Retail fiscal year ends on a high note


Americans are investing in their wardrobes again.

As the retail fiscal year ends this weekend, experts believe it will show apparel sales climbing back to healthier levels.

If so, it will be good riddance to the great retail apocalypse of 2017.

A strong holiday season, in which sales rose 4.9 percent — the largest year-over-year increase since 2011, according to MasterCard — continued into January.

We believe apparel is making a comeback,” said Craig Johnson, chief executive of Customer Growth Partners, which estimates that apparel sales will increase by more than 3 percent in three months ending Feb. 3 — up from about 2.5 percent a year ago.

More than 70 percent of companies that reported holiday sales beat Wall Street’s expectations on comparable sales, said Nomura/Instinet analyst Simeon Siegel.

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