Japan's second-largest retailer, Aeon Co Ltd , posted a 13 percent fall in first-half operating profit on Wednesday as consumers rein in spending due to the slowing economy, but it stuck to its full-year outlook.
Top womenswear labels are bracing for the psychological impact of the global financial turmoil on consumers but hope to limit damage by shifting buying strategies and raising their profile, industry insiders told AFP.
U.S. shoppers worried by shrinking bank and retirement accounts tamped down spending across the board in September as the country's financial crisis worsened, MasterCard Advisors said in a report on Tuesday October 7th.
Top U.S. retailers, with the exception of discounters and warehouse clubs, are expected to post a drop in September sales this week as consumers balked at spending during an expanding financial markets crisis. Already hit hard by a U.S.
Bhs Group, the department store chain owned by billionaire Philip Green, posted a 40 percent fall in full-year operating profit on Tuesday, and for the fourth year running Green decided not to take a dividend.
Marks & Spencer is reining in investment, slashing costs and stepping up promotions amid signs of mounting pressure on consumers as banks tighten lending and house prices fall at the fastest rate for 17 years.
The emerging markets miracle will not be enough to prevent 2008 from being the year the Swiss watchmaking industry will suffer its first significant slowdown in half a decade. And 2009 is not looking any better.
Marks & Spencer will open its first store in mainland China on Oct. 2, the same day as a keenly-awaited trading update, in the latest move by an international retailer into the world's most populous country.