- The apparel and textile business blog -
Leonie Barrie's unique web log on the global Apparel and textile industry, key events, people and her own daily experiences. If you would like to offer your comments, opinions, suggest topics or just have a good rant, please feel free to email: Leonie Barrie. |
Page number: 1 of 63 ( 624 records)
Macy's on the mend?
16th May 2008 17:50
On top of all the general economic worries it’s facing in line with the rest of its competitors, Macy’s Inc has another challenge on its hands: trying to lure back customers alienated by an ill-fated plan to integrate the May Department Stores chain it acquired in 2005.
While now may not be the best time to be trying to engineer a turnaround, Macy’s seems to be faring slightly better than its department store rivals. Or is it?
The retailer might have posted a US$59m loss in the first quarter, but its results were better-than-expected, same-store sales were up, the company appears to be capturing market share, and it even reaffirmed full-year guidance.
But some still believe the restructuring isn’t all it's cracked up to be. The ‘My Macy’s’ campaign to tailor merchandise to reflect the demands of local markets in the US is widely seen as the right way forward, but does the retailer have the ability to deliver on its promise? Are being big and unique at the same time a contradiction in terms? And does the organisation really have the capability to realise the benefits?
Macy’s firm on FY outlook despite $59m Q1 loss
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Wal-Mart worries
15th May 2008 11:23
Wal-Mart seems to be in its element right now, luring budget-conscious consumers with its promise of low price value. First quarter profit rose 6.9% to $3.02bn, with sales up 10.3% to $95.3bn, as shoppers flocked through its doors to buy basics like groceries and pharmacy items.
Crucially, though, once they’re under its roof, shopping trolleys at the ready, customers also stop to buy items other than just those they need – and this is what’s helping the world's largest retailer and discounter to buck the general retail trend.
But not only is Wal-Mart benefiting from budget-conscious shoppers trading down: international growth in markets such as Brazil and China has offset slower sales in the US, and tight inventory control has reduced the need for promotions.
“Customers everywhere are concerned about the rising energy costs, food inflation, home values and a number of other factors tied to the global economy,” said Wal-Mart president and chief executive officer H Lee Scott Jr. “Wal-Mart customers value our price leadership more than ever, especially as they try to stretch their money further.”
So far so good. But the one cloud looming on the company’s horizon is whether or not it will be able to grow over the long term.
For the second quarter the company expects same-store sales to range from flat to up 2.0% and earning of between $0.78 and $0.81 per share – so could well be below the $0.81 analysts are hoping for.
US: Global growth pushes Wal-Mart Q1 profit up 6.9%
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Trekkies revel at new civil gown
14th May 2008 16:24
The introduction of a simplified civil gown for UK court judges has drawn interest from an unexpected audience - Star Trek Fans.
Fashion designer Betty Jackson CBE was design consultant for the new gown, which arises from reforms to court dress announced last July.
Amazingly, dedicated websites like Trek Nation, are likening the gown's design to Captain Picard's outfit in "Next Generation", only without the pockets.
The new civil gown replaces wigs, wing collars and bands for Court of Appeal and High Court judges sitting in open court in civil and family proceedings from October.
Circuit Judges sitting as deputy High Court judges will also wear the new gown, but the remainder of the Circuit Bench have opted to stick with their current gown and tippet (less the wig, wing collar and bands).
Perhaps they're hanging on for the Deep Space Nine and Voyager replicas...
Joe Ayling, news editor.
See the new civil gown for yourself
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Canada’s Olympic dispute
12th May 2008 15:33
A row of Olympic proportions has broken out in Canada after it was revealed that the uniforms worn by athletes at this summer’s Beijing Games will be made in China.
Apparently Hudson's Bay Company, official outfitter of Canada’s Olympians, decided to outsource 80% of production to China as most of specified the eco-friendly bamboo, cocona and organic cotton fabrics are available only in Asia.
Chris Rudge, CEO of the Canadian Olympic Committee, has also waded into the dispute after pointing out that Canada doesn’t have the necessary manufacturing capacity – particularly for the all-important replica clothing volumes.
And what about price? Well nobody’s mentioning that, but it must surely be at the heart of the matter.
The irony is that China’s cheap exports are largely seen as responsible for decimating the domestic trade. And rubbing salt into the wounds is the inference that Canada’s textile workers can’t be entrusted to make its athletes' apparel.
“Canada employs several tens of thousands of textile workers,” argues Robert Bouvier, president of Teamsters Canada, while Karen Pottle, co-chair of the Apparel Human Resources Council, said: “We have thousands of workers who are waiting for this opportunity.”
Sourcing decisions that involve a measure of national pride are bound to be controversial – especially when they buck the obvious route. But surely it’s logical that Canadian athletes should be wearing apparel produced by and for Canadians. I wonder how many other countries are going to be embroiled in a similar row?
Canada's Olympians to wear clothing from China
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April sales as good as it gets?
9th May 2008 16:38
There was a mix of good news and bad news for retailers in April after many sales reports bucked recent downward trends – as expected – but analysts warned not to get their hopes up.
The good news was that following a dire March, when an early Easter and unseasonably cold weather helped keep consumers away from stores, April was a definite improvement. Warmer weather helped encourage purchases of spring and summer fashions, as did seep discounting to help shift merchandise.
