Mickey Drexler 1.9 3 ideas

Drexler notes that current fashion merchandise is "boring" and lacks emotion. However, he explicitly calls out discounters like Walmart, Burlington, and Ross as "formidable." In an environment where consumers are squeezed by gas prices and unimpressed by full-price fashion innovation, they trade down to off-price and discount retailers who offer value. Long discounters as they capture market share from struggling mall brands. Supply chain disruptions from the Middle East conflict increasing freight costs for importers.