Up from head to toe during the whole week, the FashionUnited
Top 100 Index closed Thursday in 1113.43 down by 2.07 points, losing the 1115.5 points conquered the previous day.
With Nike and Under Armour pursuing the best sportsmen to sign them in onboard and continuing with the sportswear, JD Sports Fashion has shown fully athletic skills, setting precedent in how to recover from a big fall in just one day: after losing near to 17 points on Wednesday, it gained another 15 yesterday. Also good news for Danish label IC Companys, with a final increase of 2.25 points, and Next, up by 6.
Worst performance of the day was the Ted Baker’s, as the British posh high street fashion house fell by 20 points.
G-III Apparel Group, Ltd. and The Camuto Group today together announced the formation of a joint venture that will open and operate footwear and accessory retail stores under the name "Vince Camuto". Soon after unveiling this plan, its shares went up by 1.84%, reaching a new 52-week high and clearly showing why investors are enthusiastic about the firm's prospects.
Dress Barn Inc.'s fiscal fourth-quarter profit jumped 64% as the women's apparel retailer benefited from the inclusion of sales at its Justice brand, which it acquired last year, as well as across-the-board productivity improvements. But adjusted earnings missed Street estimates.
Chinese textile and clothing exports increased by 15.6% in the first four months of 2010 after declining by 10.1% in 2009. Chinese exports to the USA, in contrast to the general trend, rose by 4.1% in 2009 but those to the EU fell by 7.3% and to Hong Kong by 12.8%. Production in China grew at a good pace in 2009 and continued to increase in the first half of 2010.
Finally, and according to the American National Retail Federation, the new spending powerhouses this season aren't the predictable target market of moms and incoming college freshman. Therefore it will be likely to find that top shoppers this back-to-school season are established male college students, dads and those who buy online.