Li & Fung plans to expand its health, beauty and cosmetics business through acquisitions, aiming to double revenue from the sector to $1 billion by 2010, Managing Director William Fung said on Wednesday 13 May.
Fashion company Liz Claiborne Inc reported a quarterly loss deeper than Wall Street expected as retail sales remained weak in the recession, and its shares fell nearly 12 percent in light premarket trading.
Safilo's first-quarter net profit slumped 87 percent, hit by the consumer slowdown, and the Italian eyewear maker said it expected a difficult second quarter before some possible improvements later in the year.
Fragrance maker Inter Parfums Inc posted first-quarter profit that missed analysts' estimates, as a strong U.S. dollar took a big bite out of its sales amid a challenging retail environment, but it backed its 2009 outlook.
British mining group Anglo-American published a report on Thursday 30 April showing that iron ore is one of the only products for which production has increased in the first quarter, activity in general being strongly affected by the global slowdown.