Warm Winter Credited for Sales Slump

A warmer-than-usual winter is affecting retailers, reports The New York Times, as consumers are not purchasing as much cold-weather products as retailers had expected.

For instance, boot sales are down 3 percent throughout the country, and sales of women’s boots have declined by 24 percent in New York. Sales of winter hats, gloves and scarves have also declined 2 percent nationally.

This has not only resulted in lower sales but it also means retailers have excess inventory they will have to sell later. For instance, Macy’s (Cincinnati) has already noted that it will have to heavily discount its winter items to move inventory.

Last year, the country experienced a much colder winter, which caused some retailers to run out of outwear early. That caused some retailers to purchase extra outerwear for this year, thinking that this winter would be similarly cold.