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Most apparel manufacturers had a disappointing holiday selling season in 1998 and the weak retail environment was exaerbated by warm weather in the US at the same time. The apparel industry is also quite competitive, but electronic commerce, brand leveraging, and improved efficiency may help the industry in the future. These stocks are not timely during the 1st qtr of 1999 and investors should select only the most timely of the larger capitalized companies.

Marketing in the apparel industry are planned around the seasonality of wardrobes, and the Fall 1998 weather is having an effect on sales. However, earnings have increased due to improved efficiency, branding, and advertising. Apparel is a slow-growth industry although it is in the upper half of timeliness rankings and investors need to show caution in their selections.

Apparel firms will continue to do poorly during the holidays 1994. Low inventories should help these companies operate at a more profitable level, because fewer marked down items will be necessary. However, private label firms are competing against foreign firms with lower-priced items, and national brand firms are losing sales to private label manufacturers. As interest rates continue to rise, however, consumers will begin to buy more soft goods, rather than large ticket items with more interest involved.

The apparel industry has experienced weakness during the Jan-Jun 1994 period and is expected to continue to lag the general market through Aug 1995. However, prospects should brighten for the fall and holiday selling seasons in 1994 as consumers increasingly turn to nondurable goods. Another factor that should benefit the industry is the fact that retail apparel businesses have kept their inventories lean. Additionally, manufacturers of low- to middle-end apparel products should perform better than higher-end manufacturers. Few investments in this industry appear to offer strong prospects for capital gains.

Clothing industry stocks have been dropping relative to other industries, partly because of poor weather, high inventory and low sales. While the North American Free Trade Agreement could help turn the situation around soon, the industry will remain volatile. Potential investors should choose stocks with Predictability Ratings of 65-100, Financial Strength ratings of B plus or higher and average Safety ranks of 3 or higher.

The apparel industry stocks are not timely for investors to buy in Nov 1993, due to the weak economy and its effect on consumer buying habits. The North American Free Trade Agreement will help the industry grow during the 1990s as tariffs and quotas are gradually eliminated between Canada, Mexico and the US. Larger apparel firms will fare better than smaller companies because they have the money to invest in the technology that enables them to offer quick response automatic refill strategy.

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