Retail and Consumer
NEW YORK Top luxury brands that long ago shunned outlet malls as America's bargain bin are now moving more aggressively with plans to build more outlet stores and take advantage of shoppers' love of bargains.
NEW YORK, September 14 - So much for the death of department stores.
Groupon Inc is working on cross-border and multi-country deals as the world's largest online daily deals provider looks for newer ways to build market share and help retailers broaden their footprint, a top executive said.
NEW YORK Home Depot Inc has already started selling goods on website 360buy.com in China and is looking for opportunities to partner with other e-commerce sites as it tries to maintain a presence in the world's most populous country even as it abandons its big box stores there.
LONDON Marks & Spencer has fixed the stock management problems that hit womenswear sales in the last six months, its CEO said, adding he did not feel under pressure from investors despite renewed talk of a possible bid for the British retailer. | Video
DUBAI Dubai group Paris Gallery, which stocks a $300,000 perfume among its luxury products, is planning an initial public offering it said would provide a "safety net" for the family-owned business and help it expand beyond the Gulf.
NEW YORK Tumi Holdings Inc plans to make stores in airports a big part of its expansion push, and the high-end luggage and accessories maker could have about 50 such stores in the United States over time, up from a handful now, its chief executive said on Thursday.
PARIS British fashion house Burberry's profit warning this week could put on ice potential acquisitions in the luxury sector as fears are growing that the industry's growth forecasts could be cut further, a top corporate finance executive told Reuters.
NEW YORK, SEPT. 13 - Tanger Factory Outlet Centers Inc CEO thinks U.S. consumers can support 100 more outlet shopping centers over the next decade, saying the country is "many, many years away" from being saturated.
(For other news from Reuters Retail and Consumer Summit, click on http://www.reuters.com/summit/GlobalRetail12)
ZURICH Top end Swiss watch maker Ulysse Nardin said the global economic crisis was ratcheting up demand for its ultra-exclusive timepieces as buyers were looking for more conservative values in times of uncertainty.