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December 1, 2009
The McPete Sez Lingerie Newsletter & Women's
Indian Government Rejects
Cotton Export Ban
The Indian government rejected local industry calls to ban cotton
exports to try to stabilize yarn and fabric prices, saying there are sufficient cotton stocks in the country.
"The question of banning cotton export doesn't arise at present," said the Minister of State of Textiles, Panabaaka Lakshmi.
He added that while domestic consumption is 26.4m bales of cotton (one bale is equal to 170 kg), production during the 2008-09 cotton
season is 29m bales - which means there is a surplus to export.
However, local firms argue that much of the good quality cotton gets exported to China, Indonesia, Thailand and Bangladesh, while the
domestic industry has to use the leftovers or buy costly imports.
India's garment exporters also say rising cotton prices and fabric costs are forcing many firms to cut production and meet orders at a
According to the Apparel Export Promotion Council (AEPC), the cost of fabric - which constitutes 55% to 60% of export values - has
increased between 23% and 42% in the past month.
India is the world's second largest producer of cotton.
Bill Bassett and Rena Bassett of Romantic Adventures,
the September 2009 Shirley of
Hollywood Grand Prize winners, stand next to Tyran Richards and Eric
Schlobohm at the International Lingerie Show.
Triumph Ends Strike
Lingerie giant Triumph International says operations are getting back
to normal at one of its factories in China after around 3,000 workers went on strike as part of a dispute over bonus payments.
Workers at the Hainan High Fashion Limited (HHF) factory in Haikou City walked out over fears their annual bonuses were being cut.
Triumph confirmed it is currently engaged in a labor dispute with the company's management, but says most workers reported back to
It says it informed workers last year about a new bonus system that would be introduced in 2009, and has since told them in writing that
bonuses will be paid as expected.
As well as worries over bonus cuts, the HHF workers have also raised a number of other issues - which are thought to include lifting wages
to the minimum national level and improving holiday entitlements.
Triumph confirmed the factory's management is also in discussions with employees, the union, and the Hainan Provincial Department of
Labor to try to resolve the situation.
But it says the company's wage rates already ensure all workers "are paid at least the respective minimum legal wage and most are paid
And that it gives more annual leave days than the law requires.
Tia Lyn's NY Fashion Show with beautiful models of ALL SIZES!
Survey Reports Textile Job
Losses Level Off
Textile job losses in the UK are set to slow despite the country's
stunted economic recovery, according to a survey by Clifton Asset Management.
It said that small business owners in the UK textiles industry believe the worst of the recession may be over - but fear that it has
another year or more left to run.
The survey, of more than 1,000 businesses, revealed that 28% of firms have cut jobs over the past six months, down from 34% in the last
According to Clifton, 52% think the UK economy will remain in the doldrums for another 12 months or more, with 12% forecasting it will
be out of recession within six months.
"While our survey suggests that the UK's SMEs believe the recession has bottomed out, any recovery will be slow at a time when they are
bracing themselves for the 'double whammy' of tax increases and public spending cuts," added Anthony Carty, director at Clifton Asset
October Retailer's Sales Review
Abercrombie & Fitch reported net sales of $203.4m for the four-week period, a 5% decrease on last October's $215.0m. Same-store sales were down 15%.
Aeropostale announced that total sales increased 9% in October to $138.8m, from $127.4m last time. The company's same-store sales were up 3% for the month.
American Apparel reported a 6% drop in same-store sales for the month of October - compared with a jump of 22% in the same month last year.
Total sales at American Eagle Outfitters decreased 5% to $195.1m, down from $204.8m last October. Same-store sales fell 5%, it said.
The Bon-Ton Stores announced that comparable store sales for October increased 3.1% compared with the prior year period. Total sales for the four weeks increased 2.5% to $224.0m.
The Buckle said its same-store sales for October were up 4.3%, while net sales jumped 10.5% to $66.6m.
At Cato Corporation, sales were up 4% for the four weeks ended October
31, to $61.9m, from $59.5m a year ago. Same-store sales were flat with the prior year, the women's wear retailer said.
Sales at Destination Maternity Corporation slipped 1.8% to $44.3m from $45.1m a year ago. Same-store sales dropped 5.2%.
Dillard's said its merchandise sales for October were $361.7m, compared to sales of $406m in the prior year month. Total sales dropped 11%.
Gap Inc said its net sales were $1.14bn - a rise of 5% over the prior year's $1.08bn. The company's same-store sales increased 4% compared with a 16% decrease in October 2008.
Hot Topic posted sales down 1.8% for its fiscal month of October, and same-store sales down 2.6%.
J C Penney Company reported a 4.5% fall in comparable store sales for the four-week period. Total sales fell 3.5% to $1.3bn, it said.
Kohl's Corporation posted a 4.9% rise in total sales, while on a same-store basis, sales were up 1.4% in October.
At Limited Brands, same-store sales fell 4% for the four weeks. The company reported net sales of $561.1m, down from $580.4m last year.
Macy's saw its sales fall 1.3% to $1.692bn, down from $1.714bn last year. On a same-store basis, Macy's sales were down 0.8% in October.
Sales at Nordstrom climbed 14.8% to $607m, compared with $529m last time. Same-store sales for the four-weeks to October
31, were up 6.5%, it said.
Ross Stores reported October sales up 14% to $557m from $490m last time. Same-store sales for the month rose 9%.
Saks Incorporated said owned sales totaled $219.8m for the four weeks to
October 31, up 1.8% on last year's $216.0m. Same- store sales for the month increased 0.7%.
Stage Stores reported its total October sales were up 2.9% to $101m. Same-store sales fell 0.1% this year versus a decrease of 8.4% last year.
Target Corporation's net retail sales for October were $4,541m, an increase of 2.8% on last year's $4.4bn. October same-store sales decreased 0.1%.
The TJX Companies, sales rose $1.7bn, up 15% over the four-week period last year.
The Wet Seal reported net sales of $41m in the four-week period, up 1.9%. Same-store sales fell 1.3%.
Zumiez announced total net sales for the four-weeks of October down 1.5% to US$24.7m, compared to $25.0m in the period last year. The company's same-store sales fell 8.9% for the month.
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