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NOTEBOOK – ONE GOOD READ: ‘Misforecasting’ leads retailers to have an abundance of casual wear as workers shift back to the office


You know all those sweatpants you accumulated working from home? The good news for you is there is an abundance of them on store shelves. The bad news for department stores is they have too many of them now that people have shifted away from working from home to returning to the office, resulting in an increased demand for more office-appropriate attire and less activewear. In this story, the Wall Street Journal finds that shoppers have shifted their spending away from the casual clothes and home items that were in big demand during the height of the pandemic, and that has caught some retailers off guard. Macy’s Chief Executive Jeff Gennette said the shift was dramatic and happened faster than the company had anticipated. “It’s classic supply and demand,” Gennette said. “Too much supply, not enough demand.” Citi analyst Paul Lejuez had this to say: “There was a lot of misforecasting in terms of how fast that shift would go back the other way.”

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