Everyone Looks Good in the Black: Retailers in the Economic Rebound
February 18 2015 - 8:30AM
Business Wire
CIT Executives Hold Roundtable Discussion on
Trends and Growth Prospects in the Apparel, Furniture and Consumer
Electronics Sectors
As the economic recovery gains speed, the consumer electronics
and furniture sectors of the retail industry can look forward to
growth in 2015, while the apparel sector faces a more mixed
outlook. These insights and more are shared by three CIT Commercial
Services executives—Marc Heller, Northeast Regional Manager and
International Manager, Mike Hudgens, Southeast Regional Manager,
and Mitch Cohen, Western Regional Manager—in “Everyone Looks Good
in the Black: Retailers in the Economic Rebound”
(cit.com/roundtable), the latest piece of market intelligence in
the CIT Executive Insights series (cit.com/executiveinsights).
During this roundtable discussion, each executive offers their
views on the top trends they see ahead in various sectors of the
retail market:
Marc Heller – Apparel
- It’s a mixed bag in the apparel sector
– retail sales for the holiday season in most cases were good, but
the teen and luxury markets face challenges
- The power of brands remains paramount,
while the greatest growth opportunities are e-commerce and
international expansion
- In 2015, expect to see fewer retailers
and more consolidation among vendors
Mike Hudgens – Furniture
- Furniture sector is looking forward to
what could be one of the best years in a long time, especially in
the Southeast and Southwest
- Younger consumers want instant
gratification, so retailers are focused on inventory and rapid
delivery
- Growth potential is seen in hospitality
and institutional areas as Baby Boomers age and travel
Mitch Cohen – Consumer Electronics
- Sector is very healthy right now –
recent Consumer Electronics Show remains one of the largest
tradeshows in Las Vegas
- More consumers are using the Internet
in addition to going to retail stores; brick-and-mortar locations
have become more of a showroom
- Cautious optimism for the sector in
2015, with continued growth expected for the year
To read more from each executive, visit cit.com/roundtable. For
additional insights and perspectives from CIT executives on the
industries they support, visit cit.com/viewfromthemiddle.
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About CIT Commercial Services
CIT Commercial Services is one of the nation’s leading providers
of factoring and financing to consumer product companies. It
tailors business credit solutions that help companies
increase sales, improve cash flow, reduce operating expenses and
eliminate customer credit losses. Its clients are vendors that sell
to a broad range of public and private retailers, wholesalers and
distributors across the nation and abroad.
cit.com/commercialservices
About CIT Bank
Founded in 2000, CIT Bank (Member FDIC, Equal Housing Lender) is
the U.S. commercial bank subsidiary of CIT Group
Inc. (NYSE:CIT). It provides lending and leasing to the small
business, middle market and transportation sectors. CIT Bank
(BankOnCIT.com) offers a variety of savings options designed to
help customers achieve their financial goals. As of December 31,
2014, it had approximately $16 billion of deposits and more than
$21 billion of assets. cit.com/CITBank
About CIT
Founded in 1908, CIT (NYSE:CIT) is a financial holding company
with more than $35 billion in financing and leasing assets. It
provides financing, leasing and advisory services to its clients
and their customers across more than 30 industries. CIT maintains
leadership positions in middle market lending, factoring, retail
and equipment finance, as well as aerospace, equipment and rail
leasing. CIT’s U.S. bank subsidiary CIT Bank (Member FDIC),
BankOnCIT.com, offers a variety of savings options designed to help
customers achieve their financial goals. cit.com
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