Leonie Barrie's apparel and textile industry blog - from just-style.com

New Year, bad news

Mon, 05 Jan 2009 17:32:00 GMT

We're less than a week into the New Year and already there's another slew of bad news from the high street - confirming fears that disastrous holiday sales will spark a domino effect of store closures and bankruptcy filings over the next couple of months.

Maternity wear retailer Blooming Marvellous was this weekend reported to be on the verge of collapse, and Adams Childrenswear today shut 111 stores with the loss of around 850 jobs, just five days after calling in the administrators.

The next fortnight will also see trading updates from the likes of Marks & Spencer, Next, Debenhams, Ted Baker and JD Sports, and there are fears that the recent stampede of shoppers taking advantage of unprecedented discounts still won't have boosted sales enough to help margins. After all, the logic says, if you cut prices in half then you'll have to sell twice as much to make up the difference. And with the best will in the world, that's unlikely to have happened.

M&S, which reports results on Wednesday, is widely expected to announce one of its worst ever Christmas trading performances accompanied by another profit warning. The retailer is one of the UK high street barometers, so its performance will be keenly watched. It was also one of the most high profile discounters over the festive season with several one-day sales in which it cut prices on all clothing items by 20% in an effort to stimulate flagging sales.

But industry observers believe the move is unlikely to have had the desired effect - and are expecting an 8.5% drop in sales of general merchandise (which includes clothing and footwear) in the 13 weeks to 27 December.

Festive sting for retailers

Fri, 02 Jan 2009 12:31:00 GMT

There was no reprieve for retail businesses in the final week of 2008, as chains including Adams, The Officers Club, Morgan and USC all filed for administration during the festive break.

In addition, there are fears that further companies will fall victim to the financial crisis over the coming months - despite being boosted by Christmas sales and falling interest rates.

In many cases, creditors will have kept a watchful eye on Christmas revenues and January sales with a view of recovering debt while they have the chance to do so.

Should bleak predictions for around 100 total retail casualties per month be correct, then 2009 will be a venomous one for the High Street.

With the casualty list adding to Woolworths' collapse last month, it seems that fringe retailers are struggling to compete with value operators like Tesco and Primark amid sloping demand from consumers.

But the disappearance of established brands like this - and thousands of resulting job losses - is all concrete proof that the banking crisis that dominated the business pages last year has well and truly filtered down to the consumer.

On a positive note, less debt-laden retailers will be looking to snap up their own bargains in 2009, as parts of businesses, remaining stores and brands go on the block.

They know that by the end of this calendar year there might well be some light at the end of the tunnel.

On this final note, Happy New Year from all the team at just-style.

By Joe Ayling, news editor.

Happy Holidays

Tue, 23 Dec 2008 14:54:00 GMT

After a year in which the world confronted an unprecedented global financial meltdown whose twists and turns seemingly unravelled in more unexpected ways by the day, I think it's fair to say we're all looking to draw a line under 2008.

We'll be closing the just-style offices today (23 December), and resuming a normal service again on 2 January.

Until then, from all the team here at just-style I'd like to thank you for your support throughout 2008 - and to wish you a happy and peaceful holiday.

The eye of the Christmas trading storm

Mon, 22 Dec 2008 14:53:00 GMT

The week ahead will find retailers at the eye of the Christmas trading storm, with seven out of the ten top grossing days of the holiday season all occurring in the eight-day period from 19-26 December. However, even the most bullish of predictions provided by the US' National Retail Federation is forecasting a 2.2% increase in holiday sales to US$470.4bn - the slowest growth since 2002.

Other observers are even more pessimistic. ShopperTrak expects a record low 0.1% increase in sales and a frankly depressing 9.9% drop in foot traffic, while The NPD Group found that more than a quarter of consumers were planning to spend less this Christmas - prompting a prediction of flat to declining sales.

