Penney's CEO: Cotton costs to boost apparel prices

04/20/2011 | American City Business Journals

Higher cotton prices are a major concern for apparel retailers, who are likely to increase clothing prices anywhere from 5% to 20% after holding steady for about two decades, J.C. Penney CEO Myron "Mike" Ullman said in a panel discussion Wednesday. With fuel and food costs also on the rise, higher clothing prices may make it tough to keep consumers spending, he said.

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