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J. Crew to make Asia debut in 2013
Hong Kong -- A Tuesday report by Bloomberg said that J. Crew will open its first Asia store – in Hong Kong – as early as 2013. CEO Millard “Mickey” Drexler told the news service that the retailer is also seeking sites in Beijing and Shanghai.
“We feel that we’re ready to go international,” said Drexler. “Going international is a strong learning curve and it could distract us from building our business in the United States, but we feel that the time is right now.”
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Moody's: U.S. apparel earnings to improve this back-to-school season
New York -- Lower cotton costs will boost the earnings of US retail apparel companies during the coming back-to-school season, according to a report by Moody's Investors Service.
The report, "Back to School: Lower Cotton Costs, Gas Prices Set Stage for Higher 3Q Earnings,” notes that for the third quarter overall, Moody's expects the apparel-makers' growth in earnings to outpace their growth in sales.