The world's developed economies are headed for the first full-year contraction since World War II and governments should ramp up spending to support the global economy, the International Monetary Fund said on Thursday.
Online fashion retailer EBTM Plc said on Friday it expects to post a small operating loss for the first half, mainly on challenging trading conditions for its wholesale division, and its shares fell 38 percent in morning trade.
Britain's Prologic , the specialist software provider to fashion retailers, on Friday became the latest victim of the country's retail downturn, issuing a profit warning that sent its shares down 43 percent.
U.S. teen apparel retailer Abercrombie & Fitch Co named advertising agency executive Jonathan Ramsden as its new chief financial officer on Friday, erasing a degree of uncertainty ahead of the key holiday shopping season.
Premium jeans brand True Religion Apparel Inc's third-quarter earnings beat market estimates, helped by a strong performance at its wholesale business within the United States, and raised its 2008 outlook, sending its shares up more than 10 percent.
Women's apparel retailer Bebe Stores Inc reported a 25 percent fall in quarterly earnings, October comparable sales that were down 20 percent and projected a weak second quarter were current trends to continue.
Many top U.S. retailers posted disappointing monthly sales on Thursday and some lowered their quarterly forecasts as a global financial crisis spurred consumers to clamp down even more on household budgets.