U.S. retailers reported a mixed bag of May sales results on Thursday, with consumers focused on lower prices and essentials like food, but signs emerged that tax rebates were helping to spur some spending.
Luxury goods makers are hoping to weather a consumption slowdown in the United States and Japan, their two biggest markets, with the help of shoppers in emerging economies and super-rich clients who do not feel the economic pinch.
Last week Haider Lefta took the boards off his shop renting out musical instruments and session bands for parties, and dusted off a wooden "oud" -- the traditional Arabic lute central to much Iraqi music.
Shares in fashion brand Burberry Group gained almost 4 percent on Wednesday as traders cited market talk of a possible bid from U.S. handbag maker Coach . Burberry was not immediately available for comment.
Italian casual clothing brand Diesel on Monday April 21th unveiled a new flagship store in Tokyo, its biggest in Asia, setting its sights on hip baby boomers and ageing fashionistas amid a shrinking youth market.