What:Americans for Free Trade, a broad coalition of American businesses, trade organizations, and workers united against tariffs, will host a virtual discussion on Thursday, November 9, at 2 p.m. ET on the ongoing negative impacts of the China 301 tariffs on American businesses.

Who: The discussion will be moderated by Jonathan Gold, Vice President of Supply Chain and Customs Policy at the National Retail Federation, and will feature the following panelists:

Mike Mohler, EVP and Chief Purchasing Officer, Automotive Parts Services Group

Alec Pacini, Director of Operations, JSS Almonds...and others

Topics: The discussion will cover a range of topics related to the negative impacts of the China 301 tariffs, including:

The uncertainty tied to the tariffs and the need for a transparent exclusion process

The impact of retaliatory tariffs on exports

Expectations with the Office of the United States Trade Representative's four-year statutory review

Avery Dennison, a global leader in material science and digital solutions, has launched its Digital Product Passport as a Service (DPPaaS) to help brands comply with the upcoming EU regulations on Digital Product Passports (DPPs). Burton Snowboards is the first customer to use Avery Dennison's new end-to-end service, which provides brands with the consultation, hardware, software, digital ID technology, physical labels, and support services they need to meet the future DPP requirements.

DPPaaS is part of Avery Dennison's broader digital solutions portfolio, which connects the physical and digital worlds through its intelligent labeling and atma.io connected product cloud platform. DPP is a key component of the European Commission's Circular Economy Action Plan (CEAP), which will be phased in starting in 2027 across key sectors such as apparel, textiles, batteries, and electronics.

As an associate member of the CIRPASS consortium, which advises the EU on the implementation of the DPP scheme, Avery Dennison has unique insights into the digital solutions that brands need. Additionally, through atma.io, Avery Dennison tracks 30 billion items across global supply chains, collecting vital data for DPP, such as carbon footprint information, material origins, and reusability guidelines.

Avery Dennison's DPPaaS is a timely and innovative solution that helps brands prepare for the upcoming EU Digital Product Passport regulations. By providing brands with the tools and resources they need to comply with the new requirements, DPPaaS enables brands to continue to meet the needs of their customers and contribute to the circular economy.

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Tukatech, a leading provider of 3D fashion technology, has announced a partnership with EcoShot by Metail, a company that specializes in creating photorealistic digital models. The partnership will enable Tukatech's customers to showcase their 3D virtual garments on photorealistic digital models, eliminating the need for physical samples.

"This collaboration has tremendous potential to help companies eliminate the need for any physical samples and photography, and to produce only the products that have already sold, thereby reducing costs, inventory, and waste," said Geoff Taylor, President of TUKAweb.

TUKA3D users will have immediate access to a library of over 40 photorealistic digital models, thanks to the integration with EcoShot. This includes an assortment of real-life and AI-generated models of different genders, ages, measurements, and poses. TUKA3D users will also have the option to leverage generative AI and have bespoke fashion models created for them from their TUKA3D fit models.

"We are excited to offer TUKA3D users a digital way of showcasing their 3D garments on models with the right size and look for their brand," said Vikesh Shah, New Business Director of Metail.

The integration between TUKA3D and EcoShot is a significant development in the apparel industry, as it has the potential to revolutionize the product development process. By eliminating the need for physical samples, companies can save time and money, while also reducing their environmental impact.

Sephora, the world's leading omni-channel prestige beauty retailer, and Reliance Retail, India's largest retailer, have announced a partnership to accelerate the transformation of the beauty retail landscape in India. The partnership gives Reliance Retail exclusive rights to build and enhance Sephora's presence in India across channels.

The Indian beauty and personal care market is valued at USD 17 billion and is projected to grow at a CAGR of 11%, making it one of the largest and fastest-growing markets in the world. Sephora's unique brand and product curation capabilities, combined with Reliance Retail's deep consumer insights and unparalleled customer access, position the partnership to capitalize on this significant growth opportunity.

