Up gradation is becoming a norm for all at this modern world scenery. Scientists are thinking to make new innovation, artists are annoying to create new scheme, and businessmen are trying to enlarge their business and so on. The world Textile and apparel retail giants are trying to expand their business more than before. Here is ten of the top news of retailer’s world for our readers. If you have any related information mail to firstname.lastname@example.org
UK retailers disclose new green targets
Tesco, M&S, John Lewis, Arcadia Group, New Look and Next along with fashion designer Stella McCartney are among 12 high street retailers along with over 30 suppliers, charities and recyclers in the UK clothing sector that have pledged to make significant reductions in their carbon footprint, water use and textile waste by 2020. They are committed to new targets on carbon emissions, water usage, waste to landfill and energy efficiency, aiming to reduce the industry’s environmental impact.
Primark bonds the Toxic-free Trend
British retail giant Primark has just joined the growing number of brands committing to eliminate all hazardous chemicals from its supply chain as part of Greenpeace¹s global Detox campaign. Primark joins Burberry to become the second clothing company to sign a Detox commitment recently. This news follows the release of Greenpeace¹s latest report revealing the presence of hazardous chemicals in children¹s clothes made by 12 major brands. As part of its commitment, Primark agreed to eliminate all hazardous chemicals in all its products and across its production processes by 2020. Primark will also ensure supply chain transparency by requiring manufacturing facilities to upload data on hazardous chemical discharges via a publicly accessible platform.
H & M profit rises by 11%
2013 ended strongly with well received autumn collections, which increased H & M sales in the fourth quarter by 13 % in local currencies. Profit after financial items increased by 11 % to SEK 7.3 billion. This is a good result, considering the substantial long term investments to be made in are such as IT, online, new brands and by broadening their product range. Examples of these investments are new fashion brand, & Other Stories, which has received a fantastic response, as well as extended H&M Sport range that was launched this January. The new fiscal year 2014 started well, with strong sales in December and January. There are still macro-economic challenges in several markets, but H&M is optimistic about 2014. It will be an exciting year with new countries and new opportunities. H&M has trust in its offerings and the management is convinced that the company will further strengthen its market position.
Wal-Mart profit drops by 21%
Much like its low-income shoppers, Wal-Mart can’t seem to catch a break as the U.S. economy rebounds.The world’s largest retailer has recently posted a 21 percent drop in fourth quarter profit and gave a subdued forecast for the current year as it continues to be weighed down by a number of factors.The issues Wal-Mart Stores Inc. faces are big challenges for Doug McMillon, who took over as CEO on Feb. 1. In a pre-recorded call, McMillon promised Wal-Mart will sharpen its focus on everyday low prices at U.S. stores and further push that strategy abroad.It now plans to open 270 to 300 small stores during the current fiscal year — double its initial forecast — adding to the 346 Neighborhood Markets and 20 Wal-Mart Express locations it already has. The expansion of smaller stores now outpaces the growth of its supercenters, which had long been the company’s growth engine.
Gap boosts up hourly Worker Pay amid debate about minimum wage
Gap Inc. (GPS), the owner of Old Navy, Banana Republic and its namesake apparel chain, will raise its hourly pay for U.S. employees to $9 in 2014 and $10 next year, saying it wants to “do more than sell clothes.” The increased wages will benefit about 65,000 store employees by 2015, the San Francisco-based company said in a statement. Chief Executive Officer Glenn Murphy announced the plan during an employee conference call.In making the move, Gap adds fodder to a national debate on whether the federal government needs to step in and raise the minimum wage. President BarackObama, who praised Gap’s move, wants to increase the rate to $10.10 an hour from $7.25, saying it will bolster the economy and reduce income inequality. Most Republican lawmakers oppose the idea.
Tesco trims middle-management; opens F&F stores in the Philippines
Tesco, the UK’s biggest retailer, recently opened three F&F clothing stores in the Philippines with its local franchise partner, Stores Specialists. Seven more stores are slated to open in the Southeast Asian nation by the end of this year. Beside this Tesco has deactivated some customers’ net accounts after their login names and passwords were shared online. The list of more than 2,000 Tesco.com accounts was posted to a popular text-sharing site earlier on last week. The supermarket giant said the data had been compiled by hackers using details stolen from other sites. A small number of people contacted by the BBC via the email addresses given on the list confirmed their accounts had now been deactivated.
PUMA and Arsenal Football Club (GB) team up
PUMA and Arsenal Football Club announced a long term partnership, effective July 1, 2014. PUMA will become the official kit partner of Arsenal. In addition to producing the playing and training kit for all Arsenal teams, PUMA has acquired wide ranging licensing rights to develop other Arsenal branded merchandise on a global base. This new commercial partnership represents the biggest deal in PUMA’s and Arsenal’s history. PUMA has extended and deepened its relationship with the FIGC (Italian Football Federation), signed 2013 UEFA Champions LeagueTM finalists Borussia Dortmund and bolstered its player portfolio with Sergio Agueero, CescFabregas, Mario Balotelli, RadamelFalcao, Oliver Giroud and YayaToure, amongst others. PUMA is defining itself as the clear number three football brand.
JCP Sales Up 2% in Q4; First Positive Quarter Since 2011
J.C. Penney (JCP) finally enjoyed its first positive quarterly sales report since 2011. On February 4, the retailer announced that its same-store sales rose 2 percent for the fourth quarter. In the nine weeks running through November and December, JCP’s same-store sales increased 3.1%. It experienced particularly brisk performance in activewear, outerwear, dresses, boots, men’s clothing, luggage and housewares. As they look ahead to 2014, their associates are encouraged by the company’s results and remain steadfast in JCP’s focus to build on these achievements and return to profitable growth. The chain said it closed its 2013 fiscal year with total available liquidity in excess of $2 billion.
Wal-Mart sets C$500 million Canada expansion, rival shares fall
Wal-Mart Stores Inc. will invest about C$500 million ($452.35 million) this year to expand in Canada, the world’s largest retailer said in February. Wal-Mart said its expansion plans will create more than 7,500 jobs including construction. Target Corp said it would open nine new stores across Canada, adding to the 124 it opened last year. Over the past year U.S. retailers such as Wal-Mart and Target have expanded in Canada, posing a threat to local retailers such as Loblaw Cos Ltd, the country’s largest grocer, and Canadian Tire, an automotive, leisure and home goods chain. Wal-Mart’s investments for the coming fiscal year, which are slightly higher than the C$450 million is earmarked last January for expansion in Canada, include more than C$376 million for store projects, C$91 million for distribution networks to expand fresh food capability and C$31 million for e-commerce.
British Asda is the first retailer to apply cloud based color service
X-Rite and Pantone (belonging to Danaher Corporation) announced on January 22, 2014, that Asda, one of Britain’s top value retailers and a wholly owned subsidiary of US Wal-Mart, will apply PantoneLIVETM, a cloud based color service throughout its global supply chain. Pantone Live allows Asda to standardize on a single platform and manage digital access rights to facilitate color communication across packaging materials and suppliers, improving operational efficiencies. In addition, PantoneLIVE’scentralisedcolour management system helps achieve speed to market efficiencies from initial design to final production, ultimately lowering product development and manufacturing costs. Asda will begin to deploy the solution immediately with Smart Price, Chosen by You and Extra Special private label brands.