Dollar Tree Inc shares touched a new year-high after the retailer posted a higher quarterly profit and raised its forecast for the year, buoyed by shoppers who headed to its stores for rock-bottom prices.
Outdoor goods retailer Blacks Leisure Group plunged into a pretax loss as its surfwear business continued to struggle, and said its request for more debt from lender Lloyds Banking Group was "a big ask."
French First Lady Carla Bruni-Sarkozy was named winner of an annual celebrity hat wearers' award on Monday 1 June, beating nominees including Britain's Queen Elizabeth II and Madonna to the millinery top spot.
Gap revealed its results for the first quarter of 2009, which ended on 2 May 2009. The revenues of the American group, which includes the Gap, Banana Republic and Old Navy brands, were lower than last year at $215 million compared with $249 million in the first quarter last year.
Abercrombie & Fitch Co's recent clearance activity with compelling discounts is leading to increased store traffic and sales, said FBR Capital Markets, while upgrading the apparel retailer a notch to "outperform".
The American consumer products group Procter & Gamble (P&G) announced on Thursday 28 May that it was expecting a profit per share between $3.65 and $3.80 for 2010, well below the expectations of the market, which had hoped for $3.93.
The Spanish off-the-peg clothing group Cortefiel (Women’Secret, Springfield, Cortefiel…) has named Juan Carlos Escribano Garcia-Bosque as their new CEO. He will succeed Anselm van den Auwelant who will take on the role of the group’s non-executive president.
German politicians duelled in weekend newspaper interviews over the merits of supporting troubled retailer Arcandor, which has warned it could go bust within weeks without more than $1 billion in state aid.
Simone Mantura is the new CEO of GIR + A&F. Jointly created less than two years ago by Marithé + François Girbaud and the Ferretti family, the company oversees the global production of the Designer and Le Jean lines.
After announcing a reinforcement of the interaction between local markets and global organization, the Adidas group has named Roland Auschel and Michael Stanier as director of sales and director of retail respectively.