Leading global consumer goods exporter Li & Fung on Wednesday 10 June said the insolvency of one of Germany's biggest retailers, Arcandor, would impact the company's three-year plan to boost sales to $20 billion.
Italian retailer Gruppo Coin SpA's first-quarter results were flat as cost cuts offset weak sales, the company said on Wednesday 10 June. Net profit for the quarter ended April 30 was unchanged at 800,000 euros ($1.13 million).
German retailer Metro on Wednesday 10 June denied a press report it was thinking about selling to an Italian investor the combined department store group it hopes to create with insolvent Arcandor's Karstadt chain.
The collapse of the vast German retail group Arcandor, threatening 43,000 jobs, erupted into a bitter fight on Wednesday 10 June as politicians gear up for a national election in less than four months.
J.C. Penney Co Inc is more optimistic about its fourth quarter than the rest of its fiscal year, hoping new styles and affordable prices will help it win more sales than it did in the dismal 2008 holiday season.