The partnership will enable Sephora to expand its reach and impact in India, offering consumers a wider selection of high-quality beauty products and experiences. It will also help Reliance Retail strengthen its portfolio of offerings in the beauty and personal care segment, delivering greater value to its customers.

Overall, the partnership between Sephora and Reliance Retail is a win-win for both companies and is poised to elevate the beauty retail landscape in India.

The Lenzing Group, a global leader in specialty fibers for textiles and nonwovens, is grappling with an unexpected downturn in its markets. The surge in raw material and energy costs, coupled with sluggish demand, has cast a shadow over the company's performance. In the first three quarters of 2023, Lenzing reported a 5.3% drop in revenue, landing at EUR 1.87 billion, primarily attributed to decreased fiber revenues.

The harsh market environment led to a 16.7% year-on-year decline in earnings before interest, tax, depreciation, and amortization (EBITDA), down to EUR 219.1 million. The net result after tax dipped to a deficit of EUR 96.7 million compared to a profit of EUR 74.9 million in the same period last year.

In response, Lenzing initiated a cost-cutting program in late 2022, generating a positive free cash flow of EUR 27.3 million in Q3 2023. The company aims to enhance its long-term resilience through a comprehensive performance program, including annual cost savings exceeding EUR 100 million and reductions in personnel costs.

The "Better Growth" strategy, emphasizing eco-friendly specialty fibers, remains on track. Lenzing has marked significant progress in converting production lines to meet sustainability goals. However, external factors, including pandemic repercussions, geopolitical tensions, and extreme weather events, pose challenges to future growth.

Despite these uncertainties, Lenzing remains committed to its transformation towards a circular economy model, expecting an EBITDA for 2023 between EUR 270 million and EUR 330 million, as it navigates the evolving economic landscape.

Net sales for the third quarter came in at $870 million, up 2% over the prior year.

Activewear sales were essentially flat during the quarter, while Hosiery and underwear sales were up 16%.

Gross profit was $239 million, or 27.5% of sales, down $13 million and 220 basis points, respectively, versus the prior year.

SG&A expenses were flat year over year, at 9.5% of sales.

Operating income was $155 million, or 17.8% of sales, and adjusted operating income was $157 million, or 18.1% of sales, down respectively 270 and 190 basis points compared to the prior year.

GAAP diluted EPS and adjusted diluted EPS for the quarter were $0.73 and $0.74, respectively, both down from $0.84 in the prior year.

Cash flows from operating activities in the third quarter totaled $305 million versus $66 million in the prior year.

Free cash flow was $265 million, compared to the use of $7 million of free cash flow in the prior year period.

Year-to-date Operating Results

Net sales for the nine months ended October 1, 2023, were $2,413 million, down 4% over the same period last year.

Activewear sales were down 7%, while Hosiery and underwear sales were up 10%.

Gross profit was $644 million, down $114 million versus the prior year.

SG&A expenses were $242 million, $11 million below prior year levels.

Operating income was $466 million, or 19.3% of sales.

Adjusted operating income was $398 million, or 16.5% of sales, down $105 million, or 350 basis points year over year.

GAAP diluted EPS and adjusted diluted EPS for the first nine months were $2.14 and $1.82 respectively, both down from GAAP diluted EPS and adjusted diluted EPS of $2.46, in the prior year.

Cellulose fibres are a sustainable alternative to plastics, and the Cellulose Fibres Conference 2024 will showcase the most successful solutions based on cellulose fibres that are currently available on the market.

The conference will also address the growing demand for sustainable materials in the disposable sector, as well as the increasing use of cellulose fibres in non-wovens, packaging, and hygiene products.

In addition to the environmental benefits, cellulose fibres also offer a number of other advantages.

Better Cotton, the world's largest cotton sustainability initiative, has launched a first-of-its-kind traceability solution for the fashion and textile sectors. The solution will provide visibility of cotton's journey through the supply chain and enable companies to accurately trace and disclose the origin of raw materials.

