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International cotton prices for July delivery fell to a low
of 77.16 cents a pound last week after a US government
report forecast record inventories for the second season in
a row. While prices rebounded, they are still sitting at
around one-third of the cotton price peak reached in March
Data from the US Department of Agriculture (USDA)
suggested ending stocks would rise 10% to 73.75m bales in
the 2012/13 season, which begins on 1 August.
Inter-governmental group the International Cotton Advisory
Council (ICAC) also said the projected accumulation of
cotton stocks in China will weigh on international cotton
prices in 2012/13 - but the extent of this downward pressure
will largely depend on how the Chinese national reserve is
US: Cotton prices fall on record world stock forecast
WORLD: Record Chinese imports to boost cotton trade
CHINA: Cotton imports near record high in March
Supermarket fashion brand George at Asda, a unit of retail
giant Wal-Mart Stores, is working to “dial up” its fashion
credentials this year with shorter lead times following its
acquisition of the sourcing arm of its Turkish supplier
GAAT. The retailer has already cut its lead times to six to
eight weeks, but hopes to speed this to four.
George dials up fashion credentials with shorter lead times
And Sainsbury's says its clothing business is growing
faster than its food business and “continues to gain market
share,” helped by store expansions and the addition of more
non-food lines. The retailer's Tu brand is the UK's
seventh-largest clothing brand by volume, and sixth for
children's wear. The comments came as the UK's third largest
grocer reported a 7.1% increase in annual underlying profits
to reach GBP712m (US$1.15bn).
In the money: Sainsbury's GM expansion boosts clothing sales
A call for collaboration between retailers and their
suppliers has come from Henry Tan, the CEO of Hong Kong's
largest listed garment firm Luen Thai Holdings. Speaking
with just-style managing editor Leonie Barrie at the recent
Prime Source Forum in Hong Kong, he also discussed the push
into new production bases and the changing role of China.
Speaking with style: Henry Tan, CEO, Luen Thai Holdings (Part I)
Speaking with style: Henry Tan, CEO, Luen Thai Holdings (Part II)
And signs are emerging that Mexico's textile and apparel
industry is reclaiming a growing proportion of the US market
as it benefits from an increasing focus on higher-value
products and greater diversification.
Mexico clawing back role as key US clothing supplier
Until next time...