Wal-Mart Stores Inc reported a flat quarterly profit that met Wall Street expectations on Thursday 14 May as the stronger U.S. dollar offset increased sales from shoppers seeking deals in its stores amid a global economic slowdown.
Nike Inc, the world's largest maker of athletic shoes and apparel, will slash 5 percent of its 35,000-strong global workforce, or 1,750 jobs, in the largest headcount reduction in the company's history.
China's top sportswear retailer Li Ning Co Ltd said on Friday 15 May its orders for the fourth quarter of 2009 had risen 14.5 percent year-on-year. The order growth was in line with expectations, CFO Yik Kay Chong told reporters.
Heelys Inc, which was exploring strategic options including a possible sale, said it would continue as an independent company given the difficult acquisition environment for discretionary consumer product companies.
Fashion retail giant Hennes & Mauritz reported on Friday 15 May a slightly bigger than expected 8 percent year-on-year rise in sales at established stores in April as spring purchases finally took off.
Bulgari shares tumbled 6.2% by the evening of Wednesday 13 May, to €3.8925. The Italian group has been sanctioned by investors for its first quarterly loss in ten years after the announcement at the end of the evening.
The subsidiary of Italian group Marcolin, Marcolin USA, is welcoming Riccardo Cadorin as vice-president of sales. He will head up sales teams based in the USA for the label’s lines of luxury and casual sunglasses.
LVMH is to take a minority stake in Edun, the ecological and ethical fashion start-up founded by Irish singer and campaigner Bono and his wife, the world's biggest luxury group said on Thursday 14 May.