Net income at US based value-added and recycled fibres producer Unifi, Inc climbed 46.52 per cent year over year for fiscal ended June 28, 2015. A Unifi press release informed that net income for fiscal 2015 totaled to $42.2 million or $2.32 per basic share compared to net income of $28.8 million or $1.52 per basic share for the prior fiscal.It reported an adjusted net income of $34.3 million or $1.88 of adjusted EPS for the reporting fiscal as against adjusted net income of $31.2 million or $1

Parliament was informed today that the cotton prices in the domestic market are subdued due plunge in India’s exports to China in 2014-15. Export of cotton from India to China has witnessed turn down by 56.72 percent from 61 lakh bales in 2013-14 to 26 lakh bales in 2014-15. As a result, there had been slowness in the domestic prices as compared to last year, said Commerce and Industry Minister Nirmala Sitharaman in a written reply to Rajya Sabha. Cotton policy adopted by China is the major

The International Apparel Sourcing Show which began on Tuesday in New York attracted more than 600 Chinese companies and about 1,000 companies from more than 20 countries, which are displaying products including clothing, fabrics and home textiles. A record number of Chinese companies participated to establish new niche markets in the United States. This year the show has witnessed 30 percent increase in Chinese participates from last year. In fact, hundreds of China's textile and apparel makers

Chinese President Xi Jinping has reassured local governments that the economy still enjoys a promising outlook despite downward growth pressure. Xi made the remarks during a discussion with provincial officials after an inspection tour to Jilin from Thursday to Saturday, where he urged the northeastern province to strive for breakthroughs while adapting to the "new normal" of slower economic development. Xi pointed out the Chinese economy is in good condition with unchanged factors, incl

Decline in Short-staple and Draw-Texturing Spindles; Increase in Flat Knitting Machines Shipments in most of the textile machinery segments experienced declines in 2014. Deliveries of new short-staple spindles fell by 15% from 2013 to 2014. Shipped long-staple spindles and open-end rotors increased by 70% and 2.6% respectively. The number of shipped draw-texturing spindles grew by close to 12%. Shuttle-less looms and new large circular knitting machines also dropped by 14% and 22% year-on-ye

According to the latest USDA report, the 2015 US cotton crop is projected at 14.5 million bales, unchanged since May and 11 per cent below the 2014 crop. “Despite a decrease in planted area reported in the June acreage report, expectations for a lower abandonment and a higher yield, offset reduced plantings,” the report said.Favourable precipitation in May and June eliminated drought conditions, particularly in the Southwest, but the rainfall in June kept plantings from reaching initial expec

EU member states have agreed to ban a toxic substance widely found in clothing because it poses an “unacceptable risk” to the environment, according to media reports. Countries unanimously voted in favour of extending existing restrictions on nonylphenol ethoxylates (NPE) to imports of clothing and other textile products. The proposal ban the chemical was brought forward by Sweden in 2013 and backed by scientists at the European Chemicals Agency (ECHA). NPE degrades in the environment i

The readymade garment manufacturers want price hike to remain in business as the production cost has gone up as a result of factory upgradation and also increase in workers’ wages. “Recently, the buyers have become tricky in setting prices of RMG products and introduced cost breakup system,” BGMEA Vice-President Shahidullah Azim told the Dhaka Tribune. They collect prices of raw materials used to make certain products from several manufacturers and set the lower price based on the average