Link to NIke is a drag on shares of Yue Yuen Industrial: effect of customer cutbacks is worrying analysts who track the Hong Kong footwear market

Article Abstract:

Hong Kong stock market analysts are worried over their investments in Yue Yuen Industrial Holdings, especially following reports that its major customer, footwear giant Nike, is cutting down on its Asia-Pacific operations. Yue Yuen manufactures footwear for three major shoe retailers, Nike, Reebok and Adidas, and both Nike and Reebok are reeling from depressed sales in their markets. Nike reports that it will cut its workforce in the Asia Pacific region by 7%, which is sure to affect Yue Yuen's operations. Yue Yuen's net profits increased to $157.6 mil in the year ending Sept 30, 1997, a 60% increase.

Footwear, Footwear Wholesale, Footwear Wholesalers, Foreign operations, Nike Inc., Footwear industry, Hong Kong, Securities, NKE, Yue Yuen Industrial Holdings

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U.S. manufacturers act to defend Chinese workers; Reebok, Mattel and Levi Strauss adopt code on bonded labor, suppressing pay and discrimination

Article Abstract:

Reebok International Ltd, Mattel Inc and Levi Strauss Inc have agreed to adopt a set of principles denouncing bonded labor, wage suppression, employment discrimination and other abuses of workers by their Chinese suppliers. Their adoption of the code makes them participants in a campaign aimed at protecting workers employed by their Chinese contractors. The move, which was announced by several human rights groups including Amnesty International USA and the International Labor Rights Fund, is hoped to entice other US companies to adopt the same principles.

United States, China, Product standards, safety, & recalls, Cut and Sew Apparel Manufacturing, Other Footwear Manufacturing, Public affairs, Personnel administration, Athletic Footwear ex Canvas, Doll and Stuffed Toy Manufacturing, Men's & Women's Jeans, Fashion Dolls, Social aspects, Social policy, Clothing industry, Toy industry, Mattel Inc., Athletic shoes, Employee rights, Athletic shoe industry, Reebok International Ltd., Levi Strauss & Co., Jeans (Clothing)

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