Latest news with #Fibre2FashionNewsDesk
Fibre2Fashion
17 hours ago
- Business
- Fibre2Fashion
US' INDA unveils conference programme for WOW 2025
INDA, the association of the nonwoven fabrics industry, has announced the release of the full conference programme for the World of Wipes (WOW) International Conference, taking place July 21–24, 2025, in Ohio. This year's theme, 'Wipe to Win: Innovating for a Sustainable and Profitable Future,' will bring together industry leaders to address pressing challenges and opportunities across the wipes value chain. Programme topics will include US manufacturing threats, tariff and regulatory impacts, fibre sustainability, consumer perceptions, fragrance trends, slitting advancements, plastic-free wipe innovations, sports hygiene, and flushability, INDA said on its website. INDA has released the full programme for the 2025 World of Wipes (WOW) Conference, set for July 21â€'24 in Ohio. Under the theme 'Wipe to Win', the event will explore US manufacturing challenges, tariffs, sustainability, consumer trends, plastic-free innovations, and more. Highlights include expert panels and sessions on eco-friendly wipes, fragrance trends, and market shifts. The upcoming conference will feature a dynamic lineup of sessions addressing the latest challenges and innovations in manufacturing and the wipes industry. Highlights include panel discussions such as Navigating the Headwinds: US Manufacturing Threats & Challenges in 2025 and 'The Great Regulatory and Tariff Pow-WOW. Other sessions explore sustainability and consumer trends, with topics like From Forest to Flush: Sustainability and Responsibility in Fibre and Wipes, Trends, Tushes & TikToks: The Rise of the Modern Wipe, and No Plastic, No Problem: The Next Generation of Eco-Wise Wipes. Additional engaging sessions include Sniff, Save, Slice: Rethinking Wipes from Fragrance to Finish and Swipe Right: The New Faces of Specialty Wipes, offering attendees insights into both environmental responsibility and market evolution. Fibre2Fashion News Desk (RR)
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
American retailer Kohl's Q1 sees progress despite 4.1% sales decline
American omnichannel retailer Kohl's, in the first quarter (Q1) of fiscal 2025 (FY25) ended May 3, has reported net sales of $3 billion, marking a year-over-year (YoY) decline of 4.1 per cent, with comparable sales down 3.9 per cent. The gross margin improved by 37 basis points (bps) to 39.9 per cent of net sales, and selling, general and administrative (SG&A) expenses fell by 5.2 per cent to $1.2 billion, representing 36 per cent of total revenue—down 32 bps YoY. Kohl's has reported net sales of $3 billion in Q1 FY25, down 4.1 per cent YoY, with comparable sales down 3.9 per cent. Operating income rose to $60 million, while net loss narrowed to $15 million. Gross margin improved to 39.9 per cent and SG&A expenses declined. CEO Bender expressed optimism as he assumed leadership. FY25 outlook includes a 5â€'7 per cent sales decline and capex of $400â€'$425 million. The operating income rose to $60 million, compared to $43 million in the prior-year period, with the operating margin improving by 58 bps to 1.9 per cent. The company reported a net loss of $15 million, or $0.13 per diluted share, compared to a net loss of $27 million, or $0.24 per diluted share, in Q1 FY24. Inventory levels stood at $3.1 billion, a 2 per cent increase from the previous year, while operating cash flow recorded an outflow of $92 million, Kohl's said in a press statement. 'Our first quarter performance was ahead of our expectations and the actions we are taking are starting to make progress with early signs of a positive impact. Our team is focused and motivated to deliver great products, great value, and a great shopping experience to our customers. I want to thank our amazing team of associates for their hard work and dedication,' said Michael Bender, Kohl's interim chief executive officer (CEO). 'I am honoured to assume the role of interim CEO at such an important time for our company. Kohl's has a tremendous opportunity to build on our strong foundation of over 1,100 conveniently located stores and a large and loyal customer base,' added Bender on assuming his new role as CEO. 'I am excited to lead this next chapter of Kohl's and build on the momentum we have begun to generate.' For FY25, Kohl's expects net sales to decline by 5–7 per cent and comparable sales to fall by 4–6 per cent. The operating margin is projected between 2.2–2.6 per cent, with diluted EPS in the range of $0.1 to $0.6. Capital expenditures (capex) are estimated at $400–$425 million. Fibre2Fashion News Desk (SG)
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
US-China trade talks stalled, may need direct Trump-Xi talks: Bessent
