J.C. Penney Co Inc forecast a full-year profit below Wall Street expectations and stoked concerns that it may need further discounts to clear merchandise built up last quarter, sending its shares lower.
Consumer goods exporter Li & Fung Ltd posted a 55 percent rise in first-half profit, its best growth in a more than a decade, but said meeting sales and profit targets set in a three-year plan ending this year will be challenging because of the global downturn.
Macy's Inc reported higher-than-expected quarterly earnings on strength in its exclusive lines and at its upscale Bloomingdale's chain, and the retailer raised its full-year sales and profit forecasts.
Trading in shares of consumer goods exporter Li & Fung Ltd was suspended on Tuesday pending a statement on a plan to take Integrated Distribution Services Group Ltd private, the companies said in filings to Hong Kong bourse.
Fashion is becoming one of the most demanded products on the Internet thanks to the 'boom' in online portals. Clothing, accessories and footwear brands prosper from websales, but now also traditional textile empires are joining the online network.