Saks Inc is unclear how a plan to file for bankruptcy from Icelandic investment firm Baugur, which owns Saks' shares, would affect the upscale U.S. department store chain, its chief executive said on Thursday March 12. Baugur owns about an 8.
American Eagle Outfitters Inc (AEO.N) reported sharply lower quarterly earnings on Wednesday, citing deep promotions during the holiday period, and the teen apparel retailer forecast continued profit declines. Net income tumbled to $32.
Icelandic retail investor Baugur, which has stakes in a number of British high street stores, is headed for liquidation after a court on Thursday March 5 rejected its request for financial restructuring.
Italian eyewear maker Safilo SpA's main shareholder said it was in talks with potential investors and could dilute its stake in the company, boosting Safilo shares on hopes of a cash injection. Only 3T, which has 39.
JP Morgan upgraded Family Dollar Stores Inc a notch to "neutral" on Friday, a day after the discount retailer posted comparable sales much above analyst estimates, and also raised its price target on the stock by $10 to $29.
AnnTaylor Stores Corp posted a loss almost twice as big as Wall Street expected on Friday, hurt by aggressive markdowns, and plans to would close 46 more stores as professional women buy less of its work-friendly clothing in the recession.
Athletic-shoes maker K-Swiss Inc swung to a fourth-quarter loss, which was wider than analysts' average estimate, and forecast weak 2009 results as it was hurt by a 36 percent drop in advance orders, sending its shares to their lowest in more than seven years.