Friday, September 9, 2022

Brands accused of still blocking worker safety improvements 10 years after Ali Enterprises fire in Pakistan

Foto: Clean Clothes Campaign In a press release on the tenth anniversary of the devastating fire at Ali Enterprises in Pakistan that killed 250 people, international NGO Clean Clothes Campaign (CCC) has accused the textile industry of not doing enough to improve standards despite numerous accidents, some of them fatal, in Pakistan's textile factories. In particular, fashion retailers H&M, C&A, Bestseller and Zara are at the centre of criticism for sourcing from factories that oppose the extension of the International Accord for Health and Safety in the Textile and Garment Industry (a successor to the Bangladesh Accord which was launched in response to the 2013 Rana Plaza disaster in Bangladesh). The Clean Clothes Campaign said it “stands united” with advocacy groups “around the globe to draw attention to the ongoing safety issues in factories in Pakistan and publicly call out brands like H&M, C&A, Zara, and Bestseller that are purposely delaying the expansion of the Accord that would protect worker safety”. The organisation said that although the Accord's senior staff have recommended the initiation of a programme in Pakistan, the brand representatives on the Steering Committee, including H&M, C&A, Inditex, and Bestseller “have refused to join their labour counterparts in supporting the initiation”. Instead, the brand representatives have “insisted on delay after delay, to the point where their posture suggests not caution, but willful obstruction”. As evidence of the continuing abuses, the Clean Clothes Campaign has published data showing recent incidents and ongoing safety risks in these brands' supply chains that could have been avoided or remedied by extending the agreement to the country, the NGO said. Ineke Zeldenrust of the Clean Clothes Campaign said: “Clean Clothes Campaign’s incidents report paints a scary picture of worker safety in Pakistan. But what is even scarier is that we don’t know the true extent of the safety violations in factories. “If brands were to stop obstructing progress and agree to allow the International Accord to implement independent factory inspections in Pakistan, we could start to understand the factory renovations and repairs that need to be done in order to protect worker safety.”
http://dlvr.it/SY35vV

Sneaker emporium Footpatrol celebrates 20th anniversary

Image: Footpatrol Before sneakers become a digital destination, before Hypebeast, Stockx and other sought-after sole providers, London had Footpatrol, a little sneaker emporium based in Soho. For its 20th anniversary, the company known for supplying the global sneaker fraternity with highly curated releases, is launching a physical and digital exhibition, a line-up of community talks and new brand collaborations. Charting its rise within sneaker culture A Blueprint exhibition will launch at Noho Studios on 10 September, marking its prominence within sneaker culture. Charting its collaborative history from inception on St Annes Court through to its current home on Berwick Street, London, and Rue Du Temple, Paris, the exhibition will spotlight the unique people and stories that have been part of its success. Footpatrol in an emailed statement to FashionUnited said: “20 Years for any retailer is a tough milestone to reach, especially after the last few years. We have seen some amazing brands pull down their shutters for the last time and for us to be still going is something we feel incredibly grateful for. From conceptualisation in St. Annes Court, to our present and prominent location in Berwick Street. Our Soho-based community has always been kind to us and supported us, and for that we are thankful. For this Exhibition we look forward to celebrating those special moments many of us have shared together, embracing the importance of community, and celebrating culture.” Showcasing its rich product chronology, the exhibition will unveil new anniversary styles and revisit rare archival pieces and unreleased samples. During the two-day event and installation at Noho Studios, Soho, defining collaborative projects including the iconic adidas Superstar 35th Anniversary, Asics Gel-Lyte 3 ‘Squad’ and Nike Air Epic styles will be displayed. From groundbreaking Nike collaborations to being the original UK adidas consortium stockist, much of what’s recognised as top-tier sneaker retail today originated with Footpatrol; including the first foray into the art world with KAWS. Underpinning Footpatrol’s three values of Community, Design and Culture, The Blueprint will see a series of daily programmed talks with industry pioneers. Launched in 2002, Footpatrol was the first hub for the London sneaker scene and continues to cultivate community today through local initiatives, such as the recent re.GENERATION workshops. Image: Footpatrol
http://dlvr.it/SY2bbk

