Retail Ventures Inc is exploring strategic options to address a risk to liquidity at the company and its Filene's Basement unit, and is in talks with lenders about the effect of store closures on one of the unit's credit agreements, sending its shares down 10 percent.
Japanese cosmetics makers Shiseido Co. and Kao Corp. on Thursday cut their earnings forecasts for the year, saying that fewer people were buying beauty products during the recession.
Apparel and home furnishings retailer Bon-Ton Stores Inc said it would cut about 1,150 jobs and eliminate 2008 bonuses for its senior executives in a bid to control costs amid a worsening economy.
A former worker of Goody's LLC filed a lawsuit against the company on Tuesday, claiming the bankrupt apparel retailer owes laid-off employees wages and other benefits, court documents show.
Like many Britons of his generation, 66-year-old Ken Bibby is proud to have worked hard, watched his pennies and paid his way, but after 50 years saving for his old age, he says his prudence is being punished.
Robbers have pulled off a daring heist in Berlin's best-known department store, police said Tuesday, stealing jewellery reportedly worth up to five million euros (6.5 million dollars).
Football has a solid female fanbase which credit crunch-hit sponsors and advertisers have yet to tap into, a report said on Tuesday.
Printemps, one of Paris' biggest department stores, is opening a Maria Luisa concept store as it places its bets on high-end fashion despite the financial crisis, CEO Paolo de Cesare said Tuesday.
Liz Claiborne Inc (LIZ.N) is considering opening its own full-priced stores to eventually sell its namesake clothing brand, which is launching a revamped line next month, its chief executive said.
Barneys New York Inc's owner, Dubai's Istithmar World PJSC, may sell the U.S. luxury retailer less than two years after buying it as the fund struggles with losses and the luxury market slows, Bloomberg reported, citing two people familiar with the situation.
The reputation of products made in China has been tarnished repeatedly in recent years as Chinese consumer goods and food have been recalled around the world after being found to be unsafe.
Recession shockwaves are swamping China's main coastal export zones and spreading, pushing a fragmented and once fast-growing retail sector to consolidate as sales and profit margins shrink. Global giants such as Wal-Mart Stores.
Children's Place Retail Stores Inc (PLCE.O) said it will cut about 350 jobs as it relocates its e-commerce business, citing lack of space at its present center. The company, whose rivals include Gymboree (GYMB.O), American Eagle Outfitters (AEO.
Footwear retailer Brown Shoe Co Inc (BWS.N) said it will cut jobs and close some stores as part of its cost-reduction initiatives, and expects annual savings of about $22 million, beginning in fiscal 2009.
South African retailer Woolworths Holdings Ltd expects to report a 90-100 percent jump in first-half earnings per share thanks to a one-off boost from the sale of its financial services business.
