Apparels

Page Industries Limited has reported revenue of ₹12,463 million (~$147.7 million) in Q2 FY24, a YoY increase of 11 per cent, with sales volume rising 6.7 per cent to 55.2 million pieces.
EBITDA grew 22 per cent YoY to ₹2,815 million (~$33.4 million), with a margin of 22.6 per cent.
PAT was ₹1,953 million, up 29.9 per cent.
For H1 FY24, revenue was ₹25,238 million, growing 7.3 per cent YoY.

Skirts, spanning casual to formal styles and materials like cotton, denim and silk, are a significant part of women’s clothing export market.
Notably, skirts saw an 8.47 per cent growth in 2022, surpassing pre-pandemic levels.
The US and Germany are leading skirt import markets, with the US showing 18 per cent growth. Despite geopolitical and economic challenges in 2024, recovery is expected by 2025.

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.

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.

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.

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.

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.

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.

Under Armour’s Q2 FY25 performance showed an 11 per cent revenue drop to $1.4 billion, with declines in North America (13 per cent) and internationally (6 per cent).
Apparel and footwear revenues fell, while accessories rose 2 per cent.
E-commerce revenue decreased 21 per cent, but gross margin improved by 200 basis points.
FY25 outlook anticipates further revenue decline but margin improvement.

Sri Lanka’s garment exports reached $3,479 million in Jan-Sept 2024, a 4.0 per cent increase from the previous year.
However, textile exports declined by 15.9 per cent, totalling $224.3 million.
Imports of textiles and clothing rose significantly, with textiles up by 18.2 per cent.
In 2023, garment exports dropped by 19 per cent to $4,440.6 million, and textile imports fell by 22.6 per cent.