Online spending rose 14.2 percent on the year in December, outperforming the wider retail industry but slowing from earlier in 2008 and suggesting the sector is not immune to economic downturn, a survey found.
SAC Capital Advisors LLC, the hedge fund firm run by billionaire trader Steve Cohen, slashed holdings in a number of retailers and small pharmaceutical companies at the end of last year, recent regulatory filings show.
Upscale retailer Neiman Marcus Group Inc NMRCUS.UL is inviting some of its best and loyal customers to special trunk shows or meetings with designers in hopes they will buy new fashion items at full price.
Regional department store chain Gottschalks Inc (GOTT.PK) said on Wednesday it filed to reorganize under bankruptcy protection, while apparel chain Goody's LLC plans to liquidate its remaining 282 stores in a return to Chapter 11.
Tiffany & Co cut its profit forecast again on Wednesday after sales over the holiday season fell 21 percent as the weak economy dealt a hard blow to the upscale jeweler, sending its shares down nearly 7 percent.
Fashion company Liz Claiborne Inc (LIZ.N) said on Tuesday that it amended and extended its revolving credit facility, removing a major concern for investors over its ability to meet debt covenants and sending shares up 11 percent.