As U.S. retailers prepare for the upcoming back-to-school and holiday shopping seasons, there may also be an uptick in the number of retailers that are preparing for a trip to bankruptcy court.
Zara has opened its first boutique in Egypt. The brand, of the Spanish giant Inditex, has installed itself in the Star Centre in Cairo, a shopping centre described as one of the largest in the Middle East with its five hundred stores.
The Court of Appeals in Paris has pushed back the decision concerning safety management by the former directors of La Samaritaine until June 24.
Montenegro's police force arrested a member of the "Pink Panther" gang notorious for jewellery shop robberies in Asia, Europe and the Middle East.
Africa, one of few places in the world still experiencing positive growth, holds huge potential for investors seeking new and profitable ventures amid a recession in most developed countries.
Bankrupt German retailer Arcandor, which holds about 53 percent in travel company Thomas Cook, will decide soon whether it will apply for an insolvency loan, a spokesman said on Monday 15 June.
The auction for Filene's Basement was adjourned until Monday 15 June, as rival bidders upped the ante over who will ultimately own the Boston-based discount department store.
Fashion accessory and jewelry retailer Claire's Stores Inc posted a narrower first-quarter loss on a 10 percent revenue decline on Thursday 11 June, and warned that sales are getting worse in the second quarter.
VF Corp, owner of brands such as Wrangler, Lee, Vans and The North Face, has seen its markets in the United States "stabilise" but does not expect a return to growth in 2009.
You've "never had it so good," British Prime Minister Harold Macmillan told the first generation of mass-market consumers in 1957. "You may never have it so good again," appeared to be the message of many of executives and analysts at the Reuters luxury goods and retail summits.
From breeding their own crocodiles to tapping new low-cost centers for raw materials, luxury retailers are stepping up efforts to improve sourcing of goods, labor and expertise in the global economic slowdown.
Italian department store chain Gruppo Coin has seen flat like-for-like sales in June so far after a "big pickup" in May, Chief Executive Stefano Beraldo said.
German prosecutors have opened a probe into possible breach of trust by former Arcandor Chief Executive Thomas Middelhoff.
The wave of bankruptcies that has eliminated dozens of U.S. retail chains could force landlords to rethink their traditional aversion to having small, independent retailers as tenants.
The recent wave of retail bankruptcies has left lots of empty storefronts in shopping centers and malls, and landlords may be in for a long drought as retailers curtail expansion plans amid recession.
