The world’s top cotton buyers, all in Asia, are flocking to India to secure supplies after fierce storms in the United States, the biggest exporter of the fibre, affected the size and quality of the crop, dealers said.
Amazon.com Inc is preparing to open a 1 million square-foot warehouse near Mexico City, sources familiar with the project said, part of an effort to boost its presence in Mexico’s nascent e-commerce industry.
United Nations sanctions on North Korea’s important textiles industry are expected to disrupt a business largely based in China and pose compliance headaches for clothing retailers in the US and around the world.
Industry-wide retail sales in August and September will fall in the wake of hurricanes Harvey and Irma, with apparel retailers such as Gap Inc expected to take a longer-term hit than restaurant operators.
Target Corp said on Friday that it lowered prices on thousands of items, from cereal to baby formula, further hurting retail stocks already pressured by Kroger Co’ disappointing quarterly results spurred by price cuts.
Asda, the British supermarket arm of Wal-Mart, is to cut 300 jobs at its offices in Leeds, northern England, and Leicester, central England, seeking to cut costs to stay competitive, it said on Wednesday.
Wal-Mart Stores has begun its holiday layaway program as it hopes to cash-in early on demand for gifts like toys, which saw slower sales growth industry-wide last December and has struggled to pick up so far this year.