The global apparel industry experienced a 34% drop in company filings mentions of Covid-19 in Q3 2022 compared with the previous quarter, with the highest share accounted for by NIKE with 13% year-on-year decrease, according to GlobalData’s analysis of over 76 apparel company filings.
Notably, Covid-19 was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of artificial intelligence and environment, according to GlobalData.
Of the 50 leading companies in the apparel industry, NIKE had the greatest increase in references for Covid-19 in Q3 2022, compared with the previous quarter. GlobalData identified 41 Covid-19-related sentences in the company's filings - 54% of all sentences - and an increase of 41% in Q3 2022 compared with Q2 2022. Lululemon Athletica’s mentions of Covid-19 dropped by 17% to 33 and VF’s by 75% to 22.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for Covid-19 in Q3 2022 was 153.