The world's developed economies are headed for the first full-year contraction since World War II and governments should ramp up spending to support the global economy, the International Monetary Fund said on Thursday.
U.S. teen apparel retailer Abercrombie & Fitch Co named advertising agency executive Jonathan Ramsden as its new chief financial officer on Friday, erasing a degree of uncertainty ahead of the key holiday shopping season.
Britain's Prologic , the specialist software provider to fashion retailers, on Friday became the latest victim of the country's retail downturn, issuing a profit warning that sent its shares down 43 percent.
Women's apparel retailer Bebe Stores Inc reported a 25 percent fall in quarterly earnings, October comparable sales that were down 20 percent and projected a weak second quarter were current trends to continue.
World No. 2 sporting goods maker Adidas abandoned its 2009 outlook in light of growing economic uncertainty but still confirmed on Thursday its forecasts for this year. Adidas shares dropped 9.4 percent to 26.71 euros by 1025 GMT underperforming a 4.
Hermes on Thursday became the latest European luxury group to cut its sales growth target, caught by global consumer spending gloom, and said trading worsened in October, sending its shares down sharply.