WWD List: 15 Fashion Companies Spending More in 2018

Reinvention isn’t cheap — but fashion can’t afford to stay the same.
After a lean year in 2017, when many retailers hit what might have been rock bottom and closed thousands of stores, longer-term spending plans are up at most of the large U.S. apparel companies.
A WWD list of 15 retailers and brands boosting their capital expenditures this year showed an overall increase of 18 percent. Leading the list with breakaway spending were Michael Kors Holdings and Ralph Lauren Corp., with plans for respective increases of 108 percent and 70 percent this year. (Not everyone is feeling so flush: J.C. Penney Co. Inc., for instance, cut its planned capital expenditures this year to $375 million, down from $395 million in 2017.)
Capital expenditures are planned in advance and reflect longer-term spending on property, equipment and other tangible assets. Public companies detail their planned expenditures for the year ahead in regulatory filings, and where the money goes often says much about where they see their future.
Plans for this year were laid in late 2017 as business started to finally pick up with fall spending gains that flowed into the Christmas rush and extended into the first quarter.
“The capex spend is a reflection of the

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