USA : Record breaking third quarter for Urban Outfitters - Apparel News USA

Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, Free People, Terrain and Urban Outfitters brands announced earnings of $62 million and $142 million for the three and nine months ended October 31, 2009, respectively. Earnings per diluted share were $0.36 for the quarter and $0.83 for the nine months ended October 31, 2009. As stated in the Company's previous sales release on November 5, 2009, for the third quarter of fiscal 2010, net sales increased by 6% over the same quarter last year to $506 million. Comparable retail segment net sales, which include our Direct-to-consumer channels, increased 2%. Comparable store net sales at Anthropologie rose 3% while Free People and Urban Outfitters declined 13% and 5%, respectively. Comparable store net sales declined 2%. Direct-to-consumer net sales jumped 21% and Wholesale Segment net sales declined 10%. "We are proud to announce a record breaking quarter and a solid 19% operating margin," said Glen T. Senk, Chief Executive Officer. "We continued to exhibit exceptional inventory and expense discipline while simultaneously making strategic investments in design, supply chain, technology, Direct-to-consumer initiatives and our European infrastructure. These results highlight our ability to deliver compelling merchandise and a unique shopping experience under difficult market conditions," finished Mr. Senk. For the three months ended October 31, 2009, gross profit margin increased by 65 basis points, versus the prior year's comparable quarter. This increase was primarily due to significant improvements in initial merchandise margins, which were partially offset by increased merchandise markdowns to clear seasonal inventories. For the nine months ended October 31, 2009, gross profit margin decreased by 69 basis points, versus the prior year's comparable period. This decrease was primarily due to merchandise markdowns to clear seasonal inventories and a higher rate of store occupancy expense driven by the decrease in comparable store sales. This decrease was partially offset by improvements in initial merchandise margins. As of October 31, 2009, inventories decreased by $18 million or 8%, on a year-over-year basis as comparable store inventory declines more than offset additions to inventories for new stores. Total comparable store inventories decreased by 15% at cost and 8% in units leaving the Company well positioned for the upcoming holiday season. For the three and nine months ended October 31, 2009, selling, general and administrative expenses, expressed as a percentage of net sales, increased by 63 and 79 basis points, respectively, versus the comparable periods last year. The increases were primarily due to the deleveraging of fixed store costs related to the decline in comparable store sales as well as the accrual of additional incentive-based bonus related to our expectation to meet targeted improvements in annual performance and earnings.

India : Two handloom parks to be set up in Tamil Nadu - Textile News India

The Union Textiles Minister Mr. Dayanidhi Maran said that the centre has approved funds for two handloom parks to be established in the state of Tamil Nadu.It has ear-marked Rs. 7 million for the proposed handloom cluster in Virudhunagar and Rs. 4 million for a similar park in Kanchipuram. He informed while addressing media professionals, following the inaugural ceremony of a national level exhibition-cum-sale of silk products, ‘Silk Fab-2009’.The required land for both the handloom parks has already been allocated. The establishment of the Park at Virudhunagar would take 3 to 4 months to start, while the work on Kanchipuram park will commence in one or two months. Around 40 textile parks have been approved by the central government to be set up across the country, 10 of which have been proposed in Maharashtra, seven will be established in Gujarat, six each in Tamil Nadu & Andhra Pradesh, and four in Rajasthan, among others.Each of these parks would have 50 textile units, added the Minister.

Russia : JeanShow 2010, big choice of trademarks and brands - Apparel News Russia

The JeanShow is held on 18-20 January 2010 in Moscow, exhibition centre Expocentr. This is a unique exhibition in Russia which covers the sector of outdoor activity clothing and the whole variety of jeans brands and trademarks. In the 7th International exhibition of Outdoor Activity Clothes “JeanShow” will take part more then 60 leading manufacturing and trade companies from Russia, Turkey, Ukraine, Byelorussia, Lithuania, Latvia, China, India and others. The visitors of the exhibition will have the possibility to see new tendencies in the presented clothing sectors, to match the necessary wardrobe among the exhibition samples. 80% of the participants – the manufacturers will offer a wide range of goods in the following exhibition sectors:•Jeans clothes;•Casual clothes;•Fabric clothes;•Accessories.The subject of the exhibition is interesting for a big audience as there presented the most popular trends of outdoor activity clothing for people who love the freedom of expression. This practical, comfortable, fashion clothes are an essential part of a wardrobe for all ages and millions of buyers. After visiting JeanShow you will have the opportunity to be on one ground with manufacturers and buyers of style clothes from different countries. JeanShow – a big choice of trademarks and brands which you will never see in any one shop. Resulted by the previous exhibition JeanShow, 75% out of total visitors were the representatives of wholesalers’ and distribution companies, huge regional chains, and shops from 36 Russian cities, as well as ultimate customers of clothing. Since 2010 the JeanShow exhibition has been changing its format by introducing the B2B system of goods’ and services’ promotion within the framework of the exhibition. JeanShow has existed from 2005, it is distinguished by the high organization level. The participants and visitors have an access for free services: interpreter service, internet access, coffee-break. At the exhibition there are the events that are of interest for both: exhibitors and visitors. We are sure that the 7th International Exhibition of Outdoor Activity Clothes “JeanShow” will encourage ability of getting the real commercial profit, concluding new contracts, improving trade channels on the territory of RF.