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Apparel retailers and department stores are bumping up against pockets of price resistance, a sign that consumers are curtailing spending as inflation remains at the highest level in four decades.
Macy’s Inc. M +0.34% tried to raise prices on some mattresses and sofas by $100, but shoppers pushed back, Chief Executive Jeff Gennette said. Clothing brand Bella Dahl raised prices on its T-shirts by about $20, then sales fell and the company rolled back the price increase. “There was a revolt,” said Steven Millman, its chief brand officer. “If we go any higher, we’ll do half the sales.”
By 焕晨讲故事Apparel retailers and department stores are bumping up against pockets of price resistance, a sign that consumers are curtailing spending as inflation remains at the highest level in four decades.
Macy’s Inc. M +0.34% tried to raise prices on some mattresses and sofas by $100, but shoppers pushed back, Chief Executive Jeff Gennette said. Clothing brand Bella Dahl raised prices on its T-shirts by about $20, then sales fell and the company rolled back the price increase. “There was a revolt,” said Steven Millman, its chief brand officer. “If we go any higher, we’ll do half the sales.”