It has been reported by the Herald Sun that Ksubi the clothing line based out of Sydney Australia has kept insufficient accounting records.  They state that the company owes $8 million dollars in back taxes.
Ksubi claims that they have taken up to $7 million in losses for the year.
The Australian Tax Office has been the [...]

Despite a weak start to the holiday shopping season and snowstorms on historically big spending days, the nation’s retailers managed to have a better Christmas than in 2008, according to the latest data
Read whole article at NYTimes

Japanese fashion designer Yohji Yamamoto recently presented his black, white and edgy designs at Spring-Summer 2010 fashion week in Paris but things weren’t so rosy behind the scenes. The brand has filed for bankruptcy protection listing debts of six billion yen, or $67.8 million. The firm is planning to continue to operate while in bankruptcy. [...]

The TJX Cos. Inc. board on Monday approved a new stock buyback program for as much as $1 billion of its common shares.
The amount represents about 6.2 percent of the off-price retailer’s…
Source WWD

Fashion is a business in which copying plays a major role in driving new styles and trends. Marc Jacobs putting his own twist on a classic Chanel design; fashion on the streets inspiring fashion on the runway; low-end retailers democratizing high-end trends by selling more cheaply made versions of designer apparel—these are all integral parts [...]

The STORES Top 100 Retailers are ranked by annual revenues as reported in SEC filing… from stores.org

TOKYO–Takashimaya Co. announced a steep drop both in sales and profits for the first quarter ended May 31.
Net profit dropped a whopping 93 percent to 316 million yen,…
Source : WWD & Takashimaya

Retail is definatly hurting during this economic downturn.
Source:  WWD

LONDON, United Kingdom — “Men’s and women’s polo t-shirts in 25 colours from £12.99!” Ads announcing this Uniqlo promotion have been plastered alongside London buses this month, as well as being featured front-and-centre in Uniqlo shops everywhere. Same-store sales rose 18.3 percent in May 2009 over last year for the Japanese retailer, and the company’s [...]

DALLAS–(BUSINESS WIRE)–Neiman Marcus, Inc. today reported financial results for the third quarter of fiscal year 2009. For the 13 weeks ended May 2, 2009, the Company reported total revenues of $810.1 million compared to $1.06 billion in the prior year. Comparable revenues decreased 25.1 percent. Operating earnings for the third quarter of fiscal year 2009 [...]