Struggling sportswear retailer JJB Sports vowed to survive after suffering a haemorrhaging of sales as key suppliers, such as Nike Inc and Adidas, cut deliveries because they feared the firm faced administration. JJB said revenue slumped 42.
The head of mall owner Taubman Centers Inc on Tuesday 19 May said he was not backing away from his company's identity as a luxury mall owner and operator, despite the hard knocks upscale retail sales have taken.
Mulberry has ended its joint-venture with its American partner. The luxury brand has announced that it has, in principle, agreed a deal to take total control of its boutiques and points of sales in the USA.
Saks Inc sought refuge in cost cuts to post a smaller-than-expected quarterly loss amid falling sales as department stores lose customers to lower-priced outlets like TJX Cos Inc, which reported higher revenue.