– PANEL WARNS ON CHINA TRADE: The U.S.-China Economic and Security Review Commission, a congressional advisory panel, said in a report Thursday that China’s trade relationship with the U.S. is “severely out of balance.” Among the 42 recommendations: Congress should enact legislation imposing punitive duties on Chinese imports through U.S. trade remedy law; the Bush administration should bring a World Trade Organization case against China for manipulating its currency, and requiring U.S. companies to report to the Commerce Department their receipt of any economic subsidy from China.
– KELLWOOD PROMOTES POWERS: Kellwood Co. has named Stephen F. Powers, president and chief executive officer of the Koret division, as chief customer officer of its Lifestyle Alliance. This is a new position for the new division of the $1.6 billion vendor’s mainstream brands that includes Sag Harbor, Koret and Briggs New York. In addition to working with retailers, Powers will be responsible for Koret and Sag Harbor stores. Before joining Kellwood in 2005, Powers served as executive vice president of women’s apparel for May Merchandising Corp., and served in various senior management positions in the women’s business within May Co. from 1980 to 2003. Based in Oakland, Calif., Powers will report to Patrick J. Burns, group president of the Lifestyle Alliance.
– CHEAP CHIC GAINS: Hennes & Mauritz reported sales in October accelerated 15 percent as the company opened more stores. The Swedish fast-fashion giant said same-store sales in the month gained 3 percent. H&M is banking on a one-off collaboration with Roberto Cavalli, which it launched Nov. 8, to boost sales this month.
This story first appeared in the November 16, 2007 issue of WWD. Subscribe Today.