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Esprit to divest North America operations, looking to offload 93 U.S. stores
Hong Kong -- On the heels of a 98% drop in its yearly earnings, Esprit Holdings said it is divesting its North American businesses and exiting three major European markets.
The company said it is actively looking for a partner willing to acquire its North American operations, which include 93 stores in the United States.
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Retail sales virtually unchanged for August
WASHINGTON — Retail sales for the month of August were flat, the U.S. Census Bureau disclosed on Wednesday.
Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, sales totaled $389.5 billion. Compared with the year-ago period, however, sales rose 7.2%. Trade sales edged up slightly by 0.1% from July, as well as 7.5% above August 2010.