Esprit , the world's No.5 fashion retailer, lagged forecasts with a 12.5 percent rise in second-half profit, as waning consumer sentiment in its core European market offset a strong euro and sales growth elsewhere.
U.S. clothing makers are finding retailers that once stocked their stores with a variety of European brands are buying locally, given the cost of doing business internationally with a weak American dollar.
Sporting-goods retailer Hibbett Sports Inc posted quarterly revenue well ahead of market expectations as it sold more performance shoes and apparel, but profits failed to keep pace due to slightly lower margins.
Athletic-shoe retailer Foot Locker Inc posted a second-quarter profit, soundly beating market estimates, as fewer discounts boosted margins, sending its shares up as much as 11 percent. The company reported net income of $18.
Ross Stores Inc on Wednesday said quarterly profit rose 40 percent as cash-strapped customers shifted to the off-price retailer from department stores, and it raised its outlook for the rest of the year. Net income rose to $71.
U.S. Fashion accessories retailer PreVu Inc , formerly known as Wilsons The Leather Experts, said it will liquidate its remaining stores after it failed to obtain necessary financing for a new retail format.
Seymour Pierce upgraded British fashion chain Ted Baker to "buy" from "outperform," saying the company should benefit from a strong dollar, a relatively strong balance sheet and growth potential through new store openings.
Gold prices tumbled underneath 800 dollars per ounce on Friday August 15th, hitting a ten-month low point as the precious metal was hampered by the strong US currency and weak oil prices, analysts said.
Bankrupt U.S. department store chain Boscov's Inc will begin store closing sales at 10 stores on Saturday as part of its restructuring plan, according to liquidation company Gordon Brothers Group on Friday.