Retailer´s performance monitored as recovery signal

Friday, 20 August 2010

Yesterday was one of those days fashion business showed itself as much more than a mere array of trends and designs. Despite the FashionUnited Top 100 Index was 1024.73, down by 222.96, and as it could be seen in the US stock market, retailers' results are being monitored for signs of life among consumers, especially given the approach of the holiday shopping season. The consumer-discretionary sector led the S&P 500's gains, as Target and Chico's boosted other retailers. When women's apparel retailer Chico's FAS, which also operates the Soma Intimates and White House/Black Market chains, gained value by 59.01% on second-quarter profits that more than doubled -beating analysts' expectation, foe Ann Taylor dropped 0.32%.

In Great Britain, Next surged 5 points, becoming the best company under the Union Jack on Thursday, as Ted Baker lost 4 points, JD Sports Fashion 8, ASOS another one and French Connection devalued by 3.77%. The rest of European fashion stocks were also moving, but constrained to more narrow parameters, as shown by LVMH with a grow of 0.12% or H&M, up by 0.17%.Puma AG was one of the worst in the Old Continent, falling 3.05 points, while Burberry Group lost 2 points.

Asian markets offered a bittersweet landscape with Japanese quoted companies leading the Easter stock exchanges, exception made of Asics Corporation that lost 4 points and as opposed to Onward Holding, which gained 4, United Arrows, with 22 points up and Fast Retailing with became one of the main characters of the last session, with a hike of 30 points. In India House of Pearl and Provogue India performed shyly well, with increases of less than 0.5 per cent each one.

Finally, textile and clothing firms around the world are preparing themselves for more disruption to cotton supplies and a possible rise in garment prices after the worst floods in decades hit Pakistan's cotton industry, squeezing companies just as they head into the summer buying season.

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