The combined impact of these factors is captured by the following trends.
( ( ( The ( combined impact ) ) ( of ( these factors ) ) ) ( ( is ( captured ( by ( the ( following trends ) ) ) ) ) . ) )
(ROOT (S (NP (NP (DT The) (VBN combined) (NN impact)) (PP (IN of) (NP (DT these) (NNS factors)))) (VP (VBZ is) (VP (VBN captured) (PP (IN by) (NP (DT the) (VBG following) (NNS trends))))) (. .)))
The impact is captured by the trends in apparel. 
( ( The impact ) ( ( is ( captured ( by ( ( the trends ) ( in apparel ) ) ) ) ) . ) )
(ROOT (S (NP (DT The) (NN impact)) (VP (VBZ is) (VP (VBN captured) (PP (IN by) (NP (NP (DT the) (NNS trends)) (PP (IN in) (NP (NN apparel))))))) (. .)))