Retailers from Forever 21 Inc. to Gap Inc. have rushed to Hong Kong to reach the 28 million Chinese tourists passing through last year. To do so, they are paying some of the world's highest rents.
Derivatives traders and bond investors are losing confidence in Gap Inc. as the largest U.S. apparel chain faces declining profit amid what the company said are the worst inflationary pressures in three decades.
Credit-default swaps on Gap Inc. jumped to the highest level since July 2007 after the largest U.S. apparel chain cut its full-year profit forecast.
Ross Stores Inc. is gaining on rivals as its 60 percent discounts on Calvin Klein shirts and Nike sneakers win customers seeking bargains amid a slowing economy.
"Just as we've been over the past decade, we are committed to maintaining a sound financial policy, a strong credit profile and a focus on liquidity."
- Louise Callagy on Jul 11, 2011