Hanesbrands has raised its revenue targets for 2024. The company expects to surpass the $8 billion revenue mark by this year, from prior goal of $7.4 billion. It expects sales at Champion brand to reach $3.4 billion for the same time period. In addition, it expects to have a cumulative three-year free cash flow of about $1.6 billion by 2024.

Hanesbrands’ revenues from activewear segment continue to increase year-over-year despite the pandemic. As per a Woman’s Wear Daily report, its total activewear sales increased 11.4 percent, or $46 million, during the quarter, year-over-year. For the full year, activewear sales rose nearly 42 per cent to nearly $1.7 billion. The firm logged more than $60 million for the quarter, or $77 million for the year. Hanesbrands’ global sales of innerwear remained roughly flat in the last three months but continued to be dominated on the strength if men’s, women’s and children’s divisions, as well as socks. Its, overall innerwear sales fell in 2021, compared with prior year, on account of HanesBrands’ decision to exit the PPE category early last year.

Steve Bratspies, CEO says, the company is implementing a three-year, $600 million stock repurchase program based on its confidence in future growth. It also plans to sell its US Sheer Hosiery business for an undisclosed amount. The transaction is part of the group’s continued efforts to focus on areas of the business with the greatest growth potential.

Muhammad Ayub, President, Bangladesh Cotton Association says, stakeholders in the Bangladesh’s garment industry and the concerned ministries need to take various steps to clear current container backlog and ship congestion. They need to consider roads and railways as means of import alongside the shipping routes. Stakeholders also need to make efforts to ensure supply of cotton through diplomatic contacts and trade cooperation agreements with various cotton producing countries, says Ayub. They need to focus on global cotton production, use, etc by forming a high-powered committee of Bangladesh Cotton Association, Bangladesh Textile Mills Association, Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Knitwear Manufacturers and Exporters Association and the ministries of textiles, commerce, agriculture and foreign affairs, he adds.

Currently, Bangladesh imports cotton from different West African countries besides Australia, Brazil and the United States. According to the data provided by the International Cotton Advisory Committee, global cotton production increased 9 per cent in 2020-21, while its consumption increased by 20 per cent. Moreover, freight rate increased 3-4 times when international trade reopened after almost coming to a halt due to the COVID-19 pandemic. All these factors contributed to the increase in cotton price in the international market.

The real turnover of Germany’s textile and clothing retailers increased by 0.7 per cent in 2021 while their nominal turnover increased 2,9 per cent., show provisional results of the Federal Statistical Office (Destatis). Retail turnover of textiles, clothing, footwear and leather products, declined during the year as compared to 2020. In December 2021, real turnover of Germany’s retailers declined 5.5 per cent while the nominal turnover declined by 4.9 per cent over the November figure after calendar and seasonal adjustment.

The first provisional results reported are thus within the estimated intervals, said Destatis.

Launched by Informa Markets Fashion, The 2022 edition of Informa Markets Fashion for Change incubator program will highlight Black-owned businesses. Known as Project Las Vegas, the program will be held at the Las Vegas Convention Centre from February 14-16, 2022. Brands attending the program will be highlighted in custom content, marketing, and social media promotions leading up to and throughout the trade show.

As per a Sourcing Journal report, the program was launched by Informa Markets Fashion, the owner of upcoming trade shows Magic, Coterie, Project and Sourcing at Magic, in 2020 to foster allyship, inclusion, and equality within the fashion community. Brands Todd Patrick, Kwasi Paul, Carlton Jones, etc have joined the program.

Adrienne Yih, Analyst, Barclays says, Gap’s earnings per share is likely to decline 142.86 per cent in Q4 FY 2021. According to the Zacks Consensus Estimate, the company will generate sales of $4.53 billion for the fourth quarter of 2021, up 2.46 per cent from the year-ago period. As per a Womans Wear Daily report, Barclays has lowered its 2021 fourth-quarter stock price target for Gap to $15, from last year being targeted at $28. The company’s stock and image have been impacted by several factors like frequent changes in management and products. Its stock dropped 4 points in pre-market trading after Barclays lowered its rating to “equal weight” from “overweight” and closed Thursday at $17.11, down 3.2 percent, or $0.5,7 from Wednesday’s closing of $17.68.

Yih cites deeper promotions at Gap Inc.’s Old Navy, Gap and Athleta brands and the corporation’s exposure to households with incomes under $75,000, as reasons for this decline. Barclays also noted that Gap Inc. this year won’t have the benefit of last year’s government stimulus checks, a headwind facing all retailers. Its third-quarter net sales of $3.9 billion declined by 1 percent compared to 2019 with supply chain disruption driving an estimated 8 percentage point negative impact due to constrained inventory. Comparable sales increased by 5 percent from 2019.

UK’s largest and longest running wholesale marketplace encompassing the best in home, gift and fashion, the Spring Fair will re-launch of the Power of One campaign and a renewed focus on sustainability with an impressive number of sustainable and ethical brands showing. The fair will be held from February 06, 2022-Febraury 10, 2022 It will showcase thousands of new products and innovations.

