Clothing retailer American Apparel Inc swung to a first-quarter loss, cut its full-year outlook and said it may have to restate prior financial statements due to the classification of its revolving credit facility, triggering a 20% slide in its stock.
Dick's Sporting Goods Inc posted higher-than-expected quarterly results as revenue from new stores offset weakness in its golf category, and it forecast second-quarter profit largely in line with market estimates.
K-Swiss must economise this year. After having seen a plunge of 28% in its results during the last quarter of 2008 and having closed its French subsidiary after just two years of its existence, the sports shoe specialist is parting ways with the brand Royal Elastics.
China's hunger for jewellery is boosting demand for platinum at a time when the metal is being hit by the ailing auto sector, metals consultancy Johnson Matthey said in an annual report released Monday 18 May.
Heelys Inc, which was exploring strategic options including a possible sale, said it would continue as an independent company given the difficult acquisition environment for discretionary consumer product companies.
China's top sportswear retailer Li Ning Co Ltd said on Friday 15 May its orders for the fourth quarter of 2009 had risen 14.5 percent year-on-year. The order growth was in line with expectations, CFO Yik Kay Chong told reporters.
Fashion retail giant Hennes & Mauritz reported on Friday 15 May a slightly bigger than expected 8 percent year-on-year rise in sales at established stores in April as spring purchases finally took off.