Data shows that in the first five months of this year, nearly 30 percent of enterprises in China’s textile industry operated at a loss, and the total profit of enterprises decreased by nearly 20 percent compared with the same period last year. According to data released by China National Textile and Apparel Council this month,…
Nearly 30 Percent of China’s Textile Enterprises Lost Money, Total Profits Dropped 20 Percent
What Recovery? Clothes Retailers Cut Orders While Factories Fight to Survive
LISBON/DHAKA—Clothes retailers in Europe and America sit on excess inventory and cut back on spring orders. Sourcing agents face late payments. Garment factories in Bangladesh are on the rack. The global apparel industry, reeling from a punishing 2020, is seeing its hopes of recovery punctured by a new wave of COVID-19 lockdowns and patchy national…
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