Gold eased on Monday 11 May, weighed down by a recovery in investor confidence, but losses were limited by the dollar's sharp decline.

Debenhams Plc, Britain's second-biggest department store group, is working on plans to raise up to 500 million pounds ($733 million) in a rights issue in the next few weeks to cut its 927 million pounds debt pile.

Retail veteran Vittorio Radice, who made his name in the 1990s by turning London department store Selfridges into a trend-setter, said on Friday 8 May there is unlikely to be recovery in the retail sector until 2012.

Retailers sought to dampen hopes of a quick recovery from recession at an industry summit this week, warning a legacy of over-expansion, changing consumer habits and online competition could curb growth for years.

British discount fashion retailer Primark is squaring up to Hennes & Mauritz as it muscles into the Swedish fashion giant's biggest market with its first store opening in Germany in two weeks time.

Wal-Mart, the world's top retailer, said on Wednesday 6 May it has launched a pilot program to open convenience stores in China, seeking to boost its presence in one of the world's fastest growing retail markets.

Online auctioneer eBay Inc said on Tuesday 5 May it will close its facility in Vancouver, British Columbia, that employs roughly 700 people as it consolidates its North America customer service centers.

Retailers are experiencing the worst economic downturn in living memory, according to a straw poll of delegates at the World Retail Congress in Barcelona. But some of them are seeing signs that recovery is on the way.

Several U.S. retailers reported better-than-expected monthly sales figures for a second straight month in April, offering fresh evidence that consumers' willingness to spend is warming up with the spring weather.

Giorgio Armani's core profit fell 14.6 percent last year as the recession took its toll on the world of fashion. There is no doubt that 2008 has been a difficult year for the fashion and luxury market," Armani, who is in his 70s, said in a statement on Thursday 7 May.

Home Shopping Network operator HSN Inc posted a 68 percent fall in quarterly profit, hurt mainly by a 22 percent drop in sales at its Cornerstone Brands segment.

Australia's largest department store chain Myer Ltd said on Thursday 7 May sales for the first eight weeks of its second half improved thanks to increased spending on marketing and a government stimulus package.

Bebe Stores Inc swung to a third-quarter loss as expenses rose, but the Mall-based women's apparel retailer said it expects to post a profit in the current quarter.

Snowboarding gear retailer Zumiez Inc reported a narrower-than-expected 13.8 percent fall in April sales at stores open at least a year and forecast a narrower first-quarter loss, sending its shares up 2 percent.

The global luxury market could shrink much more than expected in 2009. Bain & Company explained on Wednesday 29 April that the economic crisis having greatly affected the purchasing behavior of consumers of top-of-the-range products.