Apparel spending, consumer confidence see gains in October: Cotton Inc

In October, the US consumer price index for garments rose by 1.1 per cent month-over-month, reversing prior declines in 2023.
Current clothing prices are 7.6 per cent higher than 2019 averages.
Import prices for cotton-heavy apparel stabilised at $3.70/SME, still above pre-pandemic levels.
Consumer confidence rose to its highest since January 2024, with spending on apparel up 1.7 per cent YoY.

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Bangladesh’s Oct exports grow 20.6% YoY; Jul-Oct exports up 10.8%

Bangladesh’s export earnings in October this year grew by 20.6 per cent YoY, fetching $4.13 billion.
From July to October this year, exports grew by 10.8 per cent YoY to reach $15.79 billion.
The readymade garments (RMG) sector contributed $12.81 billion to export earnings during the four-month period.
In October, the RMG sector generated $3.30 billion in export revenues—a 22.8 per cent YoY increase.

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Turkiye’s apparel exports to Germany down 8.7% to $1,915 mn in Jan-Aug

Turkiye’s apparel exports to Germany fell by 8.73 per cent to $1.92 billion in January–August compared to the same period in 2023.
Despite this decline, Germany remained Turkiye’s top apparel export market, accounting for 17.43 per cent of total exports.
Trousers and shorts were leading export items, valued at $415.2 million.
Turkiye’s overall apparel exports for Jan-Aug totalled $10.99 billion.

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New govt’s tariff policy to be a challenge if campaign vows kept: AAFA

Tariff policy under the new government will indeed be a challenge and will trigger new inflationary cycles if campaign proposals are fully enacted, making apparel expensive for Americans, trade body AAFA recently said.
AAFA will continue to push Congress and the Administration to renew expired and expiring programmes like the AGOA, the GSP and the Haiti HELP/HOPE preference programme.

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Australia’s apparel imports rise, fibre exports decline in Jul-Sept 24

Australia’s apparel and clothing imports rose 3.43 per cent YoY to $3.368 billion in July-September 2024, despite a slight drop in September.
Imports of textile yarn and related articles also increased by 4.11 per cent, while fibre imports fell 6.06 per cent.
Exports of textile fibres saw a 7.69 per cent decline, continuing a downward trend from the previous fiscal year.

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US’ HanesBrands reports Q3 2024 profit gains amid sales dip

HanesBrands Inc reported Q3 2024 net sales of $937 million, a 2.5 per cent drop from last year, impacted by the US Sheer Hosiery divestiture and foreign exchange rates.
Gross profit rose 12 per cent to $390 million, with a 41.7 per cent gross margin due to cost-saving measures.
Operating profit surged by 27 per cent to $103 million. International sales grew 1 per cent.

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