MyHaberdasher

Earnings Preview: Nordstrom

My tailor who also works at Nordstrom’s in Downtown Seattle (their flagship store) had told me earlier in the summer that sales were strong at that store but lagging in others. Recently he told me that sales were starting to lag a bit downtown as well. Hopefully they will continue to have boosts during the Anniversary and other sales.

On my retail front, custom clothing is still selling well, however more so in the opening price points than before. Custom suits used to average $1,500 to $1,600 just months ago while customers are now inclined to purchase in the $1,000 to $1,100 range.

Consumers are currently more concerned with value than luxury. It's less a matter of 'what I want' and more 'what do I need.' In a slower economy, with fewer clients to pursue, business professionals must use every advantage they can to win over new & existing customers. Their personal appearance and that of their employees (see my site for corporate logo wear) must be at its best. If you look successful then you will instill confidence in your clients about your service and products. On the flip side, if you look broke, if you look like you really NEED the business, you are not as likely to get it. You have to dress the part if you want the lead role.

The value in custom clothing is that it leaves nothing to chance. The fit is perfect, the style is your own and if you can find it at the right price you will earn dividends because of how you are perceived by clients and prospects.

My Best,

Jeff Collins
Professional Haberdasher
www.MyHaberdasher.com