American Apparel Raises ‘Going Concern’ Doubts as Losses Mount | News & A... LOS ANGELES, United States — American Apparel Inc. said it may not be able to sustain operations as a going concern for the next 12 months, even after the clothing chain increased its credit line. A group of lenders, including hedge fund Standard General, replaced its $50 million credit facility with a larger $90 million one, the Los Angeles-based retailer said on Monday. The company said last week that Standard General intended to take this step. The clothing maker has been in turmoil since it suspended and then fired founder and Chief Executive Officer Dov Charney for alleged misconduct. Charney, who was replaced as CEO by Paula Schneider, has sued over his ouster and said the allegations against him are baseless. The retailer also on Monday confirmed second-quarter results that it reported on a preliminary basis last week. As of Aug. 11, the chain had $11.2 million in cash. The company declined to comment beyond the filing.
Women's Clothing Industry Market Research & Statistics Global Women’s Clothing Industry The global women’s clothing industry is expected to exceed $621 billion in 2014, marking a 12% increase in five years, reports MarketLine. Clothing retailers account for the largest share of the market at almost 65% in terms of value. The EU represents more than 35% of the global market, which encompasses formalwear, essentials, active wear, outerwear and casual wear. Major drivers of the world womenswear market include fashion, with shoppers eager to keep up with the latest trends, consumer confidence and rising income levels. As consumers made less purchases during the economic recession, retailers currently find themselves with a product surplus. Regional Markets The US womenswear industry was severely affected by the housing and economic crisis. Key Market Segments The world bridal wear industry is expected to reach almost $57 billion by 2015, according to Global Industry Analysts. Market Outlook Leading Industry Associations More »
Global Recession Impacts on Fashion Industry: Strategies for Survival The whole world is facing global recession. The economy is slowing, the business environment is unpredictable and the consumers are getting increasingly diverse, informed, technologically strong and demanding. The global meltdown has, in no way, spared the fashion industry. This industry, along with other textile products industry, is also feeling the pinch of financial adversity. The Fashion Industry The fashion industry can be termed as complicated with no standard for defining fashion companies. Impacts of Recession on Global Fashion Industry The trends all over the world is that of rising unemployment, credit squeeze and plummeting home budgets. Many big names in the fashion industry are facing financial problems, many of whom have even declared their negative condition. Consumer spending has got lower resulting in pressure on retailers' margins.
UK retail sales volumes dip in June - BBC News UK retail sales volumes fell unexpectedly by 0.2% in June, after consumers bought fewer household goods, and less food and petrol. The figures from the Office for National Statistics (ONS) also showed the annual rate of sales growth slowed to 4.0% last month from 4.7% in May. That was the slowest annual growth rate since September 2014, and was below analysts' forecasts. However, the ONS said the annual growth rate was still "strong". Sales volumes in the April-to-June quarter were up 0.7% from the previous quarter. The value of online sales in June increased by 1.4% compared with May and accounted for 12.4% of all retail sales. Howard Archer, chief UK and European economist for IHS Global Insight, said June's sales data was "a little disappointing" but added that the figures were "not a body blow to improved second quarter growth hopes". Many analysts have been expecting retail sales to do well, with recent statistics showing wage increases are picking up while inflation remains near zero.
Manchester Named The Best City In The UK To Live In Manchester has been named as the best UK city to live in. It was the only city in the country to make the top 50 in the annual Global Liveability Survey, which is compiled by the Economist Intelligence Unit. Manchester jumped from 51st the previous year into 46th place. The survey rates cities out of 100 on a combination of factors, including health care, education, stability, culture and environment and infrastructure. London came in at number 53, and the highest ranking European city was Vienna. Melbourne, Australia, was voted as the world's most liveable city for the fifth consecutive year. MORE: Here Are The Cheapest Cities In The World To Buy Beer In MORE: A Canadian City Is Close To Completely Ending Homelessness Andrew Stokes, chief executive at Marketing Manchester, said he was not shocked to see Manchester top the UK list. Credit: Duncan Hull The five most liveable cities 1. 2. 3. 4. 5. The five least liveable cities 1. 2. 3. 4. 5. Credit: Tecmark
The fashion business - BBC News Image copyright AFP We know that clothing is big business, but it may be surprising just how big. The fashion industry's contribution to the British economy is an estimated £26bn - that's twice the size of the car industry's and nearly as big as the contribution from housing, according to the British Fashion Council. It is not just dresses and handbags, but also design and manufacturing that make the sector the largest part of the so-called creative industries, which include marketing, etc. It's an important part of the services sector that makes up around four-fifths of the economy. I wrote then that it was a tougher sector to picture than say manufacturing cars which is tangible. But a couple of times a year during London Fashion Week, it is visible as models wear dresses that embody design as they sashay down the catwalk. In the five days of London Fashion Week, about £100m of orders are placed for that season. It's also an industry that has taken to social media to reach that market.
