Retailers facing an inflationary world
The costs of raw materials and of just getting things from manufacturer to store shelves continue to rise and Wesley Card, chief executive of Jones Apparel Group said on Monday that those costs will likely continue to be an issue for companies like his and will also be passed on to shoppers — especially looking ahead to 2009.
Card, kicking off the annual Reuters Consumer and Retail Summit, said on Monday that those costs are especially seen in the production of footwear and accessories.
Rising costs in a retail atmosphere that is being hampered by a weak U.S. economy and record-setting oil prices are expected to be one of the highlights of this year’s summit, which includes guests from across the retail world.
The summit continues through Thursday in New York and London.