It's a similar picture in the UK, where private equity firm Silverfleet Capital, the owner of discount department store TJ Hughes, is warning of bleak times ahead for retailers in 2009. It believes consumers will continue to trade down to value and discount retailers, and there will be lots of merger and acquisition activity in the form of distressed purchases, refinancing and equity injections.

The predictions are little consolation to UK retail chain Woolworths, which is to close all 807 of its stores by 5 January, with the loss of 27,000 jobs. The administrators say more than 300 Woolworths stores are under offer from food, clothing and value retailers, along with interest in brands such as Ladybird children's wear - but it is increasingly unlikely there will be a last-minute bid for the business as a whole.

Other firms are responding to the tough economic climate and the downturn in consumer spending by trying to reduce costs. This is seen in the form of job losses at apparel maker VF Corp's jeanswear and services groups, while US children's wear retailer The Gymboree Corporation is to cut the salaries of its senior management by 10-15%.

International Textile Group, meanwhile, is realigning its Cone Denim and Burlington Worldwide divisions to create a single business group called ITG Apparel & Specialty Fabrics. The company says the move to combining its apparel resources into a single unit "provides a simpler, more robust platform to leverage our strengths and offer customers greater support within a more flexible, cost-competitive structure."

New Year, new outlook

Fri, 19 Dec 2008 14:25:00 GMT

I'm in the process of writing a management briefing looking at the top apparel industry issues to watch in 2009 - and, as always, it would be nice to have a crystal ball to hand to help me with the task. In the absence of one of those, it's interesting to see what experts in various fields have to say about their specialist areas, and one of the most consistently accurate is from financial analyst IHS Global Insight.

Its chief economist Nariman Behravesh was pretty much on the mark with eight out of 10 of his predictions for 2008 - so it's a fair bet he'll be right again with what he's forecasting for 2009.

Not surprisingly it makes for gloomy, if compelling, reading.

In a nutshell, he believes the US and world economies are about to suffer through some of the worst recessions in the post-war period. Most measures of economic and financial activity look like they fell off a cliff in September and October, and have been deteriorating at an alarming rate ever since. The United States is now officially in a recession that started in December 2007. Japan and many European countries are in the same boat. At the same time, growth in most emerging markets is faltering. IHS Global Insight believes global growth will be in the 0.0 - 0.5% range during 2009, compared with 2.7% in 2008.

How are apparel firms likely to fare? Well I'm still working on that one, and you'll have to wait until January to see the prognosis.

COMMENT: Will there be any cash left for 2009?

Nike picks ups its pace

Fri, 19 Dec 2008 08:50:00 GMT

Nike continues to outpace the economy and its sportswear rivals, posting a 9% increase in second quarter profit to US$391m, and a 6% rise in sales to $4.6bn - helped by strong performances in its international markets. Even a 1% drop in US sales as retailers cancelled orders and delayed receipts couldn't deflect from a 6% rise in Europe and a 22% and 21% revenue jump in Asia Pacific and the Americas respectively.

Future orders scheduled for delivery from December through April 2009, an important indicator of future demand, also took the market by surprise with a 6% jump excluding currency effects. And even as the global slowdown has accelerated, "we haven't seen a worsening situation as we look at November going into December," confirmed CEO Mark Parker in a conference call today.

Breaking down the futures figure, orders in the US were up 6% - driven by retailers' demand for Nike and Jordan footwear - Asia Pacific was up 11%, and the Americas 6%, but EMEA, the region that includes Europe, the Middle East and Africa, was down 13%.

This also seems to bear out figures just released by market research company The NPD Group Inc, which show the European market for athletic footwear and apparel is being hit harder by current economic challenges than in the US. The downturn is said to be most noticeable in products intended for casual use.

New funding pressures loom large

Tue, 16 Dec 2008 17:11:00 GMT

The credit crunch has started to play second fiddle to the frontline battle against falling consumer sales and rising unemployment on the world's financial pages of late, as the economic gloom spreads from the finance sector to broader consumer industries.

