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By Rida Khan 29 July, 2014Actor Rob Brown of HBO's "Treme" has settled a federal discrimination lawsuit against Macy's Inc and the city of New York, the retailer said on Thursday, resolving part of a "shop-and-frisk" controversy over racial profiling in the city.
By Rida Khan 29 July, 2014The South Africa-based retail group Pepkor has bought troubled New Zealand clothing retailer Postie Plus, Postie's administrators said on Friday.
By Rida Khan 29 July, 2014Europe's biggest online fashion retailer Zalando, a possible IPO candidate, said on Friday it had its first profitable quarter ever on an operating level.
By Rida Khan 29 July, 2014Sales growth slowed down at French luxury goods maker Hermes in the second quarter against the first, hit by lower demand in Japan and America and by adverse movements in foreign exchange rates.
By Rida Khan 29 July, 2014Italian luxury clothier Brunello Cucinelli on Thursday reported a 11.6 percent rise in first-half preliminary sales to 175.8 million euros ($237.8 million), thanks to a strong performance in the United States and Greater China.
By Rida Khan 29 July, 2014The Swedish giant H&M is celebrated its largest US opening today, July 17, at 589 Fifth Avenue in Manhattan. The store, the retailer’s 318th in the US, covers no less than 57,000 square feet spanning five floors. It’s also the first store in the world to comprehensively stock all of the fashion chain’s lines, including H&M Home.
By Rida Khan 25 July, 2014Fragrance and flavour maker Givaudan confirmed its mid-term targets after first-half net profit rose 13 percent, helped by strong volume gains and lower operational costs.
By Rida Khan 25 July, 2014Love Culture Inc on Wednesday filed for Chapter 11 bankruptcy and said it is up for sale, becoming the latest women's apparel retailer to seek protection from creditors. The company, which according to its website has 82 stores stretching from Massachusetts to Hawaii, joins Ashley Stewart Holdings Inc, Coldwater Creek Inc, Dots LLC and Loehmann's Inc among retailers to file for bankruptcy since late last year as consumers curb spending.
By Rida Khan 25 July, 2014EBay Inc posted a 13 percent rise in quarterly revenue on Wednesday, as it fended off increasing competition from arch-foe Amazon.com Inc and a growing number of smaller niche retail websites. The company reported second-quarter revenue of $4.37 billion, versus $3.88 billion a year ago and the $4.38 billion that Wall Street had expected, on average.