Gildan Activewear has reported a drop in fourth-quarter and full-year profit after being hit by falling sales and a charge related to a shift in strategy aimed at simplifying its product portfolio and reducing complexity in manufacturing and distribution.
Top stories this week on just-style include a look at how China's clothing and textile makers are struggling to get back on track amid the continuing novel coronavirus (Covid-19) epidemic; why blockchain can help fashion brands enhance transparency; and Cambodia has urged the European Commission to reconsider its decision to partially suspend the Everything But Arms (EBA) trade benefit.
A grant from the recently launched Laudes Foundation will help non-profit financial think tank Planet Tracker to undertake a detailed analysis of the textile industry and identify potential financial risks for investors.
The novel coronavirus (Covid-19) outbreak is slowing economic activity in China and raising concerns about potential US supply chain vulnerabilities in a range of sectors, including strategic raw materials, a new report has warned - and also casts a question mark over the Phase One trade deal between the two countries.
Sportswear firm Adidas says its sales in Greater China have slumped 85% since Chinese New Year amid the coronavirus outbreak, with a significant number of stores closed and a reduction in footfall at its locations that do remain open.
Forever 21 is to be acquired by Authentic Brands Group (ABG), Simon Property Group, and Brookfield Property Partners, with the trio forging a strategic partnership to purchase the US teen fashion retailer.
Shares in Laura Ashley were up over 16% this morning (20 February) after the UK clothing and home retailer revealed it has secured a loan agreement that will allow it to meet its immediate funding needs.
Not-for-profit environmental organisation Canopy has launched a 'Next Generation Vision' for viscose to support the investment in, creation, trial, and purchase of rayon and viscose products made from low- impact alternative fibres.