T-shirt maker Gildan Activewear's fourth-quarter net profit nearly halved, missing Wall Street estimates, as higher costs and an unfavourable product mix offset gains from higher selling prices and improved manufacturing efficiencies.
Lululemon Athletica Inc reported a higher quarterly profit as sales gains from the clothier's new stores outstripped a weaker Canadian dollar and economic downturn, but the company cut its full year outlook as it braced for tough times.
Shares of Urban Outfitters Inc fell as much as 22 percent Thursday, a day after the apparel retailer posted flat same-stores sales for November and warned sales trends could worsen further during the rest of the holiday season.
By Pascale Denis PARIS, Dec 9 (Reuters Life!) - Champagne makers are hoping to hear the sound of corks popping this festive season to drown the gloom of a year that has seen sales volumes drop as a global economic downturn bites.
Watch-maker Movado Group Inc posted a quarterly profit that was well below Street estimates, hurt by a fall in retail sales, and cut its fiscal year earnings outlook. Net profit for the third quarter, declined about 41 percent to $15.
Guess Inc reported on Thursday, December 4th a 10 percent rise in quarterly net income, beating Wall Street estimates, but the apparel retailer and wholesaler cut its revenue and profit outlook for 2008, sending its shares down more than two percent in after-hours trade.
Shoe maker Crocs Inc said on Wednesday, December 3rd that it had settled all litigation with rival Skechers USA Inc, which it had claimed infringed a number of its patents. The settlement terms were not disclosed.
Following is a round-up of key small cap movers on the London stock market on Wednesday. December 3rd 9:50 a.m. - JJB hit by probe into Sports Direct stake Shares in sporting goods retailer JJB Sports slump 23 percent to 11.
Sports and fashion retailer JD Sports Fashion said on Tuesday, December 2nd that sales had fallen in the last 11 weeks but that it was on track to meet market expectations in terms of full-year profit.
Sales at Italian department store chain Gruppo Coin have so far been "exactly" in line with last year, with the weather having more of an impact than the recession, Chief Executive Stefano Beraldo said on Monday.