But, startling figures I saw today on the BBC website suggest that the ability of (or should I say failure of) businesses to be able to negotiate funding from their banks will bring the credit crisis storming to the front of the agenda once more.

The figures, reported by Robert Peston, the BBC's business editor, are from the Bank of England's quarterly bulletin and show that, in 2009, there will be a massive bulge in the value of bonds issued by European companies that have to be repaid.

Peston says that close to US$1000bn of what he terms "old world" companies' borrowings in the form of tradable debt has to be paid back during the next 12 months - with something like $800bn of this owed by financial companies and $200bn by non-financial companies.

"That would be a colossal sum to pay off at the best of times, and is equal to about five times what's been repaid in 2008. It is a disturbingly huge amount, at a time when even the bluest-of-blue-chip companies are finding it difficult and expensive to raise money by selling new corporate bonds," he says.

There is of course plenty of talk about government bail-outs already for car and steel manufacturers, but the prospect of these safety nets being extended to other more unexpected industries is rising.

Consumer spending curb continues

Mon, 15 Dec 2008 12:49:00 GMT

More proof of the problems being faced by the UK retail sector came with a survey published last week which revealed British retail sales fell at their sharpest annual pace in more than three years in November. The figures published by the British Retail Consortium are seen as a grim sign of what retailers can expect next month as consumers continue to curb their spending in the run-up to Christmas.

The data showed total retail sales fell by 0.4% year-on-year in November, and were down 2.6% on a like-for-like basis. Despite extensive heavy discounting, clothing and footwear fell further below year-earlier levels.

Looking ahead, things could well get a lot worse before they begin to improve, another report says. Verdict Consulting warns high street retailers should brace themselves for one of the worst years on record in 2009, with growth not expected to return until 2014. The research suggests UK retail spending growth on the high street will shrink by over 4% next year.

The impact of the economic slowdown continues to be played out at UK high street chain Woolworths Plc, which has begun a store closing sale at its 800 branches across the country as it looks increasingly unlikely that the business will be sold as a going concern. Some shops may close before the end of December, and the administrator is to consult with Woolworths' 30,000 staff over possible redundancies.

However for Spanish retailer Inditex, owner of the Zara fashion chain, growth at new stores in emerging markets such as Asia and Eastern Europe has helped push nine-month profit up 2%. Sales in the period rose 11% to EUR7.35bn. Europe's biggest clothing seller said results for the six weeks since the beginning of its fourth quarter show a similar pattern of growth as consumers snap up its fast fashions.

Canadian T-shirt, fleece and sock maker Gildan Activewear is to phase out its sock finishing operations in the US by the middle of next year, after its fourth quarter profit nearly halved and negative market conditions look set to hit its first quarter results. The manufacturer said sales in the quarter rose 27.4% to $324.7m, but were offset by higher cotton and energy costs and an unfavourable product-mix.

Of course one way that companies can achieve a competitive edge is by having the right systems in place to juggle constant order changes and short product lifecycles across complex global supply chains. So here at just-style we'll be kicking off the New Year with a dedicated PLM (product lifecycle management) hub to help clothing and footwear firms keep up-to-date on the latest products, developments, applications and roll-outs specifically aimed at them.

just-style launching PLM hub

Wed, 10 Dec 2008 15:34:00 GMT

Among the consistently most popular stories on just-style are those relating to new software and new installations bridging the supply chain between manufacturers and retailers. And of course the reason for this is that having the right systems in place is a sure-fire way of giving companies a competitive edge.

Sitting at the top of the technology tree are PLM (product lifecycle management) tools. How else would apparel and footwear firms be able to juggle constant order changes and short product lifecycles across complex global supply chains if they didn't have the right software to manage every step of the process?

We've now taken this demand for the latest information on PLM to the next logical stage, and in January will be launching a dedicated PLM hub to help clothing and footwear firms keep up-to-date on the latest products, developments, applications and roll-outs specifically aimed at them. Dassault Syst�mes and PTC are among the PLM vendors supporting the hub.

