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Ten important news from retailers world

This month’s happenings in the retailers world once again indicate that retailing is getting stronger day by day. Companies is increasing in size and gaining more market from the small shops. High street brands to discount shops big brands are gaining competitive advantages and spreading more towards new market. Many of the global top retailers are sourcing from Bangladesh and so this section of BTT looks into their activities to screen out some important news for the readers. If you have any related information mail to farhan@textiletoday.com.bd.

Wal-Mart hires more than 40,000 veterans

During the first year of Walmart’s Veterans Welcome Home Commitment it hired more than 42,000 veterans.  The commitment, guarantees a job offer to any honorably discharged veteran within his or her first 12 months off active duty. Walmart projects it will hire more than 100,000 veterans in five years. The Walmart Foundation also announced it is doubling down on its commitment to veterans by pledging an additional $20 million through 2019 to support veteran employment and transition programs. In 2011, the Walmart Foundation pledged $20 million through 2015 to help veterans and their families get through those challenges with assistance from programs that provide job training, transition support and education. It met that goal one year early.

More than one million service members are due to exit the military in the next five years, and many of them will face significant challenges with unemployment and transition back to civilian life. To help address those challenges, the Walmart Foundation is increasing its support for veterans and military families.

H&M recalls 65,000 girls’ leggings over choking risk

H&M is recalling 65,000 pairs of leggings for girls because a metal part on the belt can detach and potential pose a choking hazard to young children, according to a U.S. Consumer Product Safety Commission announcement. The retailer received one report of a choking incident in the UK, but there have been no other reports of injury or otherwise in the U.S. H&M sold the belted leggings at stores nationwide and online between August 2012 and April 2014 for between $3 and $15.

H&M Hennes & Maritz Group reports total sales increases of 17 % in April (including VAT and in local currencies). The total number of stores amounted to 3246 (2881) on April 30, 2014. The second quarter results shall be released on June 11, 2014 and the six month report December 2013 – May 31, 2014 will be published on June 18, 2014.

Gap falls victim to web hoax

Jeans giant Gap Inc fell victim to a web hoax, with a fake corporate web site set up to shame the retailer for its response to Bangladesh worker deaths. The convincing-looking GapDoesMore.com surfaced to coincide with Gap Inc’s shareholder meeting, where the San Francisco clothier celebrated its recent decision to boost minimum worker wage to $10, reports forbes.com web site. The site, reported that the clothing chain would be ‘providing $2, 00,000 in compensation to those affected by the Aswad Composite Mills fire in October 2013.’ (Gap Inc long ago confirmed an indirect link to that accident, which killed nine workers months after the infamous factory collapse at Rana Plaza that claimed over 1,100 lives). The hoax statement added that Gap Inc could be joining the Accord on Fire and Building Safety in Bangladesh, a consortium of mostly European retailers paying restitution to accident victims and their families.

Zara needs e-commerce push to become truly global

Inditex recently nearly doubled the size of its headquarters in Arteixo, Spain. The small municipality in the northwest region of Galicia is the unlikely home to the world’s biggest fashion retailer. It’s hard to believe the trendy designs that dress millions of fashion-conscious Zara shoppers’ spring forth from unassuming buildings near the Atlantic fishing port of A Coruna. The group is betting that an internet push will change that. Web sales are key to luring in new customers in markets such as the US, with few stores but many virtual shoppers. Inditex is coy with numbers and does not disclose online sales or profitability.

J.C. Penney soars 16% on earnings

Apparel, jewelry, and home sales helped J.C. Penney beat analyst estimates for its performance in the first quarter, the company announced. Penney reported sales grew 6.3% to $2.8 billion for the quarter ended May 3, up from $2.6 billion last year. The company posted $352 million in net loss. Still that beat analyst estimates. Penney lost $1.15 per share, better than the $1.26 analysts expected. Penney shares ended up 16.3% to $9.73. Sales at stores open at least a year grew 6.2%, a significant leap from last year’s same-store sales loss of 16.6% in the first quarter of 2013.

Penney also announced that it had secured a $2.35 billion line of credit that’s “expected to add $500 million of incremental liquidity during peak seasonal needs,” such as during the important peak back-to-school and holiday shopping seasons.

Adidas looking at offers for Rockport shoe brand

German sportswear company Adidas is considering offers for its struggling Rockport shoe brand, its chief executive said. Adidas was constantly being asked whether the Rockport brand, which the world’s second-biggest sportswear firm group acquired when it bought Reebok in 2006, was for sale. “We are listening to these offers,” company told a conference call for journalists, adding it had engaged investment bank Guggenheim Partners to help it analyse the market. Company reported disappointing first-quarter results due to a big drop in sales at its TaylorMade golf business, said they were not happy with the group’s performance in North America but still expected growth for the full year.

Primark to open first U.S. store at former Filene’s site

Primark, one of the largest clothing retailers in Europe, plans to open a flagship store on four floors of the Burnham Building next year at the former longtime headquarters of Filene’s in Boston’s Downtown Crossing. The Dublin-based company has inked a deal to lease 112,000 square feet of space in the landmark property. About 70,000 square feet of the space will be used for retail, and the rest will be for corporate offices. Primark said the store will employ 500 hourly workers while another 60 are management. Renovation of the 1912 Burnham Building began last summer. Restoration is part of Millennium Partners’ $689 million redevelopment plan for the vacant site of the former Filene’s flagship store. Adjacent to the Burnham will be Millennium Tower, a 625-foot building comprised of 442 luxury residences above 95,000 square feet of additional retail space on its lower floors.

Nike and FC Barcelona unveil new home kit for 2014-15 season

Nike and FC Barcelona unveiled the new home kit for the 2014-15 season, uniting stars from the present first team and the future talent of the club as they look to next season and beyond. From the famous La Masia – the home of FC Barcelona’s youth academy – to the iconic Camp Nou, FC Barcelona’s footballers are synonymous with a unique playing style and the philosophy of nurturing young talent to craft victory on the pitch. FC Barcelona B-team players Sergi Samper, Edgar Ié and Jean Marie Dongou Tsafack joined established first-team members to unveil the new kit as the home strip celebrates the return of the Blaugrana for the 2014-15 season with a bold and classic look. This distinct new design provides Barcelona fans with their most authentic and truest identity of the modern era. The home shirt features bolder and wider Barcelona stripes in darker tones of red and blue.

Li & Fung seeks to spin off brands unit in 3 months

Global sourcing leader Li & Fung has submitted a formal application to list its consumer brands and licensing business, called Global Brands Group, on the Hong Kong Stock Exchange within the next three months. The application will be subject to a three-day review and if accepted, details of the size and scope of the business will be posted online. Li & Fung announced on March 20 its plan to spin off the consumer brands and licensing division through share distribution. Fung also said that he did not expect this year to be especially good with overseas clients.

Shares of Li & Fung soared more than 20 per cent to HK$12.48 the day after the announcement but have since fallen to close at HK$11.04. The US, which is the company’s largest market, saw nominal retail sales growth of just 0.1 per cent last month, compared with 1.5 per cent in March.

Uniqlo looks to capitalize on Heattech’s success with new brand innovations

Uniqlo, Japan’s casual-wear giant and unit of parent company Fast Retailing, wants some 15 of its brands to copy the lead of its highly-successful Heattech line. Heattech apparel is a fashionable yet affordably-priced line of heat-generating inner wear, cool, lightweight undergarments and winter to summer seasonal items that have racked up big sales. Beside these In a radical departure from its traditional retailing model, Uniqlo opened a groundbreaking new store in Paris where clothing is just one of many items to be offered to its customers.

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