Many top U.S. retailers posted disappointing monthly sales on Thursday and some lowered their quarterly forecasts as a global financial crisis spurred consumers to clamp down even more on household budgets.
British fashion and homewares retailer Next expects underlying sales at its stores to fall by a greater amount in November and December than they did in its third quarter, said finance director David Keens. "We don't expect the minus 4.
Heelys Inc , maker of novelty sneakers that double as roller skates, said its board had retained investment bank Houlihan Lokey as financial advisor to help it evaluate possible strategic alternatives.
Target Corp is launching a new fashion program aimed at collaborating with established designers, and the discount retailer will kick off the initiative in March with an apparel line by Alexander McQueen.
Facing the weakest holiday season in nearly two decades, retailers and the vendors who keep their shelves stocked are walking a fine line between helping each other stay afloat and protecting their profits.
BMO Capital Markets downgraded clothing retailers Reitmans Ltd and Lululemon Athletica to "underperform" from "market perform," and said the companies' margins will be hit by their exposure to a weak Canadian dollar amid a slowdown in the economy.
U.S. retail chains may report one of their worst monthly sales results this week as a global financial crisis leaves its mark on ordinary consumers, casting new doubt on holiday season sales. Leading U.S.
Michelle Obama will bring the skills of a corporate lawyer to the White House if her husband wins the U.S. presidency, but she says her priority will be her role as "mom-in-chief" to the couple's daughters.
Lingerie maker Lucia Iorio says her new design targets the modern, techno-savvy woman, but the GPS-equipped "Find Me If You Can" line has raised the hackles of feminists who call it a 21st-century chastity belt.
The German sportswear company Puma posted on Friday, October 31st stable third-quarter results despite weaker economic activity worldwide, and raised slightly its 2008 sales outlook but failed to convince investors.