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Articles Of Interest

U.S. & China Reach 
Trade Deal

Page 1

Federated Up 64.1%
Page 1

Chinese Shoe Dispute? 
Page 1

Bra Studies Degree
Page 1

International Lingerie Show 
Page 2

Delicate Illusions 
Fashion Show
Page 2

Buyers' Best Sellers
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Ask Andy
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International Lingerie Show Continued
Page 3


Forplay VIP Party
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Ann Summers' Peephole Changing Rooms
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Ask Kevin
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International Lingerie Show Continued 
Page 4

Abercrombie to Delay Canadian Debut
Page 4

Sex Festival Held In China
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International Lingerie  Fashion Show
Page 5

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Thanksgiving The American Red Cross

  November 15, 2005                                           Issue #157


8/24

     McPete -Sez, 
    
The Lingerie Newsletter 
                  & 
       Women's Wear Journal

         
                 

Sleepwear-Daywear-Foundations-Loungewear-Hosiery-
       Swimwear-Dancewear-Clubwear-Funwear 
                              Ready to-wear.

*************************************************
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To View previous issues, 
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Heather Briggs & Pete McKeown  Pete's Biography

        
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 Editor's Note:
Well I had a great time at the Classique and International Lingerie Shows in Las Vegas, but I noticed there was some confusion about who and what we are all about. So let me give you a little history on McPete Sez. It actually all started with a completely different company - McPete Sales.
Peter McKeown started McPete Sales over 30 years ago. His company became a pretty well known company in the industry. They were sales reps who worked with many great companies over the years, such as Sentique, Shirley of Hollywood, Tu-Shy, Sinclair Institute..and many more.
When Pete retired from sales, he sold his company to Neal Fersht, who now owns and operates McPete Sales and who still represents many of these lines along with more.
For all of those who know Pete, you know that he could never sit still and relax for very long, so he started McPete Sez in April of 1999 - an online lingerie newsletter. In doing so, he was able to keep in touch with the lingerie industry that he loved so much, but at the same time, he was able to give up the long work days and equally long commute.
In January 2005, he turned McPete Sez over to his daughter, Heather Briggs.
Throughout the years, there have been people in the industry that have submitted articles to McPete Sez which we have posted. Even though they are not employees, and never actually worked on the newsletter, my father was always so appreciative of people's contributions to the individual issues thru the years.
McPete Sez has only had Peter McKeown and Heather Briggs as employees along with some freelance photographers that you might have met at the shows - Renee Kraft, and Gail Randle - just to name a few.
If you have any questions about this article, or have something to say to our readers and would like to see your work posted in McPete Sez, please send an email to info@mcpetesez.com.


21/24  

US & China Reach Textile 
                 Deal
The US and China confirmed they have reached a bilateral trade deal that will limit China’s surging textiles and clothing exports to the US for the next three years.
The pact, which concludes three months of trade talks, covers 34 products accounting for around 46% of China’s textile exports to the US. 19 of the 34 products are currently under safeguards, while the remaining 15 are not. 
Commenting on the deal, US trade representative Rob Portman said: “This textile agreement is an example of how the US and China have the ability to resolve tough trade disputes that benefit both countries.”
He rejected accusations that the deal was overly generous toward China and would mean a further increase of imports into the US, saying it would allow “predictability.”
Chinese commerce minister Bo Xilai said flexibility on the US side had helped the parties arrive at a deal, but added: “We do not expect that this single achievement can help solve all the conflicts or problems between us.” 
He added that the final agreement was “a far cry” from China’s original expectations.
China’s access to the US in core apparel categories during the next three years will increase by 3.8% (in square meters equivalent) over what it would have under a “best case safeguard renewal scenario” for 2006, 2007, 2008.

              
A model is wearing a garment by Delicate Illusions during
the Delicate Illusions -Candy Land Fashion Show on October
    10th at the Sapphire Gentlemen's Club in Las Vegas.  
               (Photo by
David Cherkis Photography ) 
 
See more pictures from this fashion show on page 2.



5/24   
64.1% Leap in Q3 for 
          Federated
Department store group Federated Department Stores has reported a jump in third-quarter profit, boosted by the purchase of May Department Stores and the sale of credit card assets.
Third-quarter earnings were $1.78 per share compared with 42 cents per share in the same period last year.
Sales in the third quarter totaled $5.8 billion, an increase of 64.1% compared to sales of $3.5bn in the same period last year. On a same-store basis, Federated's third-quarter sales were up 0.6%.
Federated's sales and earnings for September and October 2005 include results of The May Department Stores Company, which was acquired on 30August this year. 
For the first three quarters of 2005, Federated reported earnings from continuing operations of $3.57 per share, compared to $1.38 in the same period of 2004. 
For the year to date, Federated's sales totaled $13.0 billion, an increase of 22.5% from sales of $10.7bn in the same period last year. On a same-store basis, Federated's sales for the first 39 weeks of 2005 were up 1.4%.
Federated had 2004 sales of more than $15.6bn. With the addition of the May Company's portfolio, Federated operates nearly 950 department stores and more than 700 bridal and formalwear stores in the US, the District of Columbia, Guam and Puerto Rico. 



