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Suits Still Strong but Sales Dip From Peak
Men’s tailored clothing sales came down to earth last year from a lofty high in 2011, but clothing executives can take comfort in what appears to be a fairly soft landing.
After a 23.7 percent gain in 2011 to $4.61 billion, the category abruptly changed direction last year, with overall sales declining 6.6 percent to $4.3 billion. Even the previously red-hot suit classification decelerated to a 1.2 percent increase, to $2.48 billion, after narrowly missing a 30 percent jump in the previous year, according to figures from The NPD Group Inc.
More recent figures have been slightly better, suggesting the market is essentially coming back to reality. The growth spurt came after decades of difficulty and resulted from young men buying into the slimmer-fit suit as their elders refreshed their wardrobes accordingly in a tight job market.
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