The great clearance sale of 2022 continues at stores across the nation.
have also talked about excess inventory in recent earnings calls and the impact of inflation on shoppers.
Sleepwear, active and casual sportswear — clothing that was popular during the pandemic when more people worked from home — are among the items retailers are marking down.and said in July that it expects "pressure from increased promotional activity in the consumer electronics industry.”"During the quarter, we observed that all retailers were working to shed their excess inventory, setting the industry up for higher permanent markdowns and promotional levels," Macy's Inc.
"The industry-wide inventory levels along with the slowdown in consumer discretionary spend resulted in elevated inventory levels within certain categories," Gennette said. “We are targeting appropriate inventory levels by the end of the year and plan to be aggressive and taking the necessary markdowns to drive faster sell-throughs in our aged inventory in seasonal goods, private brand merchandise and pandemic-related categories,” he said.Gennette said more than 55% of Macy's offerings for the holiday season will be new, an increase of 30 percentage points from the 2019 holiday season "to meet customer expectations.
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