Successfully launched in 2018 by Hyve Group’s fashion trade show Pure London to galvanise the fashion industry into taking collective action, the Power of One initiative is being adopted across all of Hyve Group’s B2B events in the form of three powerful pledges created to help energise retailers to take small steps to change the world, their mental health, and their environment.

Visitors to Spring Fair will be introduced to the Power of One pledges on activation walls which also enable donations to Spring Fair’s wellbeing and charity partner the Retail Trust in support of the Checking In pledge. Power of One pillars explain the powerful pledges and enable visitors to make their own pledge. There will be bins at all entrances for visitors to recycle their show badge. The bins are set up as a voting system so visitors can choose where to post their badge and it will vote for the pledge they want. Pre-registered visitors have been asked to bring their own reusable water bottles and use the water stations positioned round the show

The consolidated net profit of homes textiles major Welspun India declined to Rs 131.06 crore during the third quarter ended December 2021. The company had posted a consolidated net profit of Rs 174.8 crore in the same quarter last fiscalIts consolidated total income in the third quarter increased to Rs 2,437.92 crore from Rs 2,049.71 crore in the same period last fiscal, it added.

Total expenses increased to Rs 2,234.95 crore as against Rs 1,800.83 crore in the year-ago quarter. BK Goenka, Chairman, says, the company witnessed strong performance in the home textiles segment with 19 per cent year-on-year growth with the segment poised to cross $1 billion revenues in this fiscal year."

However, increasing input costs, rising energy prices and global logistics issues continued to weigh on the margin front, he adds.

The next edition of the contemporary womenswear show Scoop x Pure will is scheduled to be held at the Truman Brewery London from February08-10, 2022. As per a Spin Off report, event will showcase a wide variety of premium and ready-to-wear womenswear and accessories collections from designers including Feri, Sancia, Louise Hendricks, Pom Amsterdam, Primrose Park, Goldfinch, DATE, Lemon Jelly, Copenhagen Studio, and Supa Snug.

The show will also mark the debut of several new brands including Way Out, Lam, BlankaPukara, Mou, Norr Copenhagen, Odd Molly, Caroline Svedbom, BRGN, Van Kukil, Karl Donoghue, DeaKudibal, Young Poets Society, Smith and Goat, Neon Denim Brand, Esmé Studios, Laidback London, and Thinking Mu.

Some of these brands will showcase sustainable and ethically-made collections, while others willpresent their products’ craftsmanship and handmade quality. For instance, there is Esmé Studios, a lifestyle brand, will showcase its combination of selected eco-friendly materials with comfort-driven design, and produced in an ethical and socially responsible way, according to the rule “buy less, buy better”.

Inspired by colorful cultures, brand Laidback London will showcase handmade boots by small groups of artisans using traditional techniques. Each pair of these bootsreflects the unique workmanship of its creator. Natural materials including leather, sheep wool and crêpe rubber, and the brand’s signature crochet detailing features characterize its fall/winter 22 collection in new, contrasting colorways.

Launched in 2021, Young Poets Society will showcase gender-fluid and constantly evolving clothes while Caroline Svedbom will showcase exclusively handmade collections crafted at a family run studio in Athens, Greece, and currently stocked in Harvey Nichols, Bloomingdales, and Galeries Lafayette.

Karl Donoghue will showcase multi seasonal layers of showerproof cotton, cashmere knit, shearling and leather integrated in an ethereal palette by atmospheric elements around us. The collection will also include a wide selection of accessories including hats, gloves and scarves.

Owner of brands Wrangler and Lee, leading global lifestyle apparel company Kontoor Brands has announced a new supply chain coalition of denim leaders to improve critical data incorporated into the Higg Material Sustainability Index (MSI), the apparel industry’s most widely used tool to measure and assess the impact of products on the environment.

As a part of these efforts, Arvind Limited, India’s leading lifestyle and fashion conglomerate, and Cone Denim, a global leader in denim authenticity and sustainable innovation, will share key data from the denim dyeing process that is currently not factored into the Higg MSI.

The companies plan to roll out the updated Higg MSI tool for all apparel brands by summer 2022.

DhruvAgarwal, Senior Director - Global Innovation, Sustainability, and Product Development, Kontoor Brands says,Higg MSI is an invaluable tool for assessing the environmental impact of processes and materials utilized in its products. Through this work, the industry will be able to have a more complete picture of denim’s impact, and our product development teams will have better insight into the environmental footprint of our products, empowering us to make more sustainable design choices.”

Kontoor, Arvind and Cone are committed to building upon the denim-related information within the Higg suite of tools to further standardise measurements of value chain sustainability and provide greater transparency to apparel companies during product design and development.

During the July-January period of FY 2021-22, earnings from Bangladesh readymade garments (RMG) exports grew by 30.3 per cent to $23.98 billion, shows data from Export Promotion Bureau.

Earnings from knitwear exports grew by 32,89 per cent to $13.27 billion while those from woven products exports grew by 27.23 per cent to $10.71 billion as per a Textile Today report.

Faruque Hassan, President, BGMEA, opines, the growth in garment exports will continue as the apparel industry has had more work orders this year compared to last year.

Home textile exports also grew by 30.1 per cent to $831 million during the period while exports of specialized textiles reached a value of $216 million from $76 million in the last fiscal.