Escada shows promise, Asos sales double, China encourages exports, Retail stocks continue to rally

Escada S/S 09 ad campaign, courtesy of Escada

Escada S/S 09 ad campaign, courtesy of Escada

Escada seen up on report of unit sale (Reuters)
Could there finally be a way out of the red for beleaguered Escada? Shares in the German luxury-fashion company rose, “8.3 percent in pre-bourse trade making them one of the few German pre-market gainers after a report in the Frankfurter Allgemeine Sonntagszeitung says the company is in advanced talks with one suitor to sell its Primera subsidiary, which offers mid- to upper-market brands.”

Asos sees sales more than double (BBC)
Online sales continue their explosive growth. At ASOS, “sales for the 12 months to end of March came in at £165m, which was a rise of 104% from the previous year.”

China Govt: To Keep Raising Export-Tax Rebate On Textiles (WSJ)
“China will continue to increase export-tax rebates on textiles to stabilize the share of the world market held by domestic companies, and is aiming to keep textile export growth at an average of 8% each year through the end of 2011, the State Council, or Cabinet, said Friday.”

Stocks Rally for Seventh-Straight Week (WWD)
“Retail stocks rose 2.7 percent Friday, cementing the sector’s seventh-straight week on the rise despite continued concerns about shoppers and sales.” (Subscription required)