Japan's retailers were struggling with sluggish sales before Friday's earthquake and tsunami. Now their challenge is more daunting with heightened uncertainty about the economy set to squeeze consumer spending further.
Europe-focused Esprit Holdings, Asia's No. 3 apparel retailer by market value, slightly missed analysts' first-half net profit forecasts but said it would continue to increase its retail selling space.
Japan's Fast Retailing said first-quarter operating profit fell 18.4 percent but kept its profit forecast intact for the year to August, confident it could withstand rising costs while it grapples with sluggish sales ...
The Japanese brand has suffered a 15% sales decline in the Japanese market, which accounts for 80% of its total turnover. The fall can be explained by increased local competition and mild Aumtumn-Winter weather.