Giorgio Armani explored a merger with French luxury group Hermes but without success, the Italian designer told Bloomberg, adding he planned to keep control of his fashion empire as long as he stays healthy.
T-shirt maker Gildan Activewear's fourth-quarter net profit nearly halved, missing Wall Street estimates, as higher costs and an unfavourable product mix offset gains from higher selling prices and improved manufacturing efficiencies.
Lululemon Athletica Inc reported a higher quarterly profit as sales gains from the clothier's new stores outstripped a weaker Canadian dollar and economic downturn, but the company cut its full year outlook as it braced for tough times.
Shares of Urban Outfitters Inc fell as much as 22 percent Thursday, a day after the apparel retailer posted flat same-stores sales for November and warned sales trends could worsen further during the rest of the holiday season.
British fashion retailer Mulberry Group Plc warned that its full-year results would be below current market expectations and lower than last year due to a slowdown in consumer demand as it posted a 6 percent rise in first-half pretax profit helped by better margins.
Defying the economic gloom, a diamond with a rich royal pedigree went under the hammer at Christie's auction house Wednesday for a record 16.4 million pounds (24.3 million dollars, 18.7 million euros).
The U.S. plan for the emerging field of nanotechnology lacks vision, fails to assess risk and leaves the industry vulnerable to public mistrust, the National Research Council said in a report released on Wednesday.