British fashion and homewares retailer Next expects underlying sales at its stores to fall by a greater amount in November and December than they did in its third quarter, said finance director David Keens. "We don't expect the minus 4.
- Cosmetics maker Revlon Inc posted a quarterly loss, excluding a gain from the sale of some of its Brazilian brands, and said the uncertain economic conditions may affect sales for the remainder of 2008, sending its shares down as much as 29 percent.
Target Corp is launching a new fashion program aimed at collaborating with established designers, and the discount retailer will kick off the initiative in March with an apparel line by Alexander McQueen.
Heelys Inc , maker of novelty sneakers that double as roller skates, said its board had retained investment bank Houlihan Lokey as financial advisor to help it evaluate possible strategic alternatives.
Facing the weakest holiday season in nearly two decades, retailers and the vendors who keep their shelves stocked are walking a fine line between helping each other stay afloat and protecting their profits.
The German cosmetics group Beiersdorf, maker of Nivea creams, said Tuesday, October 4th it would meet its 2008 targets despite a drop in third quarter net profit."We remain optimistic that we will meet our targets for 2008," chairman Thomas-B.
BMO Capital Markets downgraded clothing retailers Reitmans Ltd and Lululemon Athletica to "underperform" from "market perform," and said the companies' margins will be hit by their exposure to a weak Canadian dollar amid a slowdown in the economy.