Daily apparel and textile news - from just-style.com
Updated: 40 min 31 sec ago
US: Saks Q1 profit slumps 37.8% but sales rise
Luxury retailer Saks has today (21 May) posted a 37.8% decline in first-quarter net profit after it was weighed down by store closing costs and debt-extinguishment losses.
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US: Investors take a stand on Bangladesh safety deal
Institutional investors and shareholders with more than $2.5 trillion in assets under management are adding pressure to retailers sourcing clothing from Bangladesh to implement a number of reforms, including signing up to the new Accord on Fire and Building Safety.
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US: Dick's Sporting Goods Q1 profit rises 13.4%
Sportswear retailer Dick's Sporting Goods has today (21 May) reported a 13.4% jump in first-quarter net profit despite lower-than-expected sales growth.
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CANADA: L Brands to move La Senza DC to Ohio
L Brands, the new, temporary name for Limited Brands, is to relocate its La Senza distribution centre operations from Montreal, Canada to its Columbus, Ohio base in the US to "better meet customer demand" worldwide.
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UK: Barbour announces two senior appointments
Global lifestyle brand Barbour has announced two senior management appointments as it continues to expand in the UK.
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EUROPE: Product safety alerts led by clothing
Clothing items were among the most potentially dangerous consumer products entering the European Union (EU) last year according to new figures on product safety enforcement.
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US: K-Swiss acquires OTZ Shoes
E-Land and K-Swiss have acquired California-based comfort footwear brand OTZ Shoes, their first deal since merging at the end of last month.
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US: Activewear outpaces total kids' apparel market
Activewear is the fastest-growing sector of the kids' apparel market, with double-digit sales gains seen in the year to March, new research suggests.
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SWITZERLAND: Richemont fashion boss Wikstrom resigns
Swiss luxury goods company Richemont has announced the resignation of Marty Wikstrom, the chief executive officer of its fashion and accessories business.
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UK: Burberry posts double-digit FY profit growth
Luxury goods business Burberry has today (21 May) booked a 14% rise in full-year profit, bolstered by increased demand in China and Hong Kong and overseas store growth.
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UK: General merchandise weighs on M&S FY profit
Retailer Marks & Spencer today (21 May) reported a 6.5% drop in annual group profits as higher operating costs and poor sales of general merchandise - which includes clothing and footwear - continued to weigh on its performance.
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FRANCE: LVMH rejects regulator findings over Hermès stake
LVMH says it "vigorously contests" the conclusions of a leaked report by France's financial markets regulator that it carefully prepared, over several years, an increase in its shareholding in luxury fashion goods rival Hermès.
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US: Waitt Company acquires Bobby Jones brand
Bobby Jones Omaha-based investment firm Waitt Company has reached an agreement to acquire all operating assets of the Bobby Jones brand from W-Diamond Group Corporation.
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FRANCE: Clariant achieves eco-friendly denim-look knits
Specialty textile chemicals supplier Clariant has teamed up with machine builder Tonello to develop an exhaust dyeing process that gives a 'blue jeans look' to items such as knitted garments.
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US: Kellwood explores sale of Zobha yoga brand
Clothing giant Kellwood Company is exploring new ownership and investment opportunities for its high performance yoga and fitness apparel business, Zobha, two years after buying the brand.
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US: Body shape measurement rolls out to healthcare
3D body scanners and software typically used to make better-fitting clothes are being rolled out to the healthcare sector where they will measure the body for obesity and for clinical diagnosis.
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US: Retailers seek Bangladesh commitment to worker safety
Apparel retailers and brands in the US and Canada are calling for assurances from the Bangladesh government that it is committed to worker safety issues in the country's garment factories.
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UK: Tesco plots overseas expansion for F&F
Supermarket retailer Tesco is to expand its F&F clothing brand into new markets across the Middle East and Central Asia, with plans to open more than 50 franchise stores over the next five years.
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INDIA: Uttar Pradesh seeks textile and clothing export boost
The chief minister of Uttar Pradesh state in India, Akhilesh Yadav, has told just-style that his government wants to spur future expansion in clothing and textiles through major infrastructure investments.
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CHINA: China Xiniya Fashion Q1 profit falls 23.1%
Men's casual apparel business China Xiniya Fashion has reported a 23.1% decline in first-quarter net profit due to weaker demand in its domestic market.
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