(Reuters) – Carnival Corp (CCL.N: Quote, Profile, Research, Stock Buzz) (CCL.L: Quote, Profile, Research, Stock Buzz) said the Costa Concordia cruise ship catastrophe would wipe up to $175 million from its profits this year and warned of possible additional impact later on.
Carnival’s cruise ship Costa Concordia capsized off the coast of Italy earlier this month, killing at least 17 people. Fifteen people are still missing. The wreck is expected to lie near the Italian island of Giglio until the end of the year or longer before it can be broken up or salvaged.
By Ranjita Ganesan and Nivedita Bhattacharjee
(Reuters) – Shares of Urban Outfitters (URBN.O: Quote, Profile, Research, Stock Buzz) fell 20 percent on Wednesday, as investors reacted sharply to the sudden exit of the retailer’s CEO amid a planned turnaround and the naming of its co-founder to the top post.
On Tuesday, Urban Outfitters said CEO Glen Senk, who was with the company since 1994, resigned to pursue other opportunities. It named its chairman Richard Hayne as his replacement.
(Reuters) – Take a trip down Chicago’s Michigan Avenue – known as the “Miracle Mile” for its shopping attractions – and you won’t find a lot of activity a few days into the new year.
Nothing strange there – every year shoppers splurge ahead of Christmas and in the early post-holiday sales and then tend to disappear. But this year, retail experts say the hibernation will likely be deeper than usual.
Dec 20 (Reuters) – Nike Inc’s quarterly
results beat Wall Street estimates, as its swoosh logo attracted
shoppers, especially in emerging markets, despite higher prices.
Nike shares were up 3 percent at $96.65 in after-market
trade on Tuesday, after closing at $93.63 on the New York Stock
Dec 8 (Reuters) – Private equity firm Sycamore
Partners’ $ 3 a share bid for Talbots Inc
is “opportunistic and a very low offer,” a top investor
in the ailing retailer said.
On Tuesday, private equity firm Sycamore Partners, which
owns 9.9 percent of Talbots, offered to buy the company for
about $212 million. Talbots was worth about $110.3 million at
(Reuters) – Talbots is finally going to replace its chief executive after years of disappointments, and investors cheered the news, sending the lagging stock up 8 percent as they hope the women’s apparel chain can finally shed its stodgy image.
While Sullivan will see her way out of Talbots by the end of June, she will also take home $5 million in cash, along with other benefits.
Nov 30 (Reuters) – American Eagle Outfitters Inc
is betting that the strong sales trends it saw over the
Thanksgiving weekend will continue through the rest of the
holiday quarter and make up for high raw material costs and
The outlook drove American Eagle shares up as much as 9
percent on Wednesday on the New York Stock Exchange, before they
pared some gains to trade up 4 percent at $14.00.
(Reuters) – When shoppers hit the stores on Black Friday, Abercrombie & Fitch (ANF.N: Quote, Profile, Research, Stock Buzz) will face its biggest test this year as the preppy clothing retailer tries to prove the value of its cachet in teenage apparel to investors.
Abercrombie, the biggest of the teen clothing retailers by sales, has lost about 38 percent of its value since it warned in early November that European sales growth was slowing. Shares of rival American Eagle Outfitters (AEO.N: Quote, Profile, Research, Stock Buzz) were up less than 1 percent and shares of Aeropostale Inc (ARO.N: Quote, Profile, Research, Stock Buzz) rose 8 percent in the same period.
Nov 17 (Reuters) – Gap Inc said it plans to
“compete aggressively” on discounts to attract shoppers in the
crucial holiday season as the no. 1 U.S. clothes retailer
continues to look for ways wrestle back market share from its
The retailer, which competes with more affordable and
fashionable foreign players like Zara owner Inditex,
Uniqlo parent Fast Retailing and Hennes & Mauritz
, is trying to keep pace with fashion trends by
revamping its stores and merchandise, but without much success
(Reuters) – Abercrombie & Fitch (ANF.N: Quote, Profile, Research, Stock Buzz) said it sees margins remaining weak in the key holiday season but backed its international expansion plans, spooking investors, who drove the teen retailer’s stock down 14 percent Wednesday.
The preppy retailer had already lost nearly a quarter of its market value over the past two weeks, after it warned of slowing sales in Europe.