Hennes & Mauritz , the world's third-biggest clothing retailer by sales, reported lower-than-expected third-quarter pretax profits on Tuesday as sales slipped in tough market conditions. The firm made a pretax profit of 4.
Nearly half of U.S. retailers have seen their lenders tighten credit this year, and a majority don't expect a turnaround in the economy to occur before the second quarter of next year, according to a new study.
Lanvin is in talks to sell a stake to a Qatar-based investor in a deal that could value the French fashion house at around 150 million euros ($220 million), according to industry and financial sources close to the matter.
Sports and fashion retailer JD Sports Fashion bucked the gloomy sector trend, with a 54 percent rise in first-half profit, boosted by sales of cutting-edge trainers, sending its shares over 5 percent higher.
Women's apparel retailer Cache Inc forecast a loss for the third quarter and took a gloomy view for the fourth quarter due to softer-than-expected sales amid tough economic conditions, worsened by the recent hurricanes.
New Zealand children's clothing maker and retailer Pumpkin Patch Ltd. on Wednesday reported a 28 percent fall in full year net profit, on the back of tough retail markets and higher costs. Net profit after tax for the year ended July 31 was NZ$17.
Luxury goods group Richemont said it was well positioned to cope with the economic downturn as the rich still spent lavishly, but a softening in the United States weighed on its stock. By 0826 GMT (9:26 a.m.