Market Buzz& Industry News
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JC Penney to close up to 140 stores amid lower sales
US retail giant JC Penney is to close two distribution facilities and around 130 to 140 stores over the next few months as part of plans to optimise its retail operations and drive profitability as it revealed a fall in fourth-quarter sales.
Bangladesh government steps in over labour crackdown
The Bangladesh government has responded to pressure over its crackdown on labour activists after a number of global brands and retailers pulled out of this week's Dhaka Apparel Summit in protest.
US retailers call for halt to one-day port strike
US retailers are calling for a halt to a planned one-day shutdown of East Coast and Gulf Coast ports in protest over the loss of longshoring jobs and its effect on the economy.
Gildan books sales and profit hike in Q4
Apparel maker Gildan Activewear has booked a rise in both earnings and revenue in its fourth-quarter, thanks to growing sales in its printwear and branded apparel businesses.
Hudson's Bay reveals Q4 sales slip amid new efficiency initiative
Canadian retailer Hudson's Bay Company (HBC) booked lower sales in its fourth-quarter and revealed further details on its operational review, designed to streamline its business.
Coats moves to FY profit as restructuring pays off
Industrial thread maker Coats has delivered what it says was a strong performance last year as it moved to a profit thanks to a substantial decline in one-off charges and a restructuring of its craft and textiles business a year earlier.
Gap books "modest" Q4 gain but FY profit tumbles
US speciality clothing retailer Gap Inc has posted what one analyst calls a "modest" gain in its fourth-quarter but failed to boost earnings for the full year, booking a double-digit decline for fiscal 2016.
US Q4 in brief - Foot Locker, Nordstrom, Carter's, Kohl's
In the most recent fourth-quarter filings from US apparel and footwear brands and retailers, Carter's booked a record quarter, VF Corporation revealed a fall in both sales and earnings for the fourth quarter, while Kate Spade says it is exploring its options as it revealed higher sales and earnings. Meanwhile, Walmart booked lower earnings on the back of lower international sales and investment...
American & Efird develops reflective thread
Industrial sewing and embroidery thread major American & Efird (A&E) has developed an industrial sewing thread designed and engineered for reflective visibility.
John Lewis puts over 700 jobs under review
UK department store retailer John Lewis says it is reviewing more than 700 jobs as part of plans to restructure some of its in-store business.
Top stories this week on just-style...
Top stories this week on just-style include a look at how the crackdown on Bangladesh labour activists has cost the country's garment industry around US$100m, Adidas and Burberry have been recognised for their sustainability practices, industry executives in Turkey are optimistic that better times lie ahead, and Inditex and H&M boycott the BGMEA's Dhaka Apparel Summit.
Gerry Weber warns of "difficult" year ahead as profits slump
US fashion house Gerry Weber has warned of a difficult and challenging year ahead as it revealed lower earnings in its last fiscal weighed down by charges related to its realignment programme.
Bangladesh calls for duty-free access to US and Brazil
The Bangladesh apparel industry is calling for duty-free access to the US for its ready made garments manufactured from cotton imported from America.
Inditex and H&M among those boycotting Dhaka garment summit
A cohort of leading apparel companies, including Spanish clothing giant Inditex, have withdrawn from the Dhaka Apparel Summit, organised by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Delta Galil Industries Q4 earnings and sales soar
Israel-based lingerie, underwear and activewear manufacturer Delta Galil Industries saw both sales and earnings increase in its fourth-quarter thanks to the success of a number of growth initiatives.
UK organic textiles market growing
The UK's interest in organic textiles is growing, new figures show, as consumer interest in ethically and sustainably sourced materials increases.
Carter's snaps up lifestyle brand Skip Hop Holdings
Children's wear company Carter's has acquired global lifestyle brand Skip Hop Holdings in a deal worth around US$140m.
Researchers call for highly fluorinated chemical regulation
Researchers from Sweden, Switzerland, and the US are calling for regulation of the entire class of highly fluorinated chemicals, some of which are used to provide water-repellancy and stain-resistancy in apparel, over fears exposure to them can cause harm.
Billabong to sell Tigerlily for AUD60m
Australian surfwear company Billabong International has revealed plans to sell its Tigerlily swimwear brand for AUD$60m (US$46.1m).
Lectra supply chain programme protects data
Technology specialist Lectra has unveiled a new supply chain programme, designed to control the chain of data between brands, retailers and suppliers, and reduce time to market.