U.S., U.K.: Apparel Sales Down

Avatar for Matt Hopkins By Scott C. Lucas|14 January 2008

Along with the drop in sales, profit margins were likely diminished as well, as stores were forced to offer large discounts to attract consumers. In Europe, major retailers Marks & Spencer also noted an unexpectedly large drop in sales in its third quarter. The decline in retail sales is expected to weigh heavily on U.S. and E.U. orders to clothing suppliers in Asia, with the sales slump trickling over to yarn and fiber producers.