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.
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