Gap Inc reported a 50 percent jump in quarterly net income on Thursday, beating Wall Street estimates, as cost-cutting, lower inventories and other moves that boosted profit offset declining sales at its family of clothing stores.
Pacific Sunwear of California Inc shares plunged more than 35 percent to their lowest ever level after a weak second half 2008 forecast prompted a slew of brokerage downgrades on the teen-apparel retailer's stock.
Limited Brands Inc posted a better-than-expected 35 percent rise in adjusted quarterly earnings by controlling costs and inventory, and raised its fiscal-year earnings outlook, sending shares up 10 percent.
Gap Inc said on Thursday that higher profit margins contributed to a rise in quarterly net profit that beat Wall Street projections by a penny, even as sales trends proved disappointing at its chains. Gap shares rose 1.
Snowboarding gear retailer Zumiez Inc posted a better-than-expected quarterly profit, but lowered its fiscal 2008 outlook citing a challenging macro environment, sending its shares down as much as 8 percent.
Hot Topic Inc, a teen-clothing retailer, posted a narrower-than-expected loss for the second quarter, helped mainly by strong sales at its Torrid stores, and forecast weaker-than-estimated earnings for the rest of the year, sending its shares down more than 6 percent.
Shares in watchmaker and retailer Peace Mark were suspended Monday after private equity firm CVC Asia Pacific made an indicative offer for shares in the company in what sources called a "white knight" bid.
Belgian luxury lingerie retailer Van de Velde said on Monday it had raised its stake in the world's largest bra maker, Top Form International , to 23.3 percent from 16.4 percent. The shares were purchased at an average of 0.
Swedish fashion giant Hennes & Mauritz posted better-than-expected sales figures for July on Friday August 15th, defying an economic slowdown, as cost-conscious shoppers appeared to favour its moderately priced clothes.