Armed robbers pulled off one of the world's biggest jewellery heists at a famed Paris store, making off with diamonds and valuables worth 80 million euros (102 million dollars), investigators said Friday, December 5th.
IT Holding , the Italian company behind fashion brands including Malo and Gianfranco Ferre, mandated its chairman to continue exclusive talks with Chinese businessman Billy Ngok until the end of the year.
Slowing purchases of clothing and accessories may spur consolidation in the fashion industry, Liz Claiborne Inc's chief executive said on Friday, but the owner of the Juicy Couture and Kate Spade brands is not looking to make acquisitions right now.
Strolling the production lines of his toy factory in southern China, Peter Lin barks orders as hundreds of workers in green overalls snap wheels onto toy cars and affix tiny batteries into die-cast replica jets. Twelve months ago Lin could rest easy.
U.S. consumers struggling with recession were willing to shop more for clothes in November because of extreme discounting and colder weather after months of avoiding apparel purchases. Even though same-store apparel sales fell by 10.
Guess Inc reported on Thursday, December 4th a 10 percent rise in quarterly net income, beating Wall Street estimates, but the apparel retailer and wholesaler cut its revenue and profit outlook for 2008, sending its shares down more than two percent in after-hours trade.
Watch-maker Movado Group Inc posted a quarterly profit that was well below Street estimates, hurt by a fall in retail sales, and cut its fiscal year earnings outlook. Net profit for the third quarter, declined about 41 percent to $15.
Shoe maker Crocs Inc said on Wednesday, December 3rd that it had settled all litigation with rival Skechers USA Inc, which it had claimed infringed a number of its patents. The settlement terms were not disclosed.
U.S. women's apparel retailer filed for bankruptcy protection on Tuesday, December 2nd and said it plans to liquidate, becoming the latest retailer to succumb to the credit crisis and downturn in consumer spending.