U.S. clothing makers are finding retailers that once stocked their stores with a variety of European brands are buying locally, given the cost of doing business internationally with a weak American dollar.
Riitta Immonen, one of the two founders of Finnish fashion and textile design company Marimekko known for its bold and colourful prints, has died at the age of 90, her biographer said on Monday August 25th.
Specialty retailer Charming Shoppes Inc said it will sell its non-core misses apparel catalogs and the related portion of credit card receivables for $75 million in cash, and that it also plans to sell another business as it tries to focus on its core brands.
Pacific Sunwear of California Inc shares plunged more than 35 percent to their lowest ever level after a weak second half 2008 forecast prompted a slew of brokerage downgrades on the teen-apparel retailer's stock.
Gap Inc reported a 50 percent jump in quarterly net income on Thursday, beating Wall Street estimates, as cost-cutting, lower inventories and other moves that boosted profit offset declining sales at its family of clothing stores.
Women's clothing retailer AnnTaylor Stores Corp reported a higher-than-expected quarterly profit and affirmed its full-year outlook, as tight control of inventories and costs helped offset falling sales.
Limited Brands Inc posted a better-than-expected 35 percent rise in adjusted quarterly earnings by controlling costs and inventory, and raised its fiscal-year earnings outlook, sending shares up 10 percent.
Gap Inc said on Thursday that higher profit margins contributed to a rise in quarterly net profit that beat Wall Street projections by a penny, even as sales trends proved disappointing at its chains. Gap shares rose 1.