Industry Of Apparel Growing In The Vietnam, Apparel grows in the Vietnam Optiuni

[jackmorres]

The apparel and textile industry in Vietnam has overtaken crude oil as that country's No. 1 export.

During the first 10 months of this year, Vietnam shipped $7.5 billion in apparel and textiles to primarily the United States and Europe, according to the Vietnamese General Statistics Office.

Vietnam's apparel manufacturing sector has grown rapidly ever since the U.S. government early this year stopped monitoring Vietnamese apparel coming into the United States. The Bush administration feared that Vietnam would dump apparel goods on the U.S. market and started closely watching import prices in 2007 to determine whether anti-dumping duties should be imposed.

The Department of Commerce held six-month reviews of five different apparel products-trousers, shirts, underwear, activewear, swimwear and sweaters-but found no signs of dumping.

[jackmorres]

American Apparel Inc. (APP) third-quarter earnings jumped 78% after year-earlier stock compensation related to a 2008 merger depressed margins. Meanwhile, sales continued to go week for the casual-clothing retailer.

American Apparel reported a profit of $4.2 million, or 5 cents a share, from $2.3 million, or 3 cents a share, a year earlier. A year earlier, the period included merger-related compensation expenses, excluding which earnings were 16 cents a share.

Revenue decreased 2.9% to $150.3 million, as same-store sales dropped 16% on a constant currency basis.

Gross margin leapt nine percentage points to 58.1%, and rose only slightly from last year's margin excluding merger expenses of 57.6%.