Fashion retailer Hennes & Mauritz AB posted a smaller-than-expected 1 percent year-on-year fall in January sales at established stores. The mean forecast in a Reuters poll of 12 analysts had been for sales to fall 2.
Italy's Economic Development ministry says in a statement : Appoints three special administrators for IT Holding's Ittierre unit. The administrators are Stanislao Chimenti, Roberto Spada and Andrea Ciccoli. "The objective ... is to preserve the day-to-day business of Ittierre".
Russia turned the gas taps back on this week but the damage inflicted on central and eastern Europe will linger for months, adding to the pain the global economic downturn was already causing. "We suffered two consecutive shocks.
Children's Place Retail Stores Inc (PLCE.O) said it will cut about 350 jobs as it relocates its e-commerce business, citing lack of space at its present center. The company, whose rivals include Gymboree (GYMB.O), American Eagle Outfitters (AEO.
Associated British Foods Plc said on Thursday that its Primark retail chain's like-for-like sales rose about 4 percent in its first-quarter over Christmas as trading beat its own expectations despite the economic slowdown.
Retailer Marks & Spencer said on Wednesday it was cutting 1,230 jobs after a sharp fall in sales, and job losses in the financial sector added to pressure on the Bank of England to cut interest rates to a record low.
John Lewis, the employee-owned group seen as a barometer of retail spending, said on Friday sales surged at both its department stores and upmarket grocery chain in the days before and after Christmas.