U.S. consumers slashed spending in October, shunning purchases of items over $1,000, as a global financial crisis battered their savings accounts and their psyches, according to figures released on Wednesday, October 5th by SpendingPulse, the retail data service of MasterCard Advisors.
Israel Barragan and his wife Isabel Navarro are hoping for a good Christmas at their home and kitchenware store Piu e Piu in Madrid, but say even buoyant sales are unlikely to save the three-year-old business.
During a recent trip to her expensive Hong Kong hairdresser, luxury brand consultant Radha Chadha asked her stylist if recent turmoil in the world's stock markets had affected business."I am now offering people shorter haircuts.
The CW is spinning off its hit reality series "America's Next Top Model." The network has ordered a pilot for "Operation Fabulous," starring "Top Model" regulars Jay Manuel and J.Alexander and executive produced by "Top Model" chiefs Tyra Banks and Ken Mok.
Japan's second-largest retailer, Aeon Co Ltd , posted a 13 percent fall in first-half operating profit on Wednesday as consumers rein in spending due to the slowing economy, but it stuck to its full-year outlook.
The Anglo-Japanese design duo Mark Eley and Wakoko Kishimoto brought in to rejuvenate Cacharel presented their first runway show on Monday, September 29th as the vintage French house celebrated its 50th birthday.
U.S. luxury shoppers scaled back spending in August, as concern about a declining stock market depressed consumer confidence among even the wealthiest of customers and stores braced for a prolonged downturn.
Namibia will impose a ban on all trade with 'worked ivory' from next month in a bid to assert its control and abide by international regulations on endangered species, an official said on Wednesday, August 20th.
U.S. retailers, led by the discounters, are expected to post slightly better June same- store sales this week, thanks to seasonal weather and rebate checks that have made their way to cash registers, mostly for basic items such as gasoline and food.
Some commercial real estate sectors could be in for dark days if housing values continue to fall and the U.S. economy deteriorates, the head of commercial real estate for Marathon Asset Management said on Monday.