Despite a slight uptick in July, US imports of blue denim apparel declined by 35.26 percent to $1.08 billion in the first seven months of 2020 compared to a 37.82 percent decline in the first half, according to new data from the Commerce Department’s Office of Textiles & Apparel (OTEXA).
Importers have spent most of this period in the throes of an economic downturn caused by the coronavirus pandemic. Most denim brands and retailers have said they have focused on working off inventory stuck in warehouses and stores, while curtailing import orders.
Carlos Alberini, CEO, Guess Inc, said in reporting second-quarter results that the company focused on “optimizing inventory management,” ending the period with inventories down 13 percent compared to last year.
PVH Corp, owner of Calvin Klein and Tommy Hilfiger Jeans, said it continues to tightly manage its inventory, which decreased 12 percent as of the end of the second quarter from the prior-year period. As of the end of fiscal 2020, the company is projecting to carry approximately $125 million of basic inventory into Spring 2021, which is a reduction compared to the prior projection of approximately $250 million.
The result has been a major decline in imports from top producing countries, with every Top 10 supplier except Vietnam and Cambodia registering decreases in year-to-date shipments. The United States’ No. 1 supplier, Mexico, saw its jeans imports fall 53.04 percent in the period to a value of $227.09 million.
