This week, for the first time in about ten years, I had to buy a suit. I only need to wear a suit a few times a year, and I had been living off the inventory I collected during my investment banking days. That inventory finally ran out, so back to the menswear store I went.
(Incidentally, the new suit today, in 2009, cost less than a new suit of similar style and materials ten years ago even though it had to be special ordered.)
While at the store, I happened to chat with the owner and asked him how business was doing. His response: January and February were brutal, but things seem to be picking up just a little now. (They did have some deep discount items, but it was end-of-season stuff like sweaters.)
High end men's clothing is a very discretionary item, so when that starts to tick up, it means that some people are finding the money to update their wardrobe, or that they can't defer it any longer.