Textile News
European retailers speak with one voice on bringing safety to Bangladesh
After a tragic construction disaster in Bangladesh, European retailers, including H&M and Wal-Mart, signed the Bangladesh safety accord which will introduce measures aimed at boosting safety conditions in garment factories, taking a step to securing lives of workers. Undeniably, unions had a big part in pushing the European retailers to take action in improving workplace safety at Bangladeshi garment facilities.
Mulberry like-for-like sales improve after weak first-half results
On the 6th of November, British luxury fashion group Mulberry informed that the results from the beginning of the second half of the year were promising as retail sales grew significantly after the first half profit had been affected by operating costs. Mulberry Group Plc saw an 11 percent increase in like-for-like sales in the nine weeks ended on the 1st of December.
Emerald green becomes prime color for 2013
Emerald green is to dominate 2013 as Pantone LLC has chosen it to be the color of the coming year. To be exact, PANTONE® 17-5641 Emerald has been chosen to be the color of the year for 2013 by the worldwide guru on color for a wide range of industries.
Billabong Director to Investigate Leveraged Buyout Offer
Billabong International Ltd., the Australian surf wear manufacturer, which had expected buyers withdraw offers for takeover the previous month, stated on the 19th of November that one of the directors of the firm was set to investigate a probable Billabong leveraged buyout offer of the company.
H& M Hennes & Mauritz sales affected by warm weather in Europe
H&M Hennes & Mauritz, which is the world’s second-biggest clothing retailer, has published its third-quarter sales that missed analysts’ estimates. The unexpected drop in like-for-like sales in August is said to have been caused by a warm weather in key European markets which had kept customers away from H&M stores. According to compiled data, sales at H&M stores open a year or more dropped by 4 percent in local currencies in August, below the expectation of a growth of 1 percent.
