Retail May Be Sinking, But Outdoor Apparel Is Killing It
Ten years ago, no one would’ve believed that a $1,000 puffer jacket would be ubiquitous in every major city. But that’s exactly what Canada Goose Holdings Inc. has been able to achieve amid a drastic overhaul of the retail landscape. Today, fashion apparel sales overall are down 4% in the U.S., according to data from marketing firm NPD Group Inc. But the $48 billion active apparel category within the sector is up 2%, with outdoor apparel as one of the drivers of that growth. Sports outerwear, for instance, grew by 3.2% between November 2016 and November 2017. In that category are Canada Goose; North Face, owned by VF Corp.; and Columbia Sportswear Co. “Even though both fashion retail and the outdoor sports retail [category] are posting declines in sales, outerwear apparel has been really, really strong,” said Julia Day, executive director of business development for NPD. Hundreds of companies within the segment are congregating this week at the Outdoor Retailer + Snow Show expo in Denver. Read more at The Street.
