Retailers cautiously placing inventory orders for holidays
Manatee — Back-to-school sales are still under way but retailers are already looking ahead to another big season — holiday sales.
‘Tis the season for ordering fourth-quarter inventory and retailers are looking at merchandise with a critical eye as sales continue to be weak and inventories are higher than normal.
“Inventory has been a serious issue for the last 18 months,” said Rick McAllister, president and chief executive officer of the Florida Retail Federation. “Most retailers have been trimming inventory for a period of time, and certainly that will be reflected in merchandise this year.”
Bealls Department Stores officials would not disclose specifics about inventory orders for the holiday season but the Bradenton-based retailer is being more selective than in years past about what and how much it does stock.
“Bealls is approaching the holiday season cautiously,” said Gwen Bennett, vice president of advertising and e-commerce for Bealls Department Stores. “Although inventory levels will be lower than last year, the buyers have focused their efforts into a value-priced gift strategy.” The chain is offering moderate priced items for gift purchases.
Lana Cain-Krauter, president of Bealls, said the company did an extensive study on the merchandise sold last winter as well as consumers’ spending behavior to help them prepare for this season.
“We’ve been very prudent with our inventory,” Cain-Krauter said. “We looked at our big categories that make us unique in this market, such as Guy Harvey and Izod, and made sure we brought those identifiable items back and additional items that we can offer at a great price.”
Last year, holiday sales were dismal for retailers. According to the National Retail Federation, holiday sales fell 2.8 percent last year to $447.5 billion.
Retailers may be in for another disappointing season this year as they experienced weak summer sales.