H&M opens first Australian store amid concerns over fast fashion By Clare Rawlinson Updated The opening of fashion behemoth H&M's first Australian store has been welcomed by thousands of eager shoppers, but others in Australia's struggling retail sector have expressed concern. The Swedish label is one of the key players in the "fast fashion" movement, where production cycles are fast and prices are low. Its 4,500 square metre, three-storey shop in Melbourne's iconic GPO building opened on Saturday and came on top of 1,600 existing stores in 53 countries worldwide. H&M country manager Hans Andersson says the company targeted Australia because it was the "last part of the world [they] had left over". Mr Andersson says H&M's store will benefit from Australians being relatively well travelled. "We did a survey here last year and it showed that with zero stores at that point, we were more well-known here than in the US, where we have 300 stores and have been around years," he said. H&M uses buying power to supply fast-fashion model
Life Just got a lot Worse for People living in Gaza The humanitarian crisis in Gaza just took a turn for the worse. As if life couldn’t get any worse for the millions of innocent civilians caught in the Israeli-Hamas conflict, an Israeli airstrike hit Gaza strip’s last functioning power plant yesterday. (pictured above) The only other sources of electricity residents in Gaza had access to — power lines coming from Israel — have been severed since fighting began weeks ago leaving only two of eight still functioning. What does this mean? This means that many of the 1.8 million innocent people that live in the Gaza strip will be without basic resources such as electricity, and perhaps even more concerning, clean water. According to the Washington Post, “The plant is Gaza’s primary source of electricity, powering sewage treatment systems, water pumps and hospitals, said Dardasawi, the Palestinian official. Twenty more innocent people were killed when Israel bombed a school on Wednesday, which the U.N. said violated international law.
Not one British city made it into the top 50 best cities to live It seems our tiny corner of the planet isn’t all that great. Not a single British city was included in the list of the top 50 best places in the world to live in 2015. ‘Best’ places should not be confused with ‘happiest’ places (although we’re probably not on that list either). ‘Best’ refers to the best quality of life, which was measured based on 30 qualitative and quantitative factors spread across stability, infrastructure, education, healthcare and environment. MORE: Chelsea ‘enter talks over Alexandre Lacazette transfer’ The Top 50 Melbourne, Australia, took the top spot for the fourth year in the row, and Adelaide, Sydney and Perth were also in the top 10. The top cities are usually mid-sized with relatively low population densities in wealthy countries. Social unrest and poor transport infrastructure have contributed to London’s descent down the rankings in the last few years. MORE: Passenger ‘has his ear bitten off’ on flight from Newcastle to Ibiza
Primark to enter US market with Boston store | Business Primark, the fashion store that brought the £3 jumper dress to the British shopper, is to open in the US as it attempts to become a global chain. The budget retailer, owned by Associated British Foods, will open its first store in Boston, Massachusetts, in 2015 and said it was in negotiations to open up to eight further stores in north-east America, with warehousing to support them. America has proved to be a leap too far for most UK retailers: Marks & Spencer, WH Smith, Sainsbury's and, most recently, Tesco have all seen their stateside ventures founder. However, fashion chains Topshop and Ted Baker have found favour with US shoppers. Primark said it had decided to take its concept to the US after extensive research. Primark has defied the recession to become one of the fastest-growing retail businesses in western Europe. "We think we have as differentiated and attractive a proposition in the US as we have in continental Europe and the British Isles. HMV Sold its last US outlet in 2004.