Surfstitch will extend its current trading halt on the ASX, on the back of implications from a $100 million class action and "the high level of uncertainty around the negotiations with the litigation funder."
Movado Group Inc. saw a major drop in sales for the first financial quarter of 2018, from $114.1 million in the same quarter last year to $99.3 million. The New Jersey-based company will put its focus on new products.
South African-based retailer Massmart reported on Thursday a near 2 percent fall in overall same-store sales in the first five months of the current year, as outlets outside its home market underperformed.
Strong earnings from the battered U.S. retail sector, which helped lift Wall Street on Thursday, also boosted shares of the hard-hit real estate investment trusts that own the properties where the retailers are located
The California-based footwear company, which owns brands such as Uggs and Teva, saw net sales fall 2.4% to $369.5 million in its 4th quarter but surprised investors with higher revenues and an unexpected profit.
Following its forays in higher-end apparel under the creative direction of Jenna Lyons, the struggling retailer has decided to realign with its former pricing strategy by slashing the prices of many of its basics.
Finally a bit of good news for the storied American retailer: Sears reported its first quarterly profit in nearly two years on Thursday, buoyed by the sale of its Craftsman brand and a program to cut $1.25B in costs.
Following a bad day on the stock market Wednesday and a 5% drop in its share price, Italian luxury group Salvatore Ferragamo on Thursday confirmed a cautious outlook for 2017 while sticking to its medium-term guidance.
Topshop isn’t giving up on Australia with news that brand owner Arcadia Group is in early talks to take control of the failed Australian Topshop and Topman operation following its voluntary administration filing.