Taking a look at the week ahead for the footwear and apparel industry, here is news editor Joe Ayling’s snapshot of just-style’s latest news and insights agenda.
Nike shareholders will meet this week ahead of the company’s first quarter sales announcement on Thursday. One of its main UK stockists, JD Sports, will be releasing its interim update this week too.
The sportswear firms will tally up the effect of June’s FIFA World Cup, and hope that rising sourcing costs are soon offset by a pre-Christmas run and the threat of higher VAT in 2011.
In June, Nike reported a full-year net profit of US$1.9bn, up 28% on last year. Its full-year revenues in North America fell 1%, Western Europe was down 6%, Central and Eastern Europe slumped 16%, Japan declined 5% and Greater China was flat.
The company will hope to turn around its domestic fortunes, and in July appointed a new vice president and general manager of Greater China. Also that month, Nike defused a row over sub-contractor worker rights by signing a wide-ranging agreement with union officials in Honduras.
Models for top British brands including Topshop, Burberry and Paul Smith will be walking the catwalks of London Fashion Week until Friday.
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By GlobalDataThe high street is looking to maximise exposure during a tough trading environment, with Topshop, for instance, streaming shows from the TS show space – a converted platform at the old Eurostar terminal at Waterloo station.
Clothing brands will be keeping a close eye on developments in Cambodia this week too, where a four-day strike drew to a close last week.
Today (20 September), a statement by the The Garment Manufacturers Association in Cambodia (GMAC) said that less than 20,000 workers from 30 factories took part in the strikes – far less than originally feared.
Further news and analysis on the Cambodian strikes will follow on just-style this week.