Companies are increasingly expected to verify the origin of raw materials and address the potential adverse effects of their activities on human rights and the environment. Better Cotton's traceability solution will give companies confidence that they are sourcing product from a specific country and establish greater supply chain visibility.

Traceable Better Cotton is defined as the 'physical' Better Cotton within a cotton-containing product that has been tracked through the supply chain. It differs from Better Cotton's Mass Balance Chain of Custody model, which tracks the volume of cotton produced and ensures this never exceeds the volume of cotton sold.

Suppliers will log transactional information on the Better Cotton Platform to track where Better Cotton has originated from and how much is within a product. Traceability will span the cotton ginning stage right through to the retailer or brand.

Better Cotton's Chief Executive Officer, Alan McClay, commented: "Traceability at scale for cotton will drive a seismic shift within our industry's supply chains. Better Cotton's traceability solution is poised to help the industry deliver that shift. Never before has transparency been as imperative as it is now to our retail and brand members."

Katharine Beacham, Head of Materials and Sustainability at Marks & Spencer, said: "We're delighted to be part of this first-of-its-kind solution which will enable us to track our cotton at scale along the supply chain."

Better Cotton's traceability solution is a significant step forward for the cotton industry and will help to drive more sustainable and transparent supply chains.

Kontoor Brands, Inc. (NYSE: KTB), the global lifestyle apparel company known for its iconic brands Wrangler® and Lee®, reported Q3 2023 financial results. The quarter showcased robust revenue growth and profitability, exceeding expectations when excluding a duty charge. Their strategic brand investments drove growth in U.S. point-of-sale (POS) and market share in core U.S. wholesale, along with a strong quarter in Direct-to-Consumer (DTC).

An innovative exhibition named "News From The Future" involved students from Dutch art and fashion schools who participated in the "Classroom of the Future: the Stories Behind Cotton" program, emphasizing sustainability and bridging the MBO and HBO educational gap.

Q3 revenue reached $655 million, showing an 8% increase, with U.S. revenue at $506 million (a 12% increase) driven by strong U.S. wholesale and DTC, while international revenue was $149 million (a 4% decrease due to lower wholesale in China).

The Wrangler brand achieved global revenue of $445 million (9% increase), and Lee brand earned $208 million (5% increase). However, the gross margin decreased to 41.5% due to a duty charge and inventory management actions. Adjusted EPS is expected to be approximately $4.35 for 2023, with a focus on increasing cash generation.

The Chairman of the All Pakistan Textile Mills Association Southern Zone, Zahid Mazhar, has vehemently opposed the recent substantial surge in gas tariffs for export-oriented industries, emphasizing its potentially devastating consequences for the already struggling textile sector. 

The unprecedented 118% increase in gas prices, soaring from Rs. 1,100/MMBTU to Rs. 2,400/MMBTU, is expected to inflict further damage on Pakistan's exports, particularly in the textile domain. This price hike disproportionately affects textile industries in Sindh and Balochistan compared to those in Punjab. It deviates from earlier assurances that natural gas tariffs for export process and export captive industries would be equivalent, introducing a discriminatory price difference of Rs. 300/MMBTU.

Mazhar highlighted that this gas tariff surge, coupled with high electricity costs, poses a severe threat to an industry already grappling with exorbitant markup charges and input expenses. While the Oil and Gas Regulatory Authority (OGRA) had recommended a modest increase of Rs. 250/MMBTU, the government opted for a staggering Rs. 1,300/MMBTU hike, raising doubts about its commitment to supporting the export sector.

He expressed concern about the underutilized capacity of textile industries in Sindh and Balochistan due to gas supply shortages, leading to a loss of around 20% in exports. The soaring gas prices could force these industries to shut down, leading to increased unemployment and potential social unrest. 

Mazhar urged the government to focus on eliminating gas theft and leakages to reduce the gas circular debt instead of raising prices. He also called for attention to reducing Unaccounted for Gas (UFG) and criticized the burden of cross-subsidies falling on the export sector. He appealed to the government to reconsider the gas price increase to prevent further harm to Pakistan's deteriorating economy.