6/12 
Chinese Shoes Dispute
       Coming Soon?
A new EU trade dispute over Chinese imports – this time about shoes – could surface next year.
According to a report, a group of representatives from UK companies 
including Next, Clarks and New Look met with the European Commission  to encourage them not to deploy protectionist measures on Chinese and Vietnamese shoe imports.
Retailers fear shoe prices could shoot up if the EC were to place additional duties on shoe imports from China and Vietnam. But European shoe makers – particularly from Italy – maintain that surging cheap competition from low-cost countries such as China and Vietnam could badly damage their industries.
EU trade officials are investigating accusations that China is engaging in the ‘dumping’ of footwear in Europe.


            
8/24
Cortefiel Reports 97.6% 
        Leap In H1
Cortefiel has reported a 97.6% jump in first-half net profit to €32.2 million, helped by increased access to the Chinese market.
Cortefiel said the doubled earnings were because of the expiration of clothing and textile quotas in January, which had permitted it to purchase more goods from cheaper countries such as China.
Sales grew 11.9% to €474.6m during the first half, during which the company opened 37 new stores.
Cortefiel was recently taken over by venture capital groups PAI, Permira and CVC in a deal which pushed costs up by 12% in the first-half period.
The company operates units including Cortefiel, Springfield, Women' Secret and Pedro del Hierro.
       Allure Leather     
14/24
Degree in Bra Studies
The Chinese are serious about building a better bra. There's now a degree in bra studies at Hong Kong's Polytechnic University. 
And China's biggest lingerie manufacturer, Top Form, has a bra lab at its factory. The company makes more than 60 million bras a year for well-known labels like Victoria's Secret, Playtex and Maidenform. 
It has been reported that Top Form has been experimenting with various types of padding to give the bust a boost. They've tried air, but like tires it was prone to flats. 
Oil-filled pads were too expensive and heavy. 
Now, the company is trying a filling made from a thin type of fiberfill, the stuffing used ski parkas. 



2/24
Fruit of the Loom to Close 
            Two Plants
Fruit of the Loom, once the largest textile employer in Ireland, told its workers it plans to close both of its plants on the island early next year, more quickly than expected. 
The company, now a unit of Warren Buffett's Berkshire Hathaway Inc., announced in September 2004 that the two factories — one in the Irish Republic town of Buncrana that employs 370 people, the other in the Northern Ireland city of Londonderry employing 260 — would close within five years as production shifts to Morocco.
Last week it notified workers at both plants that all but about 100 of them would be laid off in early 2006, with both factories probably closing by July.
The Bowling Green, Ky.-based apparel company, which specializes in making underwear, sports wear and children's clothing, made Ireland its major European manufacturing base in 1987 and employed more than 3,500 at its peak.
But Fruit of the Loom has struggled to survive over the past decade. It filed for bankruptcy protection in 2002. Then Berkshire Hathaway bought it for $840 million.
Fruit of the Loom has already shut down much of its U.S. and Irish manufacturing base in favor of Morocco, where costs are lower. In its September 2004 announcement, the company blamed its decision to leave Ireland on the country's rising wage levels, heavy discounting in the European clothes market and the World Trade Organization's decision to lift European Union restrictions on textile imports from Asia.


1/24
China Currency Coalition
  Criticizes U.S. Approach
The US government’s approach to China’s exports has been strongly criticized by the China Currency Coalition, which points to the widening US trade deficit with its trading partner.
The coalition stated that the widening bilateral trade gap between the two countries – which looks set to top $200 billion – is testimony to China’s practice of currency of currency manipulation through undervaluing the yuan.
The latest US government figures reflect that the bilateral trade deficit with China accelerated to a new high of $20.1bn in September for a cumulative yearly total of $146bn. 
In the run-up to President George Bush’s visit to China at the end of this week, coalition spokesman David Hartquist said: "The bilateral trade deficit with China shows no signs of abating as long as the Administration acquiesces in permitting China to subsidize its exports to the United States."
US manufacturers have been particularly concerned by the surge in Chinese textile and apparel imports after global trade quotas ended at the start of 2005. 
The China Currency Coalition is an alliance of industry, agriculture, and worker organizations that aims to support US manufacturing by seeking an end to so-called Chinese currency manipulation.

 
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