Tesco has delivered a record Christmas across all formats and channels and expects to deliver full-year retail operating profit in line with 2019/20, excluding the repayment of business rates relief - despite forecasts for annual Covid-19-related costs to hit GBP810m (US$1.1bn).
The US trade deficit in goods and services rose by 8% in November from a month earlier, reflecting an increase in the goods deficit of US$5bn and a decrease in the services surplus of less than $0.1bn.
Online clothing, footwear and homewares retailer N Brown Group says it is trading in line with expectations after product revenue continued to recover in the third quarter - with strong growth in apparel categories that have proved popular during the pandemic, including leisurewear.
More than 200 jobs have been axed at Jaeger Retail Limited and all 63 of its stores and concessions are set to permanently close after joint administrators confirmed that the sale of the business to UK retailer Marks & Spencer does not include the retail locations.
Top stories on just-style this week include an exclusive report on apparel industry challenges and opportunities in 2021, and a look at four major changes manufacturers must make to ensure they survive and thrive after Covid-19. Elsewhere, VF Corp is rejigging its Asian sourcing operations, concerns continue to mount over potential Vietnam tariffs, and Marks & Spencer buys the Jaeger fashion brand out of administration.
What is thought to be the first plant-based fibres with inbuilt technology that captures and converts body heat into infrared energy are being launched for performance wear, luxury loungewear and casual wear.
Japanese embroidery machine manufacturer Tajima Industries is launching new artificial intelligence (AI) powered multi-head embroidery machines that automatically adjust the upper thread tension for different threads and fabrics.
The first Latin America-based companies - including Cone Mills and Central America Spinning Works - have joined the US Cotton Trust Protocol, marking another step towards a transparent textile supply chain for brands working to source more sustainably grown cotton.
The joint administrators of UK-based women's value clothing retailer Bonmarché have completed a sale of the businesses to Purepay Retail Limited, which is backed by an international investor consortium.