UK retailer Philip Green has made billions by spotting bargains and putting his own money on the line. Now he is looking for a deal to take control of swathes of Icelandic investor Baugur's shopping empire.
Retailer Philip Green has made billions by spotting bargains and putting his own money on the line. Now he is looking for a deal to take control of swathes of Icelandic investor Baugur's shopping empire.
French luxury goods group LVMH said on Friday, October 10th that it saw no worrying trends in emerging markets in the third quarter and that Louis Vuitton brand sales rose sharply in the first week of October.
U.S. retailers posted disappointing September sales on Wednesday, hurt by a global financial crisis that prompted shoppers to turn frugal and raised concerns of an even weaker holiday shopping season.
Clothing retailers reported dismal same-store sales results for September as the global financial crisis further squeezed consumers who were already cutting back because of the weak economy.
Retailers, from Wal-Mart Stores Inc to department stores, posted disappointing September sales as an expanding global financial crisis prompted shoppers to be even more thrifty.
Shopkeepers in Iran's traditional bazaars pressed on with strikes on Wednesday to protest against the government's introduction of value added tax amid mounting pressure on retail prices.
A U.S. judge on Tuesday approved the reorganization plan of apparel retailer Goody's Family Clothing, paving the way for it to emerge from bankruptcy, the company said.
Japan's second-largest retailer, Aeon Co Ltd , posted a 13 percent fall in first-half operating profit on Wednesday as consumers rein in spending due to the slowing economy, but it stuck to its full-year outlook.
German fragrance-to-fashion retailer Douglas reported a 4.6 percent rise in its 2007/08 sales, meeting analysts' expectations, as international markets offset sluggish consumer spending at home.
Top womenswear labels are bracing for the psychological impact of the global financial turmoil on consumers but hope to limit damage by shifting buying strategies and raising their profile, industry insiders told AFP.
U.S. shoppers worried by shrinking bank and retirement accounts tamped down spending across the board in September as the country's financial crisis worsened, MasterCard Advisors said in a report on Tuesday October 7th.
Top U.S. retailers, with the exception of discounters and warehouse clubs, are expected to post a drop in September sales this week as consumers balked at spending during an expanding financial markets crisis. Already hit hard by a U.S.
Bhs Group, the department store chain owned by billionaire Philip Green, posted a 40 percent fall in full-year operating profit on Tuesday, and for the fourth year running Green decided not to take a dividend.
Retailer John Lewis JLP.UL reported on Friday an 8.3 percent drop in weekly sales at its department stores, saying the turmoil in financial markets and good weather conspired to keep customers away.
