
Van Cleef & Arpels has not seen an improvement in trading in recent weeks and does not expect sales to rise this year even though it will open eight boutiques.
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Van Cleef & Arpels has not seen an improvement in trading in recent weeks and does not expect sales to rise this year even though it will open eight boutiques.
The head of mall owner Taubman Centers Inc on Tuesday 19 May said he was not backing away from his company's identity as a luxury mall owner and operator, despite the hard knocks upscale retail sales have taken.
A hedge fund firm with a stake in Saks Inc called for governance reforms, contending the struggling luxury retailer needs to adopt annual elections for all directors and become more responsive to investors.
Upscale retailer Neiman Marcus is trying to renegotiate a $600 million credit line due to mature next fall, the New York Post said, citing two sources.
The vice-president and director of men’s fashion at Neiman Marcus has retired from his role after working at the group for thirty seven years.
Standard & Poor's on Thursday 16 April cut its ratings on five U.S. retailers, and sent Macy's Inc and J.C. Penney Co into junk territory, citing concerns over the impact of the U.S. slowdown on department store sales.
Luxury goods sales worldwide could fall 10 percent this year to $201 billion, with the U.S. market in the greatest retreat, according to a forecast reported on Friday 10 April by the Wall Street Journal.
American Group Neiman Marcus, owned by private equity firms Warburg Pincus LLC and TPG Inc., announced on Tuesday 7 April the elimination of 130 jobs in its eponymous chain of luxury stores.
Bling is out and fine craftsmanship is in - that's the latest message from the luxury goods industry as it struggles to survive the global economic downturn.
Saks Inc will pass on lower prices from top brands such as Prada and Christian Dior, which the upscale chain said on Friday will help spur sales during a deepening economic recession.