Index resembles apparel market improvement

Wednesday, 22 September 2010
The FashionUnited Top 100 keeps on its growth path for third consecutive week. After closing on Monday at 1118.2 points, the index climbed by 41.52 points the next day, therefore closing the session on Tuesday at 1159.72.

When Fashion Weeks going on around the globe, September seems to be a positive month for the apparel sector. Good sample of the bonanza were the performances of French Connection, which gained 1.6 points after losing position for the previous sessions, Triumph, which scratched five points by the end of the day in the German stock exchange, or Ted Baker, gaining 11 points in the UK. But it was JD Sports Fashion the company registering biggest hike yesterday, adding 32 points, while the Danish IC Companis won 1.5.

Also slight increases for Liz Claiborn, Etam, True Religion, and Bebe Stores, anyone of them below the unit.

In the losers team we found Decker Outdoor Corp, dropping by 1.26 points, Bukle Inc –that saw how its performance drained more than 9%-, Gymborre, with a cut of 1.02 points, or the American trendiest university stylers, J Crew, which lost 4.2%.

 In Japan, after moving up sharply in early trades on Tuesday on the back of a positive close on Wall Street overnight, the Nipon stock market has pared some of its gains with a section of investors choosing to take some profits at higher levels. Therefore, while oil, insurance, electric power and rubber stocks were trading firm; shares from retail, services, securities, automobile and financial sectors were exhibiting a mixed trend. Good sample of the latter were Onward Holdings, up by 4 points, exactly the same that led Asics Corporation down.

Regarding the values under particular scrutiny yesterday, they were to be found the two giants of athletic clothing and shoe wear, Nike and Adidas. While the first one is expected to present first quarter results on Thursday, the world’s second- largest sporting-goods maker, will increase sales and profit in 2011 as China rebounds and Russia becomes the company’s top European market, Chief Executive Officer Herbert Hainer said.

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