Retailers’ finances closely watched ahead of holidays
By Martinne Geller – Analysis
NEW YORK (Reuters) – Dozens of U.S. retailers are being closely watched by bankruptcy and restructuring professionals as the crucial holiday sales season approaches.
Those at greatest risk are chains selling goods and services considered nonessential, or ones that are loaded with debt, say analysts and investors who follow distressed companies.
That’s because [...]
Gold bugs see vindication in Wall Street mess
By Frank Tang NEW YORK (Reuters) – Die-hard gold believers, derided by mainstream investors because of their steadfast bullishness no matter what market conditions were like, feel vindicated by the current turmoil on Wall Street. Shaken by the worst financial crisis since the Great Depression, people fearful [...]
Milan shows keep focus on shoes, hats and scarves
By Jo Winterbottom
MILAN (Reuters) – Designers Rocco Barocco and Roberta Scarpa kept attention firmly on accessories at the start of Milan’s womenswear week, and the chief executive of Gianfranco Ferre said the label was developing this area.
As the credit crunch threatens to crimp spending on luxury goods, designers are increasingly aware that jewelry, hats and [...]
Milan shows keep focus on shoes, hats and scarves
By Jo Winterbottom
MILAN (Reuters) – Designers Rocco Barocco and Roberta Scarpa kept attention firmly on accessories at the start of Milan’s womenswear week, and the chief executive of Gianfranco Ferre said the label was developing this area.
As the credit crunch threatens to crimp spending on luxury goods, designers are increasingly aware that jewelry, hats and [...]
Milan shows keep focus on shoes, hats and scarves
By Jo Winterbottom
MILAN (Reuters) – Designers Rocco Barocco and Roberta Scarpa kept attention firmly on accessories at the start of Milan’s womenswear week, and the chief executive of Gianfranco Ferre said the label was developing this area.
As the credit crunch threatens to crimp spending on luxury goods, designers are increasingly aware that jewelry, hats and [...]
Milan shows keep focus on shoes, hats and scarves
By Jo Winterbottom
MILAN (Reuters) – Designers Rocco Barocco and Roberta Scarpa kept attention firmly on accessories at the start of Milan’s womenswear week, and the chief executive of Gianfranco Ferre said the label was developing this area.
As the credit crunch threatens to crimp spending on luxury goods, designers are increasingly aware that jewelry, hats and [...]
J.C. Penney, Kohl’s August same-store sales fall
CHICAGO (Reuters) – J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz) and Kohl’s Corp (KSS.N: Quote, Profile, Research, Stock Buzz) said on Wednesday sales at stores open at least a year declined in August as consumers curbed back-to-school spending in a weak economy.
But shoppers looking for low prices helped boost Costco Wholesale Corp [...]
Buyers ignore credit crunch at London Fashion Week
By Paul Casciato
LONDON (Reuters) – Turmoil on the financial markets hasn’t made small buyers timid at London Fashion Week.
A brief tour of the exhibition stands found a number of smaller retailers and at least one big online fashion sales company on the hunt for bags, shoes, jewelry and clothing with money to spend and customers [...]
Tiffany U.S. fortunes could turn at holidays
By Aarthi Sivaraman
NEW YORK (Reuters) – The upcoming holiday season at upscale jeweler Tiffany & Co (TIF.N: Quote, Profile, Research, Stock Buzz) could be the beginning of renewed growth at its established U.S. stores, its chief executive told Reuters on Thursday.
Despite moderating sales expectations, Tiffany said it expects a “modest increase” in fourth-quarter same-store sales [...]
Hurricane Ike threatens Bahamas, Hanna toll grows
By Joseph Guyler Delva
GONAIVES, Haiti (Reuters) – Powerful Hurricane Ike weakened slightly as it charged across the Atlantic toward the Bahamas and the United States on Thursday while Tropical Storm Hanna’s death toll from floods in Haiti grew to 90.
Campgrounds were closed and some evacuations began on North Carolina’s Outer Banks as Hanna churned east [...]