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Outlook for U.S. apparel and footwear industry is weaker as dollar strength dents earnings: Moody's

2015-10-05 16:58:09| Footwear - Topix.net

The outlook for the U.S. apparel and footwear industry has deteriorated thanks to the strong dollar, which is denting earnings and sales, Moody's Investors Service said Monday. "While the hedges taken this year will partially protect margins, the strong US dollar will continue to have negative foreign currency translation effects on the industry's gross profits for the rest of this year," Scott Tuhy, a Moody's senior credit officer said in a statement.

Tags: industry apparel strength dollar

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