1. A method for applying a label to an article of merchandise such as men's socks or the like, comprising the steps of: placing a label upon an endless belt which extends along a path of travel and across a labeling station, moving the label along the path of travel and to the labeling station by rotating the endless belt and while drawing a partial vacuum below the upper surface of the belt to draw the label into firm engagement with the belt, holding the label at the labeling station upon its reaching the same by terminating rotation of the endless belt and by maintaining the partial vacuum below the upper surface of the belt, positioning the article of merchandise transversely across and upon the medial portion of the label while the label is being held at the labeling station, and then lifting and folding the ends of the label about the article of merchandise while maintaining the article in a relatively fixed position at the labeling station such that the label substantially encircles the article.