If you'd like to register to be notified as soon as the Buyers' Guide to PLM Software is launched, click here.

Who's doing well - and why

Wed, 10 Dec 2008 15:09:00 GMT

The US retail market, I've seen written somewhere, can be divided into Wal-Mart...and everyone else. Of course this is a big generalisation, but there's more than an element of truth to the observation that the discount chain is one of the few places where US consumers are still shopping.

But what about the specialty chains? Well the good news is that there are still some who are bucking the downward sales slump, including Hot Topic, Buckle, American Apparel and Cato. And the message seems to be that if you're selling something unique or something with value for consumers - like irresistible fashions - then they will still buy.

5 stores bucking the sales slump

November sales chill

Mon, 08 Dec 2008 14:39:00 GMT

A surge in shopping on Black Friday, the day after Thanksgiving, wasn't enough to bring much seasonal cheer to US retailers in November, despite their attempts to attract shoppers with hefty markdowns and other promotional deals. A brief flurry of spending petered out as the weekend progressed, leaving many stores fearful about what lies ahead in December - a crucial month in the retail calendar.

But there were also other factors at play in November. A calendar shift this year eliminated a week of holiday shopping from the month's results, which not only cut into sales but made for tough comparisons with last year when figures included a full week of post-Thanksgiving trade. And for retailers with international operations, a strengthening US dollar cut sales overseas.

On the upside, lower gasoline prices left consumers with a larger disposable income than in recent months, and cooler weather in the east finally spurred sales of winter clothes.

Discounter Wal-Mart Stores continued to be the brightest performer, with aggressive price cuts and new apparel merchandise helping drive a 3.4% rise in same-store sales. Specialty clothing retailer Gap Inc also surprised, with a sales decline that was less than had been expected. But department stores continued to disappoint, with Macy's posting a 13.3% same-store sales decline.

Looking ahead to December, initial signs suggest consumers are already further ahead in their shopping than they were a year ago - which is not good news for retailers as it points to traffic and sales slowing over the next few weeks.

Stores will also need to offer even more aggressive discounts to entice shoppers who are sticking to tight budgets and are now on the lookout for items that have been marked down. But this will probably hurt fourth-quarter earnings as the price cuts eat into retailers' margins. There are also fewer days between Thanksgiving and Christmas this year, so retailers will have to work even harder to make up lost ground.

Consultancy TNS Retail Forward is warning of "grim" holiday sales - but also suggests sales should begin to bottom out in December. It adds that business will continue to skew toward value-driven retail formats like discount stores, supercenters and warehouse clubs.

Tailor targets rogue traders

Fri, 05 Dec 2008 15:52:00 GMT

A London-based tailor has launched a campaign to stop manufacturers labelling products 'Made in England' when they have in fact been made abroad.

Tony Lutwyche's stand comes after Richard James, who last week won Bespoke Designer of the Year at the British Fashion Awards, and retailer John Lewis were both forced to stop selling falsely labelled 'Made in England' suits.

Changes to trading regulations in May removed a loophole which had allowed tailors to claim suits had been made in England provided "substantial changes" had been carried out in the UK.

Lutwyche says: "Someone had to take a stand against companies intent on ripping off the general public and denying the British economy much needed jobs and investment."

UK: Tailor removes 'Made in England' from Mauritius suits

Do retail discounts work?

Thu, 04 Dec 2008 18:28:00 GMT

As more and more UK retailers are turning to discounts and special promotional events to try to persuade Christmas shoppers to part with their cash (Marks & Spencer is holding its second 'One Day Christmas Spectacular' today) some industry observers are beginning to fear they might be doing serious damage to their businesses.

