It has been reported that the clothing maker VF Corp. has registered a steep incline in quarterly profit rise on Friday. This follows due to the increase in sales in its outdoor and action sportswear. This augmented profit margins to a record high level.

It is known that VF is the global leader in apparel. It produces greater than 30 brands, like The North Face, Nautica, 7 For All Mankind and Vans.

Agriculture Minister David Carter plans to sweep existing wool industry organizations seeking to form a new single body.

The task force posted in its 24-page report that a potential future still exists for coarse wools, which made up most of the nation's clip, as elite consumers demanded products that meet new standards in sustainability, ethical production, social responsibility and environmentally-sound production.

Iconic clothing manufacturer Lane Walker Rudkin, having century old presence in the market, has become history with the firm closing all its operations. This is a disappointing moment for around 80 workers of the firm who lost their job just ahead of the auspicious occasion of Christmas. The clothing manufacturer, owing around $120m to Westpac, is currently under the scanner of Serious Fraud Office investigation following a complaint by the receivers in April.

The Serious Fraud Office has initiated an enquiry into the fall of clothing manufacturer Lane Walker Rudkin Industries (LWR) owned by businessman Ken Anderson. The iconic company collapsed in April with the loss of around 200 jobs, which had further added to the growing unemployment due to global financial crisis.

The National Distribution Union has urged the authorities concerned to go deep into investigations by checking financial liabilities and possible manipulation with the financial fact sheet of the firm in which Prime Minister John Key also worked for some time.

Clothing retailer Postie Plus, famous for its brands such as Postie+, Schooltex and Baby City, seems to have come out of financial trouble, reporting a full year net profit of $615,000. The firm, having 79 Postie+ apparel stores and 24 Baby City city stores, reported a 2.5 per cent increase in its sales revenue by August 2 to $110.38m.

The Serious Fraud Office (SFO) will look into charges of the receiver of clothing manufacturer Lane Walker Rudkin Industries, as receiver BDO Spicers had brought the matter in SFO notice filing a complaint with the body.

Robert Reid, General Secretary of National Distribution Union hailed the move and said that the failure of the iconic company was not a simple matter. He added, "We have had strong feedback from the workers that they want to see the whole of the financial shambles investigated, given the workers were one of the losers in the situation."