Shares in German luxury fashion house Escada slumped around 50 percent after the company's crucial bond exchange flopped. Escada said it had failed to get sufficient backing for its debt swap plans and that it would file for insolvency this week
On the surface of it, gold bulls would have good reason to fear months more of depressed demand from India, the world's top consumer: not only are prices still near record highs, but vital monsoon rains are in a deep deficit.
Fossil Inc reported a second-quarter profit that topped market estimates, helped by tighter expense controls and better inventory management, and raised its full-year earnings outlook, as the watchmaker expects fourth-quarter sales to pick up.
U.S. shoe and clothing maker Kenneth Cole Productions Inc posted a narrower-than-expected quarterly loss, helped by tight cost control and inventory management, and forecast a surprise third-quarter loss.
Puma sales, which include consolidated and license sales, reached €636.5 million during the second quarter, a currency-adjusted decrease of 2.6% and an increase of 1.2% in Euro terms, marking a solid performance in a globally challenging environment.