Anxiety for Luxury Brands as Tiffany Reports Slowdown
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Tiffanyâs weak holiday sales sent jitters through the luxury-goods industry, which had seemed invulnerable to the economic slowdown.
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Women&#39;s apparel retailer Christopher &amp; Banks has posted a decline in a key December sales measure. The company reported same-store sales; those at stores open for at least a year, dropped by 7 percent for the month.
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In spite of a burst of Friday spending, the holiday shopping season got off to a sluggish start, forcing retailers to reassess their strategies for luring buyers. Slow sales reported by three retail sales trackers on Tuesday were blamed on higher fuel costs and an overall lack of confidence in the economy.
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Executives fuel spiralling demand for luxury goods amid growing inequality.
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As holiday shopping reaches the homestretch, consumers who are far removed from Madison Avenue and Rodeo Drive say they are holding down their spending.
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With fears of a U.S. recession sending shivers through the retail sector, menswear designers in Paris are following the lead of investors and seeking refuge in safe-haven values.
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Jewelers like Tiffany & Co , Zale Corp  and Finlay Enterprises  are set to release holiday sales data later this week -- and analysts are expecting less-than-sparkling results.
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The deep-discount retail chain is feeling the effects of cautious spending.
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As holiday shopping reaches the home stretch, consumers who are far removed from Madison Avenue and Rodeo Drive say they are holding down their spending.
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Jewelry retailer Tiffany &amp; Co., dragged down by weaker-than-expected sales in Japan and higher precious metal and diamond costs, recorded a 26 percent drop in third-quarter earnings.
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Tiffany & Company said yesterday that it would consider suggestions on strategy from Trian Fund Management, a New York investment firm that has become its largest shareholder. The companyâs stock price reached a three-year high.
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The Limited has decided to focus on its core brands, and the results so far are mixed.
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The nation's consumers, uninspired by this season's fashions and rattled by high gas prices and the weakening home market, shopped gingerly last month, extending the misery of retailers who have struggled with a spending slowdown since February.
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Shares of the world&#39;s largest retailer are likely to come under pressure later Monday, after the company threw a shadow over preliminary holiday retail data when it cut its estimates on Saturday.
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A precipitous slowdown in advertising growth has raised new questions about AOLâs transformation plans.
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Following a lukewarm shopping weekend, the nation's stores are now focusing their attention on the final week leading to Christmas, as consumers seem to be postponing more of their buying to the last minute compared to a year ago.
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Retailers are in for a gloomy holiday season, with shoppers weighed down by the weakening housing market and the credit crunch, according to industry forecasts.