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Articles Of Interest

VF Sales Fall
Page 1

M&Spencer Go Big
Page 1

Wal-Mart buys China
Page 1

Dupont Axes 2000 jobs
Page 1

Saudis wear & tear
Page 2

McPete Sez Mailbag
Page 2

The Penthouse Foul
Page 3

May Co. Consolidates
Page 3

Limited Flat
Page 3

Ask Andy
Page 3

Wal-Mart up
Page 4

Fredericks Lawsuit
Page 4

What men want
Page 4

Authority gets aggressive
Page 4

Woman's Wear Shows
Page 5




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   May 15,  2002                                 Issue #73



       Mcpete Sez, 
The Lingerie Newsletter 
                   & 
  Women's Wear Journal.

                 

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       Swimwear-Dancewear-Clubwear-Funwear 
                              Ready to-wear.

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      VF Corp. Reports Q4 Loss
Apparel giant VF Corp.  reported a sharp drop in fourth quarter sales and income.  Sales for the fourth quarter totaled $1,295.4 million compared with $1,462.5 million in the prior year's quarter. Net income excluding restructuring charges fell to $57.4 million compared with $86.8 million in 2000. The company also took a $236 million restructuring charge in the fourth quarter that included 13,000 job cuts. VF Corp.'s apparel labels include Wrangler, Lee, Brittania, Vanity Fair, Lily of France, Jansport and Healthtex.

British high street giant Marks & Spencer is to launch a dedicated fashion collection for plus-size women later this year with sizes starting at 20 and going up to 28.
Provisionally titled "Plus", the new range will be rolled out across 50 stores this autumn and will include some of same styles of
garments in the revitalised retailer's new womenswear range.
The move will see it go head-to-head with Arcadia's Evans chain and follows complaints from larger women that they do not have enough choice when it comes to fashionable and sexy garments.
 


33/48
Warnaco Inc, announced it is selling its former sewing factory and distribution center in Costa Rica as it tries to emerge from bankruptcy protection.

The China Cup International Show
     
Chinese models show entries in the 'China Cup' International Women's Wear Design Contest Final in Shanghai April 28, 2002. The contest is part of a ten-day Shanghai International Fashion Festival trying to put the city onto the world fashion
map.
     
Chinese models wearing butterfly designs perform during an intermission at the China Cup underwear/beachwear design contest in Shanghai. 
                   
Chinese models show feathery underwear during the China Cup underwear/beachwear design contest in Shanghai 



9/24       
 
Is Wal-Mart buying everything from China??
A senior Wal-Mart executive said that the retail giant plans to acquire more textiles and clothing from China over the next five years as quota restrictions are lifted.    Cui Renfu, president of Wal-Mart's international group global procuring office, said that the retailer plans to procure far more textiles from China in the future than it does at the moment. 
If you walk into Wal-Mart, just try to find anything that says "Made in the USA" (its all chinese..)
Meanwhile 

Troubled textile giant Guilford Mills Inc has announced it plans to sell its Twin Rivers factory in Schenectady, New York, to print fabric converter H Greenblatt and Co for an undisclosed sum. The announcement comes less than a week after the North Carolina-based company filed for Chapter 11 bankruptcy protection after agreeing a deal with its lenders to reduce its $270 million debt to $145m.   Should move to China?

"Work is the curse of the drinking classes."
Oscar Wilde.


F
alling sales and stiff competition this week forced fiber giant DuPont Textiles & Interiors (DTI) to announce plans to axe more than 2,000 jobs - 10 per cent of its worldwide workforce. More than two-thirds of the job losses will be in the US, with the remainder at its European operations.
 
          Portuguese Fashion show

The First Lady is a perfect
                Model


Portuguese First Lady Maria Jose Rita displays a long dress by Portuguese designer Augustus during a fashion show promoting the
Portuguese fashion industry Friday night, April 26 2002, in Figueira da Foz, northern Portugal.







Bankrupt apparel manufacturer Fruit of the Loom Inc was on Tuesday finally sold to Warren Buffett's Berkshire Hathaway Inc for at least $835 million in cash.
Berkshire said it had purchased substantially all of Fruit of the Loom Ltd's business operations and that its acquisition completes the firm's emergence from Chapter 11.

         

    NYC Fashion Week to Be Rescheduled 
NEW YORK - New York Fashion Week is likely to be rescheduled to avoid conflict with events commemorating the anniversary of the Sept. 11 terror attacks.
In a meeting last week, officials from the Council of Fashion Designers of America and representatives of designers and retailers reached a consensus to avoid keeping the shows on the current schedule of Sept. 8-15.     The runway shows held in tents at Bryant Park were in full swing at the time of the attacks last fall. The rest of the previews were canceled immediately.
Moving the shows away from the anniversary "is absolutely the crux of the thing," Peter Arnold, executive director of the council, told The New York Times.
Fern Mallis, an organizer of the 7th on Sixth shows, said city officials had asked that the shows be scheduled for another time.

     
Models wear lingerie from Australian supermodel Elle Macpherson's Intimates Summer 2002 collection at a Sydney restaurant in Sydney May10, 2002. The show which features a number of corsets and torsolettes was timed to coincide with the end of Australian Fashion week, which ran from May 6-10.



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