Blog: Price hikes
Leonie Barrie | 8 October 2004
Interesting comments from Ernst & Young earlier this week when it released its latest Quarterly Market Basket price comparison report. A disappointing back-to-school season is one of the main reasons for falling apparel prices it says. But Jay McIntosh, the firm’s Americas director of retail and consumer products, believes: "Concerns over quotas will put pressure on retailers to raise apparel prices in the fourth quarter. In addition, blockages at West Coast ports and throughout the railroad system might delay store deliveries and result in merchandise shortages for the critical holiday season.”
Thinking about an upward shift in prices, my eye caught a similar remark made by Adidas-Salomon’s CEO Herbert Hainer at an investor presentation. Not one for beating around the bush, he said the apparel industry needs to lift prices. "Nike, Reebok, retailers, everyone, must have an interest in bringing prices up, otherwise no one will make any money," he said. Hainer must know what he’s talking about: he’s hiked earnings estimates twice during the year.
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