Tiffany has announced the possible closure of sixteen Iridesse stores. The chain of pearl specialists was founded in 2004 but has not seen high sales figures in recent years, a shortcoming which has been exacerbated by the economic crisis.
To the four corners of the fashion world they have become the eye-catching part of a feminine silhouette. Today, Louboutin boutiques can be seen almost throughout the world. The last to date – in Sao Paolo – is also the first in Latin America.
Rising unemployment and tight credit are taking a mounting toll on U.S. companies catering to consumers, with more than 300 such companies now under credit stress, Standard & Poor's said on Monday March 16.
Sales at Pantaloon Retail (India) Ltd, India's largest listed retailer, rose 31.25 percent in February from a year earlier, the company's website showed on Friday March 13. Total sales for the month stood at 5.
Upscale retailer Neiman Marcus posted a quarterly loss on Wednesday March 18th, as sales suffered through the holiday season, and said it would be conservative in its outlook until consumer spending improves.
Dick's Sporting Goods Inc posted a better-than-expected adjusted quarterly profit and said it expects to reduce operating costs in 2009 by about $50 million through payroll and other expense reductions, sending its shares up 17 percent.
Saks Inc is unclear how a plan to file for bankruptcy from Icelandic investment firm Baugur, which owns Saks' shares, would affect the upscale U.S. department store chain, its chief executive said on Thursday March 12. Baugur owns about an 8.