US-China trade talks are a 'bit stalled', according to US treasury secretary Scott Bessent, who yesterday said concluding the deal would need direct talks between Presidents Donald Trump and Xi Jinping. The two nations agreed to a 90-day tariff pause along with mutual reductions around two weeks back. US-China trade talks are a 'bit stalled', US treasury secretary Scott Bessent has said. Concluding the deal would need direct talks between Presidents Donald Trump and Xi Jinping, he said. The progress since the truce in Geneva two weeks back has been slow, but he expects more talks with the Chinese side in the next few weeks, he told a TV network. Several large trade deals are near, he added. The progress since the truce in Geneva has been slow, Bessent told a TV network. He, however, expects more talks with the Chinese side in the next few weeks. 'Given the magnitude of the talks, given the complexity ... this is going to require both leaders to weigh in with each other. They have a good relationship, and I am confident that the Chinese will come to the table when President Trump makes his preferences known,' Bessent added. US secretary of state Marco Rubio announced early this week the Trump administration's decision to revoke visas of Chinese students in touch with the Communist Party of China or those enrolled in 'critical fields'. China has lodged a formal protest over this decision. Bessent also told the TV channel that several large trade deals are near. Fibre2Fashion News Desk (DS)
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
Global container rates surge 10% as US tariff pause spurs demand
The Drewry World Container Index (WCI)—a composite measure of container freight rates—shot up further by 10.19 per cent to $2,508 per 40-foot equivalent unit (FEU) on May 29, up from $2,276 per FEU the previous week. The index has increased 21 per cent in the last 3 weeks, as President Donald Trump's 'pause' on import tariffs led to a resumption of US-bound traffic after the initial collapse of trans-pacific volumes. The freight rates from Shanghai to Los Angeles have jumped 17 per cent to $3,738 per 40ft container in the past week and 38 per cent since May 8 (3 weeks ago). Spot rates to New York have risen 14 per cent in the past week and 42 per cent in the past 3 weeks. The Drewry World Container Index surged 10.19 per cent to $2,508 per FEU, marking a 21 per cent rise in three weeks as Trump's tariff pause spurred US-bound traffic. Rates from Shanghai to LA and New York soared up to 42 per cent. While this marks the first double-digit gain since July 2024, Drewry warns spot rates may decline again in H2 due to weak demand. During the week, freight rates from Shanghai to Rotterdam and Genoa have also risen by 6 per cent and 3 per cent, respectively. This was the first double-digit rise in the composite index since July 2024. The latest sudden, short-term strengthening in supply-demand balance in global container shipping has reversed the trend of declining rates which had started in January this year. However, Drewry's Container Forecaster expects the supply-demand balance to weaken again in the second half, which will cause spot rates to decline again in the second half of this year. The volatility and timing of rate changes will depend on the outcome of yesterday's legal challenges to Trump's tariffs and on capacity changes related to the introduction of the US penalties on Chinese ships, which are uncertain. Fibre2Fashion News Desk (KUL)
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
India Issues Jute Stock Control Order to boost raw jute supply
Indian Ministry of Textiles has issued jute stock control order for jute mills, balers and all types of traders, dealers, agencies and stockists in the country. It is considered that stock control order may increase availability of raw jute in the country as industrial units and traders will have to sell their excessive stocks within stipulated period. Moloy Chandan Chakrabortty, Jute Commissioner under the Ministry of Textiles has issued a notification recently. As per the notification, Jute commissioner has determined stock limit under the provisions of Jute and Jute Textiles Control Order, 2016. The control order issued with immediate effect. India's Ministry of Textiles has issued a jute stock control order to improve raw jute availability. Balers, traders, and mills must reduce excess stocks to set limitsâ€'1,500 quintals for balers, 300 quintals for traders, and two months' use for mills. Delayed monsoon has slowed sowing, raising prices to ₹6,800â€'7,200 per quintal, which is above the MSP of ₹5,650 per quintal. Balers who are having raw jute bailing press in the same premises cannot hold more than specified quantity. Maximum quantity of raw jute is fixed at 1,500 quintals for bailers. The limit for traders, dealers, agencies, and stockists will be 300 quintals. Jute mills and manufacturing units of jute goods can hold raw jute of 2 months consumption. Jute traders and industrial units cannot purchase fresh stock until they do not bring their stock below the limit. If they fail to comply the order, it will be punishable under the control order. It is to be noted that jute sowing got delayed due to slow monsoon in jute growing districts of West Bengal. This may widen gap in demand and supply in July and August months. Raw jute prices have already shot up to ₹6,800-7,200 per quintal, which is already higher than the minimum support price of ₹5,650 per quintal. Fibre2Fashion News Desk (KUL)
