Wal-Mart apparel turnaround efforts gain traction
Wal-Mart has revealed that efforts to turn around its apparel business are finally starting to gain traction, with the US retail giant reporting the first full-year of positive comparable apparel sales for seven years.
Wal-Mart has revealed that its efforts to turn around its apparel business is starting to gain traction after reporting its first full-year of positive comparable apparel sales in the US in seven years.
The UK-based George at Asda clothing brand remains committed to sourcing in Bangladesh, even though at least 112 workers were killed in a factory fire last year while illegally subcontracted to produce clothing for parent company Wal-Mart.
Wal-Mart has recorded an increase in fourth-quarter profit as sales grew and the company benefited from a lower than expected tax rate.
Wal-Mart's UK-based George clothing brand is set to have a presence in 24 countries by the end of September, driven primarily through online expansion.
Updated sourcing guidelines released this week by Wal-Mart have received a tepid reception at best, with industry watchers warning they are sceptical as to whether the new rules will be fully enforced.
Retail giant Wal-Mart is to enforce a “zero tolerance” policy on unauthorised sub-contracting with suppliers, in a bid to improve safety standards following the Tazreen fire.
- Synergies Worldwide CEO unravels sourcing shifts
- Bangladesh still needs reforms to fix factories
- Rana Plaza three years on – Timeline of change
- First figures show Bangladesh exports climb
- Why have US FTA imports fallen to a record low?
- Hanesbrands to buy Pacific Brands for $800m
- BHS lacks relevance as it files for administration
- US Q1 in brief: Carter's, Columbia Sportswear, Ske
- Improving traceability a key industry challenge
- Aeropostale delisted from New York Stock Exchange