Home / Knowledge / News / Apparel/Garments / US retail imports expected to rise 7.5% in June - NRF
US retail imports expected to rise 7.5% in June - NRF
07
Jun '14
Import volume at major U.S. container ports is expected to increase 7.5 percent in June as retailers bring unusually high quantities of merchandise into the country early to avoid any potential disruptions after the labor contract with West Coast dockworkers expires, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
 
“We don’t want to see disruptions at the ports but retailers are making sure they are prepared in case that happens,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Whether it’s bringing cargo in early or other contingency plans, retailers will keep the shelves stocked for the back-to-school and holiday seasons.”
 
The Pacific Maritime Association and the International Longshore and Warehouse Union began negotiations last month on a new contract to replace the agreement that expires June 30. NRF has urged both sides to avoid any disruptions that could affect the flow of back-to-school or holiday merchandise.
 
West Coast ports handle more than two-thirds of U.S. retail container cargo, including the bulk of cargo from Asia. The last major coast-wide shutdown there occurred in the fall of 2002, closing ports for 10 days and creating a months-long backlog to be cleared.
 
U.S. ports followed by Global Port Tracker handled 1.43 million Twenty-Foot Equivalent Units in April, the latest month for which after-the-fact numbers are available. The number was up 9.9 percent from March and 10.3 percent from April 2013. One TEU is one 20-foot cargo container or its equivalent.
 
May was estimated at 1.47 million TEU, up 5.8 percent from the same month last year, and June is forecast at 1.46 million TEU, up 7.5 percent from last year. Both are unusually high numbers not normally seen until later in the summer or fall, a sign that retailers have begun bringing imported merchandise into the country early because of the uncertainty of what could happen when the labor contract expires.
 
July is forecast at an even-higher 1.51 million TEU, up 4.4 percent from last year; August at 1.52 million TEU, up 1.9 percent; September at 1.45 million TEU, up 0.8 percent; and October at 1.48 million TEU, up 3.4 percent.
 
The first half of the year is expected to total 8.3 million TEU, up 6.5 percent over last year. The total for 2013 was 16.2 million TEU, up 2.3 percent from 2012’s 15.8 million TEU.
 
The import numbers come as NRF is forecasting 4.1 percent sales growth in 2014. Cargo volume does not correlate directly with sales but is a barometer of retailers’ expectations.
 
Hackett Associates Founder Ben Hackett said inventory levels were up earlier in the year as a severe winter kept shoppers at home and retailers began stocking up in advance of the port negotiations.
 
“The weather is behind us and inventories are coming down as the consumer ventures out and West Coast dockworkers and management remain at the bargaining table,” Hackett said. “The real question is how long can the economic expansion continue?”
 

NRF


Must ReadView All

Courtesy: Bangladesh Bank

Apparel/Garments | On 22nd May 2018

Bangladesh Bank enhances EDF loan limit to $25 million

Bangladesh Bank has enhanced the loan limit under Export Development...

Sri Lanka's textile imports up 32.5% in February 2018

Textiles | On 22nd May 2018

Sri Lanka's textile imports up 32.5% in February 2018

In what might be an indication of higher exports in the coming...

Provide power at Rs 8/kWh to textile units: APTMA

Textiles | On 22nd May 2018

Provide power at Rs 8/kWh to textile units: APTMA

All Pakistan Textile Mills Association (APTMA) has asked the...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search