Like M&S, which is offering 20% of all its clothing, the UK's second-biggest department store chain Debenhams is also slashing 20% off items over the next three days. And that's just the tip of the iceberg, since most high street retailers fear this festive season could be the worst in recent memory. Some stores in London have even started opening at 7am to catch shoppers on their way to work, tempting them into their shops with champagne and croissants.

Are early discounts like this really such a bad idea? In the US of course they're commonplace, recession or not, and Black Friday's pre-dawn openings and steep discounts are as much a part of the Thanksgiving ritual as the turkey feast.

But in the UK it's a new phenomenon - on this scale at least - at what is traditionally the retailers' most lucrative time of the year. The fear is that consumers will hold off buying in the belief that prices might fall even further, profit margins will be squeezed, and it perhaps sets a precedent for seasons to come.

Of course a lot of retailers need to clear their stock too, and many will argue that it's better to sell at a 20% discount now than be forced to take even more off in the January sales. And desperate times call for desperate measures - so whatever the risks of early discounting, perhaps the danger of doing nothing at all could be even worse.

Shopping with a conscience

Tue, 02 Dec 2008 17:44:00 GMT

For those of you who will be giving Christmas presents this year, how about shopping with a conscience?

A new guide lists sweatshop-free options for consumers who want to purchase men's, women's and baby wear, coats, T-shirts, footwear and even sports equipment which have all been made under ethical conditions.

Produced by SweatFree Communities and the International Labor Rights Forum, the 2009 Shop with a Conscience Consumer Guide lists retailers and wholesalers who have been vetted to ensure their products meet sweatfree criteria - which include safe working conditions, living wages and good benefits for workers, unions or worker-owned cooperatives. The companies even list the sources of their products.

A great way to give gifts - and also support those firms who care where their merchandise comes from.

A kick-start to spending?

Mon, 01 Dec 2008 12:08:00 GMT

Retailers are doing everything in their power this year to get shoppers to start spending. Black Friday kicked off the US holiday shopping season, and was marked by pre-dawn openings and steep discounts that stores hope will be too much for consumers to resist. Preliminary research suggests footfall will be marginally lower than last year - but the key question is will Americans shop? And can this be sustained through to Christmas?

The British government is hoping to kick-start its economy with a package of emergency measures that includes cutting VAT by 2.5% until the end of 2009. It has been met by a mixed reaction, since for consumers the cut will effectively mean a GBP2.50 price reduction on every GBP100 spent - a drop in the ocean according to many analysts.

They point out that retailers such as M&S and Debenhams have already cut prices by more than 20%, so another small reduction will make very little difference. And there are fears that implementing a new VAT rate will be a logistical nightmare for retailers at their busiest time of year. Every label will need to be replaced and changes to IT systems will be costly and complicated to implement.

But it's too late to save casual clothing retailer Steve & Barry's, which is to close its remaining 173 stores, liquidating $250m worth of stock in the process. The decision comes just three months after investment firms Bay Harbour Management and York Capital Management bought Steve & Barry's for $168m, a month after it filed for Chapter 11 bankruptcy protection.

And beleaguered UK retailer Woolworths has gone into administration after running up debts estimated at GBP385m (US$594m). Administrators say "a number of parties" have expressed interest in buying all or part of the company, which has about 800 stores throughout the UK, employing some 25,000 people.

Other brands that have changed hands, meanwhile, are Kellwood's Hanna Andersson and Gerber Childrenswear businesses which have been sold to private equity firm Sun Capital Partners for $179m. The two businesses, which were not core to Kellwood's women's wear operations, will now operate as stand-alone units.

As part of plans to create a global supply network to support the roll-out of its stores around the world, Japanese retail group Fast Retailing is setting up a joint venture company to make fabric and garments for its Uniqlo casual clothing chain in Bangladesh. The US$80m deal will also help the retail giant reduce its reliance on China, where around 90% of all Uniqlo products are currently made.

US retailers and importers have welcomed the news that a third and final review of apparel imports from Vietnam has led the US Commerce Department to conclude there is insufficient evidence that the country's apparel shipments are being unfairly priced. The import monitoring program is now set to conclude at the end of the current Administration.

