Posted on 11/04/2010 5:02:49 AM PDT by Red in Blue PA
Shoppers will have to pay more for clothing next year as skyrocketing cotton prices force companies to take their chances with price increases even as consumer demand remains sluggish.
Hanesbrands Inc, Jones Group Inc. and VF Corp. said they will raise prices for clothing set to hit stores early next year by as much as 10%. When cotton prices began their climb a year ago, retailers and manufacturers were unclear how much—if any—of the cost would be passed along to consumers. But with benchmark cotton now up about 80% since the beginning of the year, apparel companies say they no longer have a choice.
"The world has radically changed," Richard A. Noll, chief executive of Hanesbrands, said in an interview. "There is a clear understanding that prices need to go up in this kind of environment."
(Excerpt) Read more at online.wsj.com ...
Thank you, Ben Bernanke.
“Quantitative Easing” = KILL the middle class (literally).
By the time this criminal (Bernanke) is through, we’ll literally be shivering in our cold, dark, foreclosed homes, wondering where our next meal is going to come from.
Way down South in the land of Cotton..........farmers are reaping a bonanza and we are happy for it. Cotton crop failures overseas and the demand for natural fiber means good business for Southern cotton farmers. :)
When I sold my last farm in 1999, cotton was about 45 cents, but in the mid 90s, it was over $1 per pound.
I have seen it as low as 35 cents.
Yep. Cotton is still king ;p
But lookie, lookie...Cotton is king now..
sw
——Farmers switched from growing cotton to corn.——
I doubt that. What is the evidence?
In eastern NC there was a switch to cotton from tobacco and it grows in some postage stamp size fields. On a trip week before last, I saw lots of cotton in Alabama and last year I saw Texas cotton fields that exceed the size of New England.
Cotton grows where corn won’t
I think clothing and alcohol and wood sound like good investments right now. :)
Cotton acres moved mostly to soybeans as a result of low demand a few years ago. Not surprisingly, demand, prices and acreage are all rebounding nicely.
I need more evidence, but when I read this article my first thoughts were along the lines of BS on the intimated Global Warming cause of the foreign crops going bust.
The things that stand out in todays Political news regarding such costs are Bernanke, and Ethanol.
I’m inclined to believe, until of course proven otherwise that cotton production might be taking a back seat to corn for Ethanol.
If the weather situation in foreign countries is true, then is it typical seasonal?
We need to know more than this article is spelling out for us. The authors emphasis is mainly on marketing the price increase best I can tell.
Wondering why today we are so damned interdependant upon the rest of the World? There’s a smell of Leftism in the air.
http://abcnews.go.com/Business/wireStory?id=10166400 Link goes to just one of the many articles you can “google”.
Thanks
I'm way over my head when it comes to farming...but it sure looks that way to me.
An 80% raise in cotton prices is stunning!
” Unable to Stretch Further, Apparel Makers Raise Prices (Cotton prices up 80% this year) “
And so it begins....
Rummage sales, Salvation Army are good places to find nearly new jeans. All mine come from such buys. I’ve LL Bean, Hilfiger, etc. Picked up a pair of brand new Hilfiger shorts last week for a $1.00 at a rummage sale, still had the price tag on them. Last ‘church’ appropriate dress I bought at a rummage sale was like new cost $2.00.
I oftne have to drive by a Salvation Army, and 2 things I have noticed is that the parking lot is always full, and there are alot of high end cars there too.
I really dont care for new jeans, they are not nearly as comfortable as ones that have been used. So I look for used ones in good condition on eBay ... and get a bargain in the process.
I know, I like mine soft and comfortable, and when they get to shabby around the leg, I cut them off and make pedal pushers out of them.
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