Jewelry retailer Finlay Enterprises Inc filed for Chapter 11 protection in a Manhattan court late on Wednesday 5 August and said it would sell its assets in an auction supervised by the bankruptcy court.
Skate and snow-boarding inspired retailer Zumiez Inc posted a narrower-than-expected 16.8 percent fall in July sales at stores open for at least a year. Analysts on average expected July same-store sales at the retailer to fall 20.8 percent.
General Growth Properties Inc, the large U.S. mall operator that filed for bankruptcy in April, reported a 2.1 percent decline in quarterly net operating income from its retail properties, citing weakness in the economy and falling occupancy rates.
Italy's Mariella Burani Fashion Group said it was not involved in a reported investigation. La Repubblica had said, in an unsourced report, that prosecutors had opened an inquiry into possible market-rigging and false accounting at the company.
U.S. retailers could post their 11th consecutive drop in monthly same-store sales this week as cool weather, a weak job market, and a lack of tax-free holidays had shoppers picking through the clearance racks in July instead of buying full-priced back-to-school clothes.
Mexico's peso pared gains to trade nearly flat after key U.S. economic data showed consumer spending in the United States shrank in the second quarter, pointing to a sluggish recovery for Mexico's exports.
General Electric Co said it had renewed its agreement to provide Wal-Mart Stores Inc's private-label credit cards for the next six years, in a move the biggest U.S. conglomerate said signaled its commitment to the credit card business.