Fashion accessory and jewelry retailer Claire's Stores Inc posted a narrower first-quarter loss on a 10 percent revenue decline on Thursday 11 June, and warned that sales are getting worse in the second quarter.
You've "never had it so good," British Prime Minister Harold Macmillan told the first generation of mass-market consumers in 1957. "You may never have it so good again," appeared to be the message of many of executives and analysts at the Reuters luxury goods and retail summits.
From breeding their own crocodiles to tapping new low-cost centers for raw materials, luxury retailers are stepping up efforts to improve sourcing of goods, labor and expertise in the global economic slowdown.
Fewer party dresses, a return to the classics, lower price tags and emptier store shelves -- those are the strategies U.S. retailers have devised to try to successfully navigate this year's Christmas season.