Companies Raise Prices as Commodity Costs Jump

Companies Raise Prices as Commodity Costs Jump

By Donal on Tue, 02/15/2011 - 6:54am |

“There are cost pressures from virtually everywhere,” said Wesley R. Card, the chief executive of the Jones Group, whose brands include Nine West and Anne Klein. After trying to keep retail prices flat or even lower during the recession, Jones says prices for its brands will climb 15 to 20 percent by autumn.

When commodity prices started to rise last summer, many manufacturers and retailers absorbed the costs, worried that shoppers would not pay higher prices during the competitive holiday season or while the economy was still fragile.

Many big companies, including Kraft, Polo Ralph Lauren and Hanes, say they cannot hold off any longer and must raise prices to protect some profits.

URL:

http://www.nytimes.com/2011/02/15/business/15prices.html?hp