Will shoppers shop?

Fri, 28 Nov 2008 17:21:00 GMT

Retailers are doing everything in their power this year to get shoppers to start spending, with today Black Friday (29 November) kicking off the holiday shopping season. Steep discounts and pre-dawn openings have marked the start of the annual pilgrimage which is estimated to have accounted for around 15% of holiday sales last year.

The term Black Friday is thought to refer to the beginning of the fiscal period in which retailers move into the black or turn a profit for the first time. Of course one day is not going to make or break the fate of most in the retail sector, but there's a lot riding on fourth quarter performance, and holiday sales as a whole, so it's going to be an important gauge of people's willingness to spend.

But with many store chains starting their sales even earlier this year, and analysts suggesting shoppers will hold out as long as possible for bigger bargains nearer Christmas, the key question is will Americans shop? And if they shop today, can this be sustained through to Christmas? This is a particularly tough one for clothing sellers, with research seemingly unanimous on the point that spending on apparel is among the first and deepest cuts to be made.

In the money: Retailers pin hopes on Black Friday

Woolworths' woes

Thu, 27 Nov 2008 18:11:00 GMT

Perhaps the biggest surprise about UK retailer Woolworths isn't that it collapsed yesterday (26 November) - but that it took so long. I've often wondered what the point of its stores was, and it seems I'm not alone. Sliding sales and a GBP385m debt might have meant the global financial crisis finally pushed the faltering retail giant over the edge, but it has been struggling for years - even when retail sales generally were good.

With a mind-boggling product range in its 800 town centre stores, veering from sweets to garden furniture to video games to plants, it offered a bit of everything but without the depth or value offered by supermarkets or the internet.

More than anything, the group seemed to have lost its way. Some of the plans we've reported on just-style to turn the business around have included a new Argos-style catalogue featuring children's toys and clothes, in-store 'shop in shops' for the Ladybird children's wear ranges, standalone Ladybird stores, and lowering costs by reducing the amount of packaging used on products.

But it seems at the end of the day, the writing has simply been on the wall for a long, long time.

UK: Interest in stores as Woolworths goes into administration

Will tax cuts make a difference?

Tue, 25 Nov 2008 19:17:00 GMT

There's been a mixed reaction to the package of emergency measures unveiled by the UK government yesterday in an attempt to kick-start the economy. Perhaps most controversial is the decision to try to revive the high street by cutting VAT by 2.5% until the end of 2009.

The cut, from 17.5% to 15% would effectively mean a GBP2.50 reduction on every GBP100 spent - but this is seen as a drop in the ocean by many analysts. They point out that some high street retailers such as M&S and Debenhams have already cut prices by more than 20%, so another small reduction will make very little difference.

The fall in the price paid by shoppers will be just GBP1 off a GBP50 jumper, or GBP5.30 off a GBP249 M&S Autograph men's suit. The cut will make no difference to children's clothing and footwear which is already VAT exempt.

The British Retail Consortium fears that not only are retailers likely to be selective in how they pass on the VAT cut to their customers, but the effective tax rise when it is reimposed again will actually dampen the scale of the recovery.

It also warns that implementing a new VAT rate in just a week (the changes apply from 1 December) will be a logistical nightmare for retailers at their busiest time of year. Every shelf label will need to be replaced and prices on packs and hang-tags stickered over. Communicating price changes and setting a round number price point will be difficult, as will handling customer refunds.

Not to mention changes to IT systems, particularly financial management and enterprise resource planning (ERP) applications. It is not just a matter of re-pricing goods on the shelves and Point of Sale systems, says Angela Eager, senior research analyst at IT consultancy Butler Group.

It means making, checking, and testing changes throughout the entire inventory, the up and downstream supplier network (catering for different change timelines of the various suppliers within the chain), and in back office systems and related processes such as financials and ERP systems.

