Jim Cramer Says He’s Never Seen Apparel Sales Stop Like Now

By on August 27, 2013

James CramerAfter dismal sales of apparel were reported by Ambercrombie and Fitch (ANF) and several competitors, Jim Cramer speculated on the reason behind the drop-off. ANF same store sales were down 10%.

Cramer quipped, “It’s almost like we’ve all decided to go to the thrift shop…apparel has stopped in this country, I’ve never seen this.”

Cramer said the sales declines might be due to people spending on home remodeling and housewares.

SMA Comment: Perhaps the crushing burden of student loan debt is beginning to hit millenial’s pocket books. Personally, I’ve accumulated so much clothing over the years that I could probably get by without buying any more for the rest of my life.

2 Comments

  1. Alex Portlass

    September 2, 2013 at 5:42 pm

    This is a ridiculous commentary from Crammer. Notoriously fickle youngsters found another place to shop. Sales didn’t stop. They were down a fraction.

    Crammer and his hubris strikes again.

  2. Fortunato Luchresi

    September 10, 2013 at 2:27 pm

    It’s smartphones. Give a kid 1000 bucks and they’ll use half for the latest gimzo, the remainder on clothes.

    Automobile manufacturers have been studying this for the past few years. 16 year olds don’t give a crap about cars anymore.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>