Top stories on just-style this week include a look at how the potential for additional tariffs on US apparel and footwear imports from China poses a threat to retail profitability, Arcadia Group has unveiled a rescue plan that will see the closure of 23 stores, and Kontoor Brands begins trading as an independent company following its spinoff from VF Corporation.
Tariffs and input costs threaten US apparel outlook
Broad-based growth is expected to continue for the US apparel and footwear retail sector in 2019 – but the potential for additional tariffs on imports from China poses a significant threat to company profitability, according to new research.
Major brands urge Trump to pull footwear from tariff list
A coalition of 173 US footwear brands, including Nike and Adidas, is urging US President Donald Trump to remove footwear from the proposed tariffs list on goods imported from China, saying it would be “catastrophic” for companies, consumers and the American economy as a whole.
Arcadia Group CVA to close 23 stores – but is it enough?
Retailer Arcadia Group, owner of the Topshop, Topman, Miss Selfridge, Burton and Dorothy Perkins chains, has today (23 May) announced plans for a company voluntary arrangement (CVA) that will see the company shutter 23 of its stores in the UK and Ireland.
Bangladesh Accord granted transition period
An agreement between the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Accord on Fire and Building Safety in the country has finally been struck in a move that paves the way for the Accord to continue its operations for a transition period of 281 days.
Kontoor Brands begins trading following VF spinoff
Kontoor Brands has completed its separation from VF Corporation and is now a global, independent, publicly traded company that will trading today (23 May) on the New York Stock Exchange.