The first Gap store in Thailand should open in summer 2010, a licensing agreement between the American group and the local distributor Armin indicated. This follows a new drop in sales for Gap Inc in June.
Almost three-quarters of some of the world's largest retailers expect the current economic downturn to impact their business for up to two more years, according to a survey from business advisory firm AlixPartners.
Recent initiatives by Bebe Stores Inc to jump start its business may not be enough for those who blame the retailer's recent sales slump on its relatively high prices and a limited focus on its core brand.
Eastern Europe's biggest market was a teeming, highly profitable emporium of contraband clothing which thrived on Moscow's outskirts for nearly two decades -- until Prime Minister Vladimir Putin suddenly shut it down.