Shares of Perry Ellis International Inc plunged to their lowest levels in almost 8 years, as the apparel maker, stung by bigger discounts and ballooning costs, sees bleak days ahead amid a stormy retail environment.
For years the undisputed leader at high-end hair salons, L'Oreal is losing its shine as hair stylists turn to cheaper products from rivals such as Germany's Wella and Schwarzkopf to weather an economic downturn.
Philip Green, the billionaire owner of Bhs department stores and the Arcadia group of fashion companies, said he has purchased a 28 percent stake in Moss Bros and was considering making an offer for the mens fashion retailer.
Bankrupt apparel retailer Harold's Stores Inc HRLS.PK will close all its 43 stores after a bankruptcy court approved plans for the chain to begin going-out-of business sales, liquidation adviser Gordon Brothers Group said on Tuesday.
Last year at this time, Kathy Johnson and her husband travelled to London and Paris, where she spent about $2,000 (1,288 pounds) on a shiny, red Louis Vuitton shoulder bag and a matching charm without much thought.
Watchmaker Fossil Inc posted better-than-expected quarterly results, but cut its fourth-quarter earnings outlook to reflect a weaker economy and pressure from the strengthening U.S. dollar, sending its shares down 6 percent.