MUMBAI, June 22 (Reuters) – U.S. industrial and consumer
goods conglomerate 3M Co’s Indian unit expects revenue
growth of 28 to 30 percent in 2011 as it expands into smaller
towns and plans to step up hiring in the country, a company
executive said.

3M, known for its Post-It notes and health and safety gear,
also plans to invest about 1.5 billion rupees ($33.5 million) in
India this year — mostly in R&D and manufacturing, Ajay
Nanavati, managing director of 3M India, told Reuters in an
interview.
   “We’ve spent more in India in the last couple of years than
we’ve spent in the prior 15,” Nanavati said, adding that the
company is planning to raise its headcount to about 3,500
employees in 5 years.

BANGALORE, June 22 (Reuters) – U.S. industrial and consumer
goods conglomerate 3M Co’s (MMM.N: Quote, Profile, Research) Indian unit expects revenue
growth of 28-30 percent in 2011 as it expands into smaller towns
and plans to step up hiring in the country, a company executive
said.

3M, known for its Post-It notes and health and safety gear,
also plans to invest about 1.5 billion rupees ($33.5 million) in
India this year — mostly in R&D and manufacturing, Ajay
Nanavati, managing director of 3M India, told Reuters in an
interview.

BANGALORE (Reuters) – Women’s clothing retailer Talbots Inc (TLB.N: Quote, Profile, Research, Stock Buzz) warned its revenue would fall for a fifth straight quarter while heavy discounting shrinks its margins, knocking off more than a third of the company’s market value as investors grow tired of waiting on a year-long makeover.

Shares of the company tumbled as much as 37 percent, while the broader S&P Retail Index was up 1.08 percent.

BANGALORE (Reuters) – Newell Rubbermaid Inc (NWL.N: Quote, Profile, Research, Stock Buzz) cut its outlook for the year blaming a weak economy and a rise in costs, leaving investors jittery as the company gets ready to replace its CEO of five years.

The maker of Sharpie pens and Rubbermaid storage containers also said its second-quarter results would fall short of current market estimates, sending its shares down 12 percent.

BANGALORE (Reuters) – Jones Group Inc (JNY.N: Quote, Profile, Research, Stock Buzz) said it had acquired upscale British shoe retailer Kurt Geiger from private equity firm Graphite Capital to increase its foothold in the international luxury market.

The deal is valued at about $350 million including assumption of about $100 million in debt, Jones Group said.

BANGALORE (Reuters) – Ann Inc (ANN.N: Quote, Profile, Research, Stock Buzz), the parent of Ann Taylor and LOFT stores, saw first-quarter margins slip as it discounted more to get sales in an unseasonably cold spring and a highly competitive space, raising concerns about the company’s turnaround this year.

Shares of the women’s clothing retailer fell 6 percent to a near two-month low of $28.47 in Friday morning trade on the New York Stock Exchange.

BANGALORE (Reuters) – Aeropostale Inc (ARO.N: Quote, Profile, Research, Stock Buzz) forecast second-quarter earnings much below analysts’ estimates, as the teen retailer struggles with rising cotton costs, big discounts and competition with peers.

Shares of the company were down 11 percent at $18.90 after the bell.

For the second quarter, the company expects to earn 11-16 cents per share, compared with analysts’ expectations of 27 cents a share, according to Thomson Reuters I/B/E/S.

BANGALORE, May 19 (Reuters) – Aeropostale Inc
forecast second-quarter earnings much below analysts’ estimates,
as the teen retailer struggles with rising cotton costs, big
discounts and competition with peers.

Shares of the company were down 11 percent at $18.90 after
the bell.

For the second quarter, the company expects to earn 11-16
cents per share, compared with analysts’ expectations of 27
cents a share, according to Thomson Reuters I/B/E/S.

BANGALORE, May 18 (Reuters) – Abercrombie & Fitch Co
beat Wall Street’s quarterly profit estimates for the fourth
time in a row, as the teen retailer gained market share from
rivals in both domestic and international markets, sending its
shares up 5 percent at open.

The company’s decision to give up its
high-priced-and-won’t-discount stance has helped, with teenagers
happily returning to its stores to shop for denims and T-shirts.

BANGALORE, May 18 (Reuters) – Women’s clothing retailer
Chico’s FAS Inc saw margins grow as shoppers readily
spent money on clothes that sell at full price, but sales at the
company did not grow as much as expected.

Chico’s, whose chains include namesake stores as well as the
White House/Black Market and Soma Intimates chains, saw margins
rise 60 basis points to 59.1 percent.