The bad news, however, is that most consumers are still sticking to bargains or basics, as they contend with rising gas and food prices and the ongoing housing downturn. But while this is benefiting discount retailers such as Wal-Mart Stores, department stores and mall-based apparel specialists are suffering heavy losses.
Some analysts are now suggesting that April might be as good as it gets for many retailers this year, and that while cash-strapped consumers continue to seek out bargains, weak to slow growth may be the best they can expect.
US: Retailers' April 2008 sales roundup
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Jane Shepherdson takes Oxfam upmarket
8th May 2008 17:36
UK charity Oxfam is adding to its portfolio of second hand shops on the high street with the launch of Oxfam Boutiques - a move sure to pull on both purse strings and heart strings.
The initiative, guided by ex-Topshop brand director Jane Shepherdson, starts with the opening of its first boutique on Saturday (10 April) in Westbourne Grove, London. Two more London boutiques will follow, in Shawfield St, Chelsea and Chiswick High Road.
Oxfam will immediately sell seven reworked pieces by up-and-coming sustainable fashion designers, through a live auction on Ebay starting today and lasting ten days.
The charity's boutiques will sell a mixture of high quality donated items, Fair Trade Fashion, designer donations, home-made accessories and organic labels, Oxfam says.
It could be a pioneering move by the charity, which already has a reputation for selling retro and trendy second-hand clothing.
Furthermore, by taking the lead in sustainable fashion, Oxfam could help bridge the monumental gap between fast fashion and garment recycling at large in the UK.
Shepherdson, who earlier in the year struck a deal with Baugur to purchase fashion brand Whistles, is widely credited with having revolutionised buoyant UK high street chain Topshop during her time there.
She says: "These boutiques are all about creating a great shopping experience. Oxfam has always been a place where stylish people hunt for interesting items to create their look, the boutiques are set to make that even easier."
By Joe Ayling, news editor.
The Oxfam Boutique's online store
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Vietnam a political chit?
7th May 2008 14:36
US retailers and importers point out that “not a single US apparel producer has asked for the monitoring program” which is checking imports from Vietnam as a precursor to a possible anti-dumping investigation.
Indeed, in its report on the Vietnam import data, the US Department of Commerce noted that in the six months during which nearly 500 tariff lines were reviewed, there was no trade at all from Vietnam in more than 200 of them.
And of the remaining tariff lines, many had rising unit values – which indicates that prices from Vietnam have increased since it joined the World Trade Organization in
January of 2007, and are above those of many other suppliers to the US market.
The fear now is that the final review – the results of which are due to be announced in autumn 2008 – will become embroiled in the Presidential and Congressional campaigns and won’t necessarily vindicate manufacturers in Vietnam.
US: No evidence for Vietnam anti-dumping probe
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Reebok still tripping up Adidas
6th May 2008 16:00
Three years after it bought Reebok, Adidas is still trying to reposition the brand. How long, I wonder, until its patience wears thin?
The sporting goods group today said profits rose 31.5% to EUR169m, with sales up 3% on a currency-adjusted basis to EUR2.621bn. But this rise – which prompted chief executive Herbert Hainer to say “We are off to a fast start to 2008” – was led by demand for Adidas goods and TaylorMade golf equipment.
On the Reebok front, sales fell 6% in the quarter and, more alarmingly, order backlogs – a measure of future sales – were down 13% year-on-year.
And while Adidas is looking forward to a boost from this year’s Olympic Games and Euro 2008 soccer championships, the Reebok division appears vulnerable to the slowdown in US consumer spending.
There is some consolation from the Reebok purchase though: the acquisition has helped Adidas negotiate cheaper prices from suppliers.
Adidas Q1 profit climbs despite Reebok slump
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Vote for your favourite just-style article
2nd May 2008 16:21
Today (2 May) marks the return of the polling system on just-style, something that long-term subscribers will be all too familiar with.
To exercise your preference of this week's news and feature articles on the site, simply follow the link given below and vote.
The options arise from our weekly collaboration of most read industry stories.
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Iconix brands in China
1st May 2008 11:59
Today's move by Iconix Brand Group to set up a Chinese joint venture is an astute one on many levels.
China might already be saturated with luxury brands, but Iconix and its partner, Hong Kong based Novel Fashion Holdings, are hoping to tap in to perhaps the most lucrative void in this exciting market – brands that serve the country’s new emerging middle class.
They're looking as at many as seven hundred million middle class consumers in the near future, a mind-boggling number by anyone’s standards. And these people are apparently all searching for individual, genuine, authentic brands they will have seen or heard about in the West.
When it comes to brands, Iconix has them by the bucketload. Candie's, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific, Danskin and Roca Wear are just some on the labels in its line-up.
But not only does Iconix have a world class portfolio of brands it also has an interesting business model that should help them realise their full potential. Iconix China says it will identify local operating companies with the potential to go public, provide them with one of the Iconix brands as well as marketing and brand management support, in exchange for an equity stake.
Iconix yesterday posted a 43% hike in first quarter profit – which suggests it must be doing something right in the already saturated markets it currently operates in. It’ll be interesting to see whether the Chinese are as hungry for its brands as it hopes.
US: Iconix in Chinese joint venture as Q1 profit soars 43%
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