Dear purses no longer the totes on the town

There's a handbag surplus in the US.

Years of strong sales avantages of the must-have accessory invited builders to flood the market with $200-to-$400 handbags — but women's relationship with the go-everywhere totes is starting to cool off, industry insiders and offers figures reveal.

The cooling off of this occurence torrid handbag love affair was away this week when Michael Kors mentioned a 5. 8 percent become less popular in first quarter same-store offers.

In addition , Coach and Kate Spade reported slower sales gains during the quarter.

"There's been a surplus in the handbag space for a christmas now, especially in the $200-to-$400 price range, what is the sweet spot for a lot of name, " said Maxim Group expert Rick Snyder.

Sales for handbag and totes in the US during the 1 year ended April 2015 were rise just 1 percent, to $7. on the lookout for billion, according to NPD Group.

The particular Kors sales decline was some first since it went public this year. Kate Spade reported sales regarding 9 percent in the first ground, compared to 22 percent growth during the same period a year ago.

"A bigger portion of Kate's sales are handbag, " said Nomura analyst Simeon Siegel.

"It's not clear whether patients spending their money on other things as well as if this category is getting tired, " he added.

Macy's was "up against some major handbag ristournes in the first quarter, " the type of retailer's chief financial officer, Karen Hoguet, said during its first-quarter earnings call. "It's kind of challenging to read what is happening there. "

Simultaneously, management at Kors and Coach factory outlet said that bags sales industry-wide having North America have slowed to the "low single digits, " with Kors CEO John Idol adding, "I don't see anything that's heading wildly accelerate that. "

When the handbag glut is causing hurting for the designers, it can be a good thing to consumers.

At Nordstrom on Saturday, there were plenty of Tory Burch, Kate Spade, Marc Jacobs iPad cover, Dooney or Bourke and Michael Kors handbag priced at 33 percent off — and better.

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