U.S. apparel imports increased in September compared to the same month in 2014, but not to the heady levels of August, when more than $10 billion worth of imported apparel clogged U.S. stores and warehouses, causing retailers to slow down shipments where possible after a less than stellar Back-To-School season.
According to the latest Commerce Department data, total apparel imports rose by 1.8% in September, a much smaller increase than August’s almost 9 percent increase, to $9.3 billion on a CIF basis.
The apparel import increase contrasted sharply with total U.S. imports in the month, which fell by 5.7% to $193 billion despite the purchasing power of the stronger U.S. dollar.
On a 12-month smoothed basis, which corrects for volatility of data in a particular month, apparel import growth was 5.2% in September, its second biggest monthly jump in almost four years.
Apparel exports outperformed the total export market as well, falling by 4.2% compared to last September, to $515 million, while total U.S. exports of goods and services dropped by 5.9%. On a 12-month smoothed basis, apparel exports increased by almost 1 percent, their smallest monthly increase in five and a half years.
Textile firms Eastman and Huntsman delivered strong top and bottom line results, while brand manager Deckers narrowed its loss and luxe king Kering rolled along.Read more
The Nordstrom family is sweetening the deal in its search for equity partners willing to join its efforts to take the department store private.Read more
The juggernaut that is Amazon continued in the second quarter, at least on the top side, as the bottom line was hit by high expenses.Read more
J.C. Penney elected Jeffrey Davis as its new CFO, plus StitchFix COO Julie Bornstein is leaving her post.Read more
Walmart's new roadmap for renewing U.S. manufacturing highlights ways to create workforce, trade, tax and regulation solutions to address existing issues.Read more
How social responsibility attitudes among Asian consumers create opportunities and challenges for the global social compliance community.Read more
Beyond politics, Made in USA is—and has been—a reality for many brands. Though the U.S. remains uncertain with regard to future trade policies, domestic companies are here to stay for a myriad of reasons, including patriotism, proximity and pride.Read more