Department store operator Kohl's Corp gave a weak outlook for the rest of 2009 due to higher costs from new store openings, but upscale retailer Nordstrom Inc raised its profit view for the year and said recent sales trends were encouraging.
The value of Japanese retail-targeted mutual funds rose to a 10-month high of 58.8 trillion yen ($613 billion) in July, lifted by inflows into international equities funds and strength in share prices.
Consumer goods exporter Li & Fung Ltd said profit would improve in the second half of the year after a weak first half amid early signs of an improving global economy, giving it confidence to reaffirm targets in its three-year plan.
Insolvent German tourism and retail group Arcandor said its had given up hopes of finding a new anchor shareholder and would focus on finding an investor for its department stores and its mail-order business.
Department store operator Macy's Inc posted a better-than-expected quarterly profit and raised its full-year outlook as cost cuts overshadowed lower sales, but mixed results from two of its suppliers showed that the retail industry remains challenging.
A Kenyan mob armed with clubs, spears and bows and arrows killed a prominent Scottish gemstone expert during a dispute over mining in a national park. Campbell Bridges was a pioneer in helping introduce the deep-blue gemstone tanzanite to the international jewelry market.