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US & Peru Sign Free Trade Agreement
NRF Projects Retail Recovery
China's Stimulus Package
Eco Friendly Foam
Triumph Expands in India
Pacific Sunwear Cuts Jobs
Australia's Underwear Sales Soar
Hanesbrands' FY Earnings Up
Lingerie Bowl Canceled - Again
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February 1, 2009
US & Peru Sign Free Trade
Trade between the US and Peru is likely to rise after the US/Peru Trade Promotion Agreement was signed into
The trade pact, which came into force on February 1, will allow US yarn and fabric makers to export their
goods (under 'yarn-forward' rules of origin) to Peruvian manufacturers who will then be able to sell
apparel duty free to the US.
A statement from US Trade Representative Susan C Schwab said the agreement will eliminate duties on some 80% of
US industrial exports
"For the first time in history, American exporters will be able to sell the vast majority of their products
into the Peruvian market duty-free," she said.
For Peru, the agreement makes the temporary trade preferences available under the Andean Trade Preference
NRF Projects Retail Recovery
The US National Retail Federation is projecting that retail industry sales in 2009 will decrease 0.5%
compared to last year, buoyed by a recovery in the final quarter.
The NRF said it sees more challenges ahead as consumers continue to shift their spending priorities.
However, by the fourth quarter of this year NRF expects sales to improve 3.6% due to easy comparisons to last
year and an anticipated strengthening of the US economy.
"Most of the consumer behavior we saw in 2008 will continue well into this year," said NRF chief economist
Rosalind Wells. "Shoppers will be seeking value and trading down to discount and off-price retailers in
order to stretch their purchasing power."
The first half of the year will see a continuation of the weakness that was felt in most of 2008, the NRF
First half 2009 sales are expected to decline 2.5%, but there will be some improvement in the third quarter
with sales decreasing 1.1%, it predicts.
Tia Lyn's NY Fashion Show with beautiful models of ALL SIZES!
Green In Demand During
Shoppers around the world are more likely to buy environmentally friendly products during the economic
downturn, a new report says, which will be reassuring to companies that have invested heavily in green
According to research published by The Boston Consulting Group (BCG) in its report 'Capturing the
Green Advantage for Consumer Companies,' more shoppers systematically purchased green products in 2008 than in
In a survey of 9,000 adults in nine countries, some 34% of Europeans (up 2% from 2007) said they would continue
to look for and purchase green products, while 32% of US consumers said the same.
In Italy, 20% of consumers - the highest proportion of the nine countries surveyed - reported that they shop
for green products in a systematic way, followed by Spain (17%), the US (16%), the UK (15%) and Japan
The findings suggest consumers have not abandoned their ethical principles as their financial woes have
More good news for suppliers is that some consumers are willing to pay a premium for green products - so long
as they were convinced that the products offer direct benefits.
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China's Stimulus Package
A stimulus package for China's textile industry is currently being drafted by the government to help the
sector through the global economic crisis according to local news sources.
The Chinese press say measures submitted by the National Development and Reform Commission and the
Ministry of Industry and Information Technology will include subsidized loans to boost sales and create
The news comes as profits at textile companies fell 1.8% in the first 11 months of 2008 after the global
financial crisis led to lower demand for their products. This is the first time in a decade that
profits have fallen.
Rising labor costs and the appreciation of the yuan against the dollar are also said to be behind slower
growth in China's textile and garment exports.
Exports slowed to 8.2% last year, from growth of 18.9% in 2007, with figures from the General Administration
of Customs putting total textiles and garments exports at $185.17bn in 2008.
The Chinese government has already taken steps to help its textile industry, and last year increased the
export tax rebate currently given to Chinese textile and apparel exporters from 11% to 17%. In December it
also cut some textile import duties.
Vietnamese Workers Strike
Around 1,000 angry workers at a garment plant in Vietnam have gone on strike accusing its owners of not
paying them on time.
On January 21, employees at the Valley View Vietnam company, based in the central city of Da Nang, went on strike after the company's leaders failed on a promise to release salaries before the Tet Traditional Holiday, or Vietnamese New Year.
More than 1,400 workers at the company downed tools for a strike in October last year, demanding better pay and
December 2008 Retailers'
Abercrombie & Fitch slumped 18% to $539.2m from $657.0m a year earlier. December same-store sales were down 24%.
Aeropostale said its December sales increased 25% to $392.7m. The company's same-store sales rose 12% for the month.
American Apparel said its same-store sales increased 3% for December.
Total sales for the five weeks to 3 January decreased 10% at fashion chain
American Eagle Outfitters, dropping to $493.5m from $546.1m last year. Same-store sales were down 17% for the month.
Bakers Footwear Group's same-store sales increased 3.4%, and net sales for the five-week period rose to $27.4m from $27.1m last time.
The Bon-Ton Stores were down 5.8% compared with the prior year period. Total sales for the five weeks decreased 5.6% to $527.2m.
The Buckle's same-store sales increased 13.5%. Net sales for the five-week fiscal month were up 20.8% to $131.2m.
Cache said its same-store sales for the five weeks to December 27, dropped 19%. Total sales were down $6.6m or 18% to $29.1m, as compared to last year.
The Cato Corporation reported sales of $96.1m over the December period, an increase of 2% over last year's $94.6m. Same-store sales for the month fell 2%.
Dillard's Inc posted a 6% drop in merchandise sales for the five weeks to January
3, 2009, to $1.1bn. Same-stores sales fell 5% over the period.
Gap Inc saw its net sales tumble 12% to $1.93bn for the five-week period. The company's same-store sales for December were down 14%.
JC Penney Company reported a same-store sales decrease of 8.1% for the five weeks to January
3, 2009. Total sales in December dropped 6.8% at the department store retailer.
Kohl's Corporation said its total sales for the five-week month increased 3.6% over the same period last year. On a same-store basis, sales fell 1.4%.
Victoria’s Secret operator Limited Brands reported a same-store sales decrease of 10% for the five weeks to
January 3. Net sales fell 5.7% to $1.644bn from $1.744bn last year.
Macy's Inc reported total sales of $4.397bn, a decrease of 4.7%. On a same-store basis, Macy's sales were down 4.0% in December.
Nordstrom saw its December sales drop 8.0% to $1.13bn. Same-store sales for December were down 10.6%.
Pacific Sunwear of California posted a 9% drop in total PacSun sales for fiscal December to $196.0m. Same-store sales were down 10% during the same period.
Ross Stores reported sales of $802m for the five weeks ended January
3, 2009, a 6% increase over the prior year. Same-store sales were flat.
Saks Incorporated said owned sales totaled $363.3m for the month, an 18.9% decrease. Same-store sales dropped 19.8% for the month.
Stage Stores reported that its total sales for the five week period to January
3 fell 1.3% to $257.0m from $260.3m a year ago. Same-store sales dropped 4.9% versus a decrease of 7.1% last year.
Stein Mart said its total sales of $178m were down 9.3%, and same-store sales fell 8.5% for the month of December.
Target Corporation saw net retail sales rise 0.2% to $9.28bn for the month. Same-store sales declined 4.1%.
The TJX Companies reported sales for the five-week period of $2.37bn, a 3% decrease. Same-store sales were flat.
Wal-Mart Stores reported total December sales down 0.1% to US$46.51bn, as same-store sales rose 1.7%.
Zumiez same-store sales dropped 12.3% for the five weeks to January
3, 2009. Total net sales were down 0.1% to $72.0m.
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