Icelandic retail investor Baugur, which has stakes in a number of British high street stores, is headed for liquidation after a court on Thursday March 5 rejected its request for financial restructuring.
JP Morgan upgraded Family Dollar Stores Inc a notch to "neutral" on Friday, a day after the discount retailer posted comparable sales much above analyst estimates, and also raised its price target on the stock by $10 to $29.
AnnTaylor Stores Corp posted a loss almost twice as big as Wall Street expected on Friday, hurt by aggressive markdowns, and plans to would close 46 more stores as professional women buy less of its work-friendly clothing in the recession.
Teen-clothing retailer Hot Topic Inc reported a February comparable-store sales rise of 10.8 percent that handsomely beat the Wall Street estimate of a 4.8 percent increase, sending its shares up as much as 9 percent.
Foot Locker Inc posted a net loss compared with a year-ago profit on Wednesday due to impairment charges and the costs of store closure, and declined to provide a 2009 outlook. The athletic shoe retailer's shares fell more than 3 percent.
Top U.S. retailers saw anemic same-store sales in February as shoppers kept a tight hold on spending, but Wal-Mart Stores Inc again beat expectations and said lower gasoline prices had relaxed some household budgets.
British upmarket jeweller Theo Fennell Plc said on Thursday it would close its Fine Jewellery and Watch concession in the Brown Thomas Department Store in Dublin after it had unveiled its plans to downsize its business last month.