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October 15, 2009
The McPete Sez Lingerie Newsletter & Women's
EU & South Korea Sign
The clothing and textile sector will benefit from a trade agreement that signed today by the European
Union (EU) and South Korea.
The deal, said a European Commission note, is "estimated to be worth up to EUR19bn (US$28.3bn) in
new trade for EU exporters [and] will remove virtually all tariffs between the two economies".
EU shoe, leather and fur goods exporters already enjoy a healthy surplus in trade with South Korea,
Canada To Drop Textile
The Canadian government is planning to eliminate all remaining tariffs on imported textiles in a bid
to reduce production costs and provide a competitive edge for the Canadian apparel industry.
The proposals are part of commitments made in this year's Budget to identify additional areas where
tariff relief could be provided.
Items including wool, cotton, and vegetable textile fibers; man-made textiles; lace, trimmings and
embroidery; coated and laminated fabrics; knitted or crocheted fabrics are included in the scheme.
The government is now seeking views on its plans to end Most-Favored-Nation tariff, with interested
parties invited to contribute before November 6.
However, while the initiative aims to eliminate many of the remaining duties on textiles used to
manufacture apparel, tariff elimination is not automatic.
Companies need to make requests to the Department of Finance if they want the duty savings on yarns
and fabrics to be implemented.
The government will also consider requests for continued tariff protection for specific products,
but any duties that remain in place following this consultation would be phased out over a period of
up to five years
Tia Lyn's NY Fashion Show with beautiful models of ALL SIZES!
Kohl's Opens 37 New Stores,
5,200 Jobs Created
Department store retailer Kohl's has created 5,200 jobs after opening 37 new stores across six states.
Among the 37 stores, 35 are former Mervyn's locations, 30 of which are in California.
The value-priced retailer is appealing to bargain-seeking shoppers during the recession, and
last month raised its full-year earnings guidance after first quarter sales exceeded expectations.
"We have used our financial strength during this downturn to expand in key markets, such as
California, as well as invest in our existing store base in order to gain market share at a time when
customers are looking for value more than ever," said chairman, president and CEO Kevin Mansell.
The retailer operates a total of 1,059 stores.
Pakistan's Winter Power
Textile plants in Pakistan are being advised to make alternative power arrangements to avoid
closures during the winter, after the government
warned of more disconnections during the coming months.
The country's Ministry of Petroleum and Natural Resources is preparing to curtail gas supplies to
the textile industry for the winter season after the government prioritized
supplies to the residential sector.
The plans will be sent to the Federal Cabinet for approval in the next few days.
Gas demand between December and February soars by 200% due to the higher consumption in the
Around 70% of Pakistan's textile industry runs on self generated electricity from gas-based power
Ejaz Khokhar, former chairman of the Pakistan Ready Made Garments Manufacturers and Exporters
Association said that gas supplies to the textile industry are ensured for nine months under a
The government's first-ever five-year National Textile Policy for 2009-14, announced in August,
promised to tackle problems including energy shortages.
September Retailers' Sales
At Abercrombie & Fitch, net sales were down 10% to $248.2m. September same-store sales tumbled 18%.
Aeropostale saw a 28% hike in total net sales for the five weeks to 3 October, up to $187.3m. The company's same-store sales increased 19% for the month.
American Apparel said its same-store sales for the month of September 2009 were15% lower than the same month last year.
American Eagle Outfitters said its total sales were up 7% to $246.0m, compared to $229.2m for September last year. Same-store sales were flat for the month, compared to a 6% decrease a year ago.
The Bon-Ton Stores saw its same-store September sales fall 4.8% compared with the prior year period. Total sales dropped 5.5% to $282.9m.
The Buckle said its same-store net sales were up 5.1% in September. Net sales for the five-week fiscal month increased 10.1% to $80.1m, up from $72.8m last year.
An 8% increase in sales at the Cato Corporation took it to $70.0m for the five weeks, up from $64.8m last year. Same-store sales rose 6% over the prior year.
Maternity apparel firm Destination Maternity Corporation reported sales were down 5.1% to $41.5m from $43.7m in the same month last year. Same-store sales fell 7.0%.
Dillard's said its merchandise sales for the five weeks ended October
3, were $519.26m, down 8.7% on last year's $568.47m. Total sales fell 9%, while same-store sales dropped 6%.
Gap Inc posted net sales of $1.33bn for September, a drop of 1% on last year's $1.34bn. Same-store sales also fell 1% compared with an 11% decrease for September 2008.
Hot Topic reported sales down 2.5% to US$59.3m for the month of September, compared with the same month last year. Same-store sales fell 4% during the period.
JC Penney Company reported same-store sales for the month down 1.4%, while total company sales in September fell 0.6%.
Kohl's Corporation posted total sales for the month up 9.6% from last year, to $1.46bn. On a same-store basis, sales increased 5.5% in September.
Victoria’s Secret operator Limited Brands reported a same-store sales increase of 1% for the month. The company's net sales of $654.8m were 2.8% lower than last year's $673.4m.
At Macy's, total sales were 2.4% lower than last year at $2.043bn. On a same-store basis, Macy's sales were down 2.3% in September.
Nordstrom reported a 2.4% decrease in same-store sales in September. Its preliminary total retail sales were $720m, an increase of 0.3%.
Ross Stores reported that sales increased 12% to $629m, up from $561m a year earlier. Same store sales rose 8%.
Owned sales at retailer Saks Incorporated totaled $242.1m for the five weeks, compared to $269.6m last year, a drop of 10.2%. Same-store sales fell 11.6% for the month.
Total sales at Stage Stores in September dropped 2.4% to $113m. Same-store sales fell 5.6% this year versus a decrease of 13.6% last year.
Stein Mart reported total sales down 9% to $101.9m during the month, and same-store sales down 5.4%.
At Target Corporation, net retail sales for September were $5.39bn, an increase of 1.3% from last year's $5.32bn. But September same-store sales dropped 1.7%.
The TJX Companies reported an 8% in September sales results of $2.0bn, up from last year's $1.8bn. Same-store sales rose 7%.
The Wet Seal posted sales of $50.1m, down 1.9% on the prior year. Same-store sales dropped 4.5% during the month.
Zumiez said that total net sales for the five weeks to October 3, increased 8.4% to $36.5m. The company's comparable store sales were down
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