Under Armour Inc said on Thursday fourth-quarter profit fell by more than half as its apparel revenues were hurt by weak orders and more cancellations from U.S. retailers, but the result matched Wall Street's lowered expectations.
Outerwear maker Columbia Sportswear Co said on Thursday that quarterly net profit fell by more than half, hurt by falling revenue, the impact of a stronger dollar and acquisition-related charges, and shares fell 11 percent.
Swatch Group, the world's largest watchmaker, expects 2009 sales to rise modestly as it anticipates a pick up in consumer spending in the second half of the year after a challenging first half. Gross sales rose 4.3 percent to 6.
Shoe and bag maker Tod's will update on the key Christmas period this week, and like other Italian fashion companies is likely to show that sales went better than expected but maybe at the cost of margins.
U.S. handbag maker Coach Inc reported lower quarterly profit on Wednesday, hurt by the slowdown in consumer spending that made the 2008 holiday season the retail industry's weakest in decades, and cut back on expansion plans.
CL King & Associates downgraded Hanesbrands Inc to "neutral" from "strong buy" on lower customer traffic, high debt levels and some impact to sales due to recent price increases, sending the underwear maker's shares down as much as 21 percent to an all-time low.
British luxury goods group Burberry (BRBY.L) beat third-quarter revenue forecasts, helped by heavy discounting, and said it would cut around 540 jobs in Britain and Spain to protect profit in tough trading conditions.
Tandy Brands Accessories will slash about 17 percent of its salaried headcount as part of its cost-cutting efforts and realign its operations to focus on key products such as belts, small leather goods and gifts.
Luxury goods giant Richemont said Monday that demand fell "dramatically" during the final quarter of 2008, especially in the United States, in the toughest market conditions seen in the group's 20 year history.