A recent report by Morgan Stanley focused on apparel discounting and gross margins for the month of November. The study used pricing data collected weekly on thousands of apparel items.

Discounting
Morgan Stanley’s AlphaWise Apparel Discounting Index indicates that apparel discounting for November was nearly identical to the discounting seen in November 2013. During the first half of 2014, apparel was more heavily discounted than last year. That year-over-year gap has since closed, and discounting trends are now closely aligned with last year’s.

Margins
Apparel gross margins for the period are in line with last year. Margins appear to be trending upward going into the holiday season, and the year-over-year margin environment seems to be improving.

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