Retailers Fret Over Rising Apparel Costs Amid Increasing Commodity, Labor Prices in China
Clothing maker Perry Ellis International sees a 10 percent rise in industrywide apparel prices over the next two years amid rising commodity prices and higher labor costs in China. "Prices have to go up at some point. The American consumer will have to pay higher prices... It's only apparel and electronics, the items that keep coming down, everything else in life has come up," Chief Executive George Feldenkreis told the Reuters Consumer and Retail Summit in New York.