Apparel retailers and department stores are bumping up against pockets of price resistance, a sign that consumers are curtailing spending as inflation remains at the highest level in four decades.
Macy’s Inc.
tried to raise prices on some mattresses and sofas by $100, but shoppers pushed back, Chief Executive
Jeff Gennette
said. Clothing brand Bella Dahl raised prices on its T-shirts by about $20, then sales fell and the company rolled back the price increase. “There was a revolt,” said
Steven Millman,
its chief brand officer. “If we go any higher, we’ll do half the sales.”
With inflation at a 40-year high, companies across the spectrum have been charging more to offset rising costs with little resistance from consumers. That trend is starting to…
