!