Total U.S. apparel import growth swung back into positive territory in January, according to data released last week by the U.S. Census Bureau, after turning in the first annual decline in 2016 in the category in the past four years.
Apparel imports rose by 4.8% in the first month of 2017, to $7.9 billion on a CIF basis, underperforming the 12 percent increase in total U.S. goods and services imports, which hit $187.6 billion in January.
On a 12-month smoothed basis, apparel imports fell by 5.5%, their smallest decrease in five months.
Apparel exports fell by 2% to almost $429 billion. Total U.S. goods and services exports rose by 9.1%.
Against the backdrop of the well documented challenges facing apparel retail in general and department stores specifically, Macy's, Kohl's and Neiman Marcus are all experiencing high-profile changes in the C-Suite.Read more
The British apparel retailer is the latest company to be prosecuted under the False Claims Act for skirting applicable customs duties.Read more
Walmart is rolling out new apparel brands across categories to shore up its position against Amazon as its sales in the sector continues to grow.Read more
Apparel companies historically have struggled with ethics and compliance, especially in sourcing and supply chain operations.Read more
VF Corp. said it will reinvest roughly $100 million back into its business to make it more agile and consumer focused, even while dealing with implications of the new Tax Act on its multinational operations.Read more