Sports-apparel maker Quiksilver Inc will receive only 40 percent of the originally agreed price for its Rossignol business, given the current turmoil in credit markets, but got an extension on a credit line that was due to mature on Friday.
China appears to be tightening supervision of foreign investments in the country amid a widening investigation of two senior commerce ministry officials, people with direct knowledge of the matter said.
An enormous shopping complex billed as the biggest in-town retail centre in Europe opened its doors in London on Thursday, October 30rd even as shoppers here struggle with the credit crunch and a slumping economy.Westfield London, a 1.
Avon Products Inc AVP.N, the world's largest direct seller of cosmetics, posted a quarterly profit that missed Wall Street expectations due to a drop in North American sales, sending shares down nearly 22 percent.
French cosmetics group L'Oreal on Thursday cut its full-year sales forecast for the second time in three months, citing tougher trading conditions, and posted third-quarter sales that came below forecasts.
Even the wealthiest consumers are cutting spending in the face of the global economic turmoil, which will likely push the worldwide luxury retail market into recession in 2009, a survey showed Wednesday, October 29th.
Under Armour Inc posted a higher-than-expected third-quarter profit on Tuesday, helped by strong sales, but the athletic apparel maker lowered its full-year outlook, citing the current economic environment. Net income rose to $25.