Abercrombie & Fitch shares drop sharply (AP)
“Shares of Abercrombie & Fitch Co. tumbled Thursday after the teen retailer posted a bigger-then-expected drop in same-store sales for May. Its stock shed $3.56, or 11.3 percent, to $28.12 in midday trading.”
Across Low and High Ends, Retail Sales Fell in May (New York Times)
“While there have been early signs of stabilization, including improving consumer confidence, concerns over unemployment and the troubled housing market have led many Americans to adopt thriftier behavior, spending on food and other everyday essentials and not much else.”
Offers for Safilo due on Friday – sources (Reuters)
One or more private equity funds will present offers for Italian eyewear maker Safilo SpA on Friday, two sources close to the matter said.
Chief Executive of Versace Is Expected to Resign Friday (New York Times)
“Giancarlo di Risio, chief executive of Gianni Versace since 2004, is expected to resign at a board meeting on Friday in Milan.”