Nike Inc, the world's largest maker of athletic shoes and apparel, will slash 5 percent of its 35,000-strong global workforce, or 1,750 jobs, in the largest headcount reduction in the company's history.
Jefferies and Co upgraded Abercrombie & Fitch Co to "buy" from "hold," and said Wall Street has already drastically cut its earnings estimates for the teen clothing retailer and fundamentals are about to trough.
After having acquired Simmons Optics and Millett Industries last year, “in the framework of its growth through acquisition objectives”, Bushnell Outdoor has taken over Cébé, founded in 1892 and most recently held by Marcolin.
Apparel maker Warnaco Group Inc posted a higher-than-expected quarterly profit on Tuesday 12 May, helped by cost cuts, and raised the low end of its outlook for the year. Warnaco shares rose 7.5 percent in light premarket trade.
Private equity firm Axa sold the Lorraine based crystal producer Daum on the 11th of May to the holding company of businessman Prosper Amouyal, Financière Saint-Germain, which has already taken over the manufacturer Haviland and half of Lalique.
British mining group Anglo-American published a report on Thursday 30 April showing that iron ore is one of the only products for which production has increased in the first quarter, activity in general being strongly affected by the global slowdown.
Swiss specialty chemicals company Clariant AG posted a net loss of 91 million Swiss francs ($80.60 million) on Wednesday 6 May, underperforming analysts forecasts, due to high restructuring costs and continued falling customer demand.
Jil Sander has signed a licensing agreement with the luxury Italian shoe specialist Iris S.p.A for te manufacture and distribution of men’s and women’s shoes by Jil Sander. The fruits of this partnership will be on display and on sale during the spring-summer 2010 season.
Caris and Co began coverage of the U.S. youth specialty-apparel retail sector with a positive view, and said spending on apparel for teens and children is expected to suffer less than apparel spending on adults.
The watch and jewellery business Mywa has signed a licensing partnership with the sports’ brand Puma for its collection of watches. This replaces Puma’s contract with its previous partner, the Hong Kong based EganaGoldpfeil, which had expired.
Children's clothing retailer Carter's Inc posted an adjusted quarterly profit that handily beat market estimates, helped by strong performance of its brands, and cut its corporate workforce by 10% as part of a restructuring effort.