As art collectors flock to Paris next week for a giant sale of works amassed by Yves Saint Laurent and his partner, an auction of hundreds of the designer's vintage pieces a few days later may give them a reason to stay.
Footwear retailer Brown Shoe Co Inc said it expects to cut 12 percent to 14 percent of its domestic work force, excluding stores and distribution centers, and take a charge of $27 million to $30 million related to its cost-reduction actions.
Shoe maker Wolverine World Wide Inc (WWW.N) reported higher-than-expected fourth-quarter results as strong sales of its core brands offset foreign exchange headwinds, and forecast 2009 earnings in line with analysts' estimates.
Shoe and bag maker Tod's will update on the key Christmas period this week, and like other Italian fashion companies is likely to show that sales went better than expected but maybe at the cost of margins.
Footwear retailer Brown Shoe Co Inc (BWS.N) said it will cut jobs and close some stores as part of its cost-reduction initiatives, and expects annual savings of about $22 million, beginning in fiscal 2009.
Genesco Inc (GCO.N) forecast bleak same-store sales for the fourth quarter due to deteriorating retail trends across all its segments, including its Underground Station stores and Johnston & Murphy stores.
Italian luxury shoe and bag maker Tod's SpA will have "an optimal" 2008 if the current trend continues, or even if it slows a little, Chairman and Chief Executive Officer Diego Della Valle said on Tuesday.