Supermarket mogul Ron Burkle and his investment arm, Yucaipa, have purchased a large amount of U.S. luxury retail chain Barneys New York's debt, the Wall Street Journal said, citing people familiar with the matter.
As the economy shows signs of stabilizing, major retail brokers are increasingly comfortable with leaving the largest brokerage houses and setting out on their own, according to a company that provides services to the brokers.
Brimming with style, Beirut is regaining its reputation as a shoppers' paradise, with luxury labels such as Christian Dior and Louis Vuitton among a slew of shops opening in the city's renovated souks.
General Growth Properties expects 170 of its corporate entities to exit bankruptcy by the end of this year after reaching an agreement with creditors to extend loans, the mall operator told U.S. Bankruptcy Court in New York.
South African clothing and food retailer Woolworths expects a 20 percent fall in first-half earnings per share and said economic conditions were expected to be tough for the remainder of the 2010 financial year.
Off-price retailer Ross Stores Inc posted an in-line quarterly profit, helped by better margins, but the company maintained its fourth-quarter earnings forecast which was below market expectations, sending its shares down 4 percent.
U.S. teen clothing retailer Hot Topic Inc and Gymboree Corp, which caters to children, both forecast holiday quarter earnings below market estimates, sending their shares down in trading after the bell.