Gap Inc on Tuesday 5 May named returning company veteran Julie Rosen as senior vice president of merchandising for its Banana Republic brand, whose higher prices have turned off cost-conscious shoppers during the downturn.
U.S. discount clothing retailer Filene's Basement Inc, which was recently acquired by an affiliate of the Buxbaum Group, filed for Chapter 11 bankruptcy protection on Monday 4 May, court documents showed.
Children's clothing retailer Carter's Inc posted an adjusted quarterly profit that handily beat market estimates, helped by strong performance of its brands, and cut its corporate workforce by 10% as part of a restructuring effort.
The Canessa brothers have been reunited. Ballantyne, taken over in 2004 by Alfredo Canessa and investment funds group Charme, has entrusted its presidency to Giacomo Canessa; following Giuseppe Rossi into the role.
Japan's second-largest retailer Aeon Co Ltd will shut 100 casual women's clothing shops in fiscal 2009, the Nikkei business daily said. Additionally, Blue Grass Co and Cox Co have also announced plans to close stores and cut back store expansion plans.