Levi Strauss & Co cut its annual profit forecast on Thursday, in a sign that higher costs were weighing on the denim clothing maker's margins as it struggles with falling sales at its wholesale channels in North America.
Australian retailers are in for a sombre period this fiscal year as high interest rates squeeze household budgets, especially for discretionary spending, Citigroup said on Thursday, with expected further rate hikes likely to dent confidence even more.
Nordstrom Inc posted a surprise first-quarter profit on Wednesday as better inventory control and demand from wealthy shoppers helped the company defy an inflation-driven slump in retail spending, sending its shares up 7% after hours.