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Wednesday, May 22, 2013 - 11:24

Gap Willing to Sign Bangladesh Safety Accord, If Tweaked

SAN FRANCISCO, United States — Gap Inc’s chairman and CEO said on Tuesday the U.S. retailer was ready to sign a global accord designed to prevent another deadly disaster in Bangladesh’s garment industry, provided there were some “very minor accommodations.”

A series of incidents at factories has...

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Wednesday, May 22, 2013 - 11:16

Saks Surges After New York Post Reports It’s Considering Sale

NEW YORK, United States — Saks Inc. surged in late trading after the New York Post reported the department-store chain hired Goldman Sachs Group Inc. to help it explore alternatives, including a possible sale.

The shares rose 16 percent to $15.85 at 4:14 p.m. in New York after gaining 11 percent during regular trading....

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Wednesday, May 22, 2013 - 02:13

Primark to Provide Short-Term Financial Aid to Rana Plaza Victims

LONDON, United Kingdom — British fashion retailer Primark said on Tuesday it would provide short-term financial assistance to all victims and families affected by the collapse of Rana Plaza last month in Bangladesh while the clothing industry continues to formulate a long-term compensation plan.

The collapse of the...

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Wednesday, May 22, 2013 - 02:08

Is Fashion Just an Accessory at Richemont?

ZURICH, Switzerland — For luxury-goods maker Richemont, clothing and bags are going out of fashion. While Richemont last week reported a 30 percent gain in annual profit as shoppers spent more on its Cartier jewelry and IWC watches, leather goods and fashion brands such as Lancel and Chloé have struggled. Earnings at Richemont’...

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Tuesday, May 21, 2013 - 23:27

Gap Looks to Improve Overseas Grade

Market share outside North America lags at 0.25 percent, ceo Glenn Murphy tells shareholders.
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Tuesday, May 21, 2013 - 20:40

U.S., Myanmar Sign Economic Agreement

Accord could lead to more apparel sourcing with the country.
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Tuesday, May 21, 2013 - 17:02

Saks First-Quarter Same-Store Sales Beat Estimates

NEW YORK, United States — Saks Inc on Tuesday reported higher-than-expected first-quarter sales but said investments to launch an e-commerce site for its outlet chain would weigh more on profits than expected.

Sales at stores open at least a year rose 5.9 percent, while analysts were expecting a 2.6 percent increase,...

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Tuesday, May 21, 2013 - 15:21

Right Brain, Left Brain | Clouds Looming Over Australian Fashion

SYDNEY, Australia — On my last trip to Sydney, a wave of international e-commerce and high-street arrivals were just starting to take hold in Australia. A sprawling new Westfield mall had just opened in the city’s central business...

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Tuesday, May 21, 2013 - 13:42

Giuliano Fujiwara Taps New Creative Director

Antonio Azzuolo takes over starting with the spring 2014 collections.
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Tuesday, May 21, 2013 - 13:27

M&S Reports Second Year of Profit Decline on Fashion-Line Woes

LONDON, United Kingdom — Marks & Spencer Group Plc, the U.K.’s largest clothing retailer, said annual profit fell 5.8 percent as consumers spent less on its fashion goods, even as food sales increased.

So-called underlying profit before tax fell to 665.2 million pounds ($1.01 billion) in the year ended March 30, the...

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