And the run-up to the Christmas shopping frenzy is a time when businesses need to concentrate on handling volume transactions instead of altering their core systems.

One estimate puts the cost of implementing the temporary VAT cut at GBP176.5m - followed by another GBP127 million in 2010 when the rate reverts to its usual level. Which means any short-term benefits will be completely cancelled out.

Dismal third quarter results

Mon, 24 Nov 2008 12:51:00 GMT

In a week of dismal third quarter results from US retailers, beleaguered Gap Inc managed to surprise the market with a 3.4% rise in third quarter profit to $246m. Admittedly the income boost was achieved by cost cutting, higher margins and reduced inventory levels - rather than better sales - but it did also affirm its earnings guidance for the year.

The worry, however, is what will happen when the company has cut all the costs it possibly can? There is certainly no respite on the sales front, with total sales sliding 7.7% in the quarter; and same-store sales falling across its Gap, Banana Republic, Old Navy and International divisions.

Analysts say the retailer's "rock solid" balance sheet and lack of financing concerns have put it in a better position than its competitors, but until it can reignite sales growth there must surely be concerns about its growth going forward.

Cost-cutting measures continue to take centre stage at T-shirt, underwear and sock maker Hanesbrands, which is to cut nearly 400 jobs and close its yarn production plant in China Grove, North Carolina. Around 210 of the jobs being axed are management and corporate roles, while 185 employees will lose their positions when the yarn plant shuts at the end of the year.

The move is part of longer term plans by Hanesbrands, which owns labels such as Champion, Wonderbra and Playtex, to consolidate production into fewer but bigger facilities in Asia. Since spinning off from Sara Lee in September 2006, it has shuttered at least 28 plants worldwide employing around 16,300 workers.

Job cuts are also looming at US apparel maker Warnaco Group, which is to axe 7% of its corporate staff in a bid to adapt to the difficult economic climate. In total, the streamlining will result in 45 positions being lost, but the company is also eyeing a US$40m reduction in expenses next year.

Over in the UK, discount fashion chain MK One has gone into administration for the second time this year after being buffeted by a combination of tough trading conditions and intense competition from cut-price rivals. The high street retailer, which operates 125 stores, employs around 1,400 full and part time staff will continue to operate while administrators try to find a buyer for the business.

On the trade front, new research suggests China accounted for 42.8% of US apparel imports by volume in September - their highest ever level. Furthermore, this growth has accelerated since March, when Chinese imports reached a mere 20% of US clothing imports. The research believes American buyers returned to China after rising input prices and pay hikes had less of an impact on clothes prices than had been feared.

M&S shirt beats Savile Row

Thu, 20 Nov 2008 17:02:00 GMT

At last some good news for retailer Marks & Spencer: its made-to-measure shirt costing just GBP30 has proved to be a better fit than one costing more than five times that amount from a bespoke tailor on Savile Row.

In a snapshot test by consumer watchdog Which?, a shirt was ordered via M&S' online shirt tailoring service which asks the customer to supply his collar size, age, height and weight and uses 'biometric technology to work out the correct size and fit'.

This was compared with shirts, also ordered online, from The Tailor Store and 40 Savile Row, which ask for several more measurements.

M&S seems to have won by a whisker, since none of the shirts was particularly well-fitting. The 40 Savile Row shirt "lacked shape and had sleeves that were too long," and The Tailor Store's "was cut a little too snugly to allow for shirt shrinkage in the wash." So the one from M&S was deemed the winner, despite being "too big everywhere."

Perhaps not a glowing endorsement, but one that is sorely needed. The retailer today embarked on a one-day, one-off sale in which it cut clothing prices by 20% in an attempt to drum up business in the run-up to Christmas.

But canny shoppers have apparently used this as an excuse to take advantage of M&S' fabulous refund policy by returning Christmas gifts bought in the past few weeks and then buying the same thing again...but for 20% less.