Zumiez Q2 net sales decline by 18.1 percent

Zumiez Inc. net sales for the second quarter decreased 18.1 percent to 220 million dollars. Compared to the second quarter ended August 3, 2019, net sales decreased 3.7 percent. Net income for the quarter was 3.1 million dollars or 16 cents per diluted share compared to 24 million dollars or 94 cent per diluted share, in the second quarter of the prior fiscal year. Net income for the second quarter of 2019 was 9 million dollars or 36 cents per diluted share. Commenting on the trading update, Rick Brooks, chief executive officer of Zumiez Inc., stated: “As the second quarter progressed, we experienced continued pressure on our U.S. business as macroeconomic headwinds, led by inflation weighed on consumer discretionary spending. We are disappointed that our recent performance fell short of expectations and we are making adjustments to our merchandise assortments and managing expenses in order to improve near-term results.” Zumiez H1 net sales drop by 19.5 percent Total net sales for the six months decreased 19.5 percent to 440.7 million dollars and compared to the first six months ended August 3, 2019, net sales decreased 0.2 percent. Net income for the first six months was 2.7 million dollars or 14 cents per diluted share compared to 50.4 million dollars or 1.96 dollars per diluted share and compared to net income for the first six months of fiscal 2019 of 9.8 million dollars or 39 cents per diluted share. Zumiez expects negative trend to continue in Q3 Total third quarter-to-date sales for the 37 days ending September 5, 2022 decreased 18.1 percent. Compared to the 37-day period ended September 9, 2019, total net sales decreased 12.6 percent. Total comparable sales for the period were down 19.7 percent from the comparable period in the prior year, and decreased 15.3 percent from the comparable period in 2019. For the three months ending October 29, 2022, net sales are projected to be in the range of 220 to 228 million dollars. The company’s consolidated operating margins are expected to between 0.5 percent and 2.5 percent resulting in earnings per diluted share of approximately 3 cents to 18 cents. The company currently intends to open approximately 35 new stores in fiscal 2022, including up to 16 stores in North America, 14 stores in Europe and five stores in Australia.
http://dlvr.it/SY260l

Thursday, September 8, 2022

Tod's swings to H1 profit as revenue surpasses pre-pandemic levels

Image: Tod's, Facebook Italian luxury group Tod’s has swung to a first-half profit as its revenue surpassed pre-pandemic levels from 2019. In the six months to June 30, consolidated sales came in at 467.5 million euros, up 17 percent from the prior year period. Breaking it down by brand, sales at the group’s namesake label were up 24 percent to 233.5 million euros, at Roger Vivier they were up 5 percent to 118.7 million euros, at Hogan they were up 18 percent to 95 million euros, and at Fay they were up 17 percent to 19.6 million euros. Tod’s back in the black The group swung to a net profit of 0.8 million euros in the first half of the year from a loss of 20.7 million euros a year earlier. Tod’s CEO and chair Diego Della Valle said the board was “satisfied with these results, which confirm the appreciation for the outstanding positioning of our brands and the high quality of our products”. But he added that the company continues to closely monitor international markets which are currently “difficult and full of unknowns”, and pay the “utmost attention to the evolution of costs related to energy, logistics and raw materials”. He added: “We also consider as priorities the rationalization and efficiency of the distribution network and the development of the omni-channel channel, with the aim of increasing like-for-like and higher-margin turnover.” The trading update comes after the group’s founding family last month announced plans to cash out 344 million dollars to take the business private. The Della Valle brothers, who founded Tod’s back in 1978 and who currently own 64.5 percent of the business, have offered to buy its shares at 40 euros each, valuing the company at 1.32 billion euros.
http://dlvr.it/SXzsPG