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Financial

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In Brief: Vuitton No-go on Madison ... M&S Investors Tender Shares ... Outlook Negative

VUITTON NO-GO ON MADISON: Louis Vuitton has abandoned a plan to open on Madison Avenue, at least for the moment. The French leather goods, shoes, jewelry and ready-to-wear brand, was close to securing a lease at 845 Madison Ave. at 70th Street,...

EU to Remove U.S. Trade Penalty

EU Trade Commissioner Pascal Lamy said trade sanctions against $4 billion in U.S. exports, including apparel and textiles, will be lifted Jan. 1.

WWD Stock Index Gain Slight

NEW YORK — Although the broader markets slid on Friday as Wall Street fretted over the impact of higher fuel costs, the WWD Stock Index closed the week unscathed.

The WWD index finished last week up 0.7 percent to 1,083.63 from...

Aris Files for Chapter 11 Protection

Aris Industries Inc., the former owner of the XOXO juniors brand and a Baby Phat licensor, has filed for Chapter 11 bankruptcy protection.

IMF Offers Poor Countries Aid as Quotas are Lifted

The head of the International Monetary Fund said it is ready to assist poor countries to absorb the short-term costs from the end of the quota system.

Kellwood Stock Falls on Warning

Kellwood Co.’s stock dropped 8.9 percent Friday a day after its warning that increased markdowns would reduce third-quarter results.

New U.S. Corporate Tax Law Could End EU Tariffs

WASHINGTON — European Union Trade Commissioner Pascal Lamy could announce as early as today whether a corporate tax bill signed by President Bush on Friday goes far enough for the EU to lift 12 percent tariffs on $4 billion worth of U.S. exports,...

Kellwood Sees 3rd-Qtr. Shortfall

NEW YORK — Kellwood Co., blaming a tough retail climate and problems with some of its key brands, said Thursday it expects to miss its previous earnings guidance for the third quarter by 15 cents a share.

Profits for the quarter ended...

Sears Lowers Guidance for Holiday

After posting a third-quarter loss, Sears lowered its fourth-quarter sales and margin estimates, saying it has a “more cautious holiday outlook.”

Acquisitions Aid VF’s Earnings

VF Corp.’s third-quarter profits jumped 24.1 percent as flat jeanswear sales were offset by strength in other core brands and from acquisitions.

Kenneth Cole Net Up 22.2% in Qtr.

NEW YORK — Boosted partially by a decrease in merchandise markdowns, Kenneth Cole Productions Inc. on Thursday reported a 22.2 percent increase in third-quarter earnings, meeting analysts’ forecasts.

For the three months ended Sept....

More Plan to Buy Apparel for Holiday, but Expect to Spend Less

Consumers plan to spend an average of $163 each on apparel gifts this holiday season, 6 percent less than last year, though a higher percentage of people intend to buy in the category, according to a new research study.

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