Financial

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Financial

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Outlook Bullish for Retail Shares

Retail stocks should rally in the next two months thanks to strong October same-store sales, a Merrill Lynch analyst wrote in a research note.

In Brief: Karstadtquelle Stock Drop ... High Court Credit

KARSTADTQUELLE STOCK DROP: Shares of KarstadtQuelle hit a two-year low on Monday in reaction to comments about a possible bankruptcy made by the vice chairman of the crisis-ridden retail and catalogue group’s supervisory board, Wolfgang...

Saks Fifth Avenue to Close 11 Units

NEW YORK — Saks Fifth Avenue Enterprises, a unit of Saks Inc., said Friday it will close eight Saks Fifth Avenue stores and three Off 5th stores by early 2005 — reducing the unit’s total square footage by 7 percent — in order...

Armani Operating Earnings Jump 23%

MILAN — Giorgio Armani saw rising first-half profits and revenue in the second quarter, but witnessed a slowdown in U.S. retail sales.

Earnings before interest and taxes for the six months ended June 30 rose 23 percent to 89 million...

WWD Stock Index Inches Up

NEW YORK — The WWD Stock Index advanced for the first time in a month, gaining 0.3 percent to 1,083.65 from 1,080.33 a week ago.

Among the broader indices, the S&P 500 shook off record-high oil prices to rally 1.9...

Next Up: LVMH Sues Wet Seal

NEW YORK — A month after failing to win an injunction against Dooney & Bourke for allegedly copying its Murakami handbag design, LVMH Moët Hennessy Louis Vuitton is back on the offensive, this time against Wet Seal.

In a...

Europe Watch: Fashion Diplomacy ... Heading East ... Galeries Going ...

FASHION DIPLOMACY: Last year China sent six up-and-coming designers to show on the runway in Paris. Now the City of Light is reciprocating by dispatching its talent to China. Anne Valérie Hash, Lutz, Gaspard Yurkievich, Felipe Oliveira...

Shareholders Sue Hilfiger

Tommy Hilfiger Corp. was slapped with multiple shareholder lawsuits stemming from a federal criminal investigation of its U.S. subsidiary.

Oscar Gets Financial Boost

NEW YORK — Oscar de la Renta has new asset-backed financing that the company is earmarking to strengthen its U.S. business.

The amount of the loan was not disclosed, but it is a financing arrangement backed more by the designer’s...

In Brief: Shares Slammed ... Mercedes Bid

SHARES SLAMMED: Shares of The Talbots Inc. and Ann Taylor Stores Corp. dropped in Thursday trading after both were downgraded by Wall Street analysts. On Wednesday, Talbots warned September same-store sales would be in the negative low single...

H&M Earnings Jump 18% on Strong Sales

Hennes & Mauritz saw third-quarter profits climb 18 percent to $325.8 million, as sales gained 14 percent to $1.71 billion, led by the U.S.

Gov’t Won’t Aid Karstadt

BERLIN — German Chancellor Gerhard Schroeder said Thursday the German government would not take steps to bail out the KarstadtQuelle department store and mail order group, which earlier this week revealed a $1.7 billion restructuring plan....

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