Abercrombie & Fitch May same-store sales decline

(Reuters) - Wall Street had expected a same-store sales decline of 1.7 percent, according to Reuters survey.



The New Albany, Ohio based company, which also operates the abercrombie, Hollister Co. and RUEHL chains, said total sales for the four weeks ended June 2 rose 16 percent to $215 million.


Read more at Reuters.com Market News

Biomet accepts sweetened takeover offer

(Reuters) - Completion of the tender offer is subject to the condition that at least 75 percent of the Biomet common shares have been tendered.




Biomet canceled a June 8 special meeting of shareholders scheduled to vote on the original takeover offer. As part of the revised merger agreement, Biomet has agreed not to pay its annual dividend.


Read more at Reuters.com Bonds News

Meetic founder takes stake in French luxury website

(Reuters) - "I'm now a small shareholder," Simoncini told Reuters on the
margins of a news conference by Prestigium to announce its new
retail site, Myprestigium.com. He did not give details but said
the stake was a minority interest.




Prestigium has until now only provided information about
luxury goods companies and their products.


Read more at Reuters.com Mergers News

UPDATE 1-Transat profit up 23 percent in second quarter

(Reuters) - The Canadian holiday-travel company said it earned C$53.9
million , or C$1.58 a share, for the period
ended April 30, up from a profit of C$42.8 million, or C$1.24 a
share, for the same period last year.




Excluding the C$12.6 million after-tax gain from its new
hedge accounting standard, Transat said its net earnings for
the quarter would have been C$41.4 million, or C$1.21 a share.


Read more at Reuters.com Market News

Turkey to Keep Interest Rates High Until Drop in Inflation Is `Lasting'

(Bloomberg) -- Turkey's central bank said it plans to
keep interest rates high until it sees a ``lasting'' decline in
inflation.

``We're at a historic turning point in the fight against
inflation,'' bank Governor Durmus Yilmaz said at a conference in
the southeastern city of Gaziantep today. ``There's a danger of
tiring of the fight, but this would endanger all of the gains of
the last five years. Until inflation has been lowered in a lasting
way, we'll be keeping rates high.''


Read more at Bloomberg Emerging Markets News

Children's Place May same-store sales up 4 percent

(Reuters) - Wall Street had been expected a same-store sales gain of 3 percent, according to Reuters survey.



The children's clothing retailer said total sales in the four weeks ended June 2 rose 13 percent to $127.6 million.


Read more at Reuters.com Market News

Stocks in Russia Decline for Second Day, Led by Gazprom, Norilsk Nickel

(Bloomberg) -- Russian stocks declined for a second
day, led by OAO Gazprom and OAO GMK Norilsk Nickel.

The ruble-denominated Micex Index sank 0.4 percent to
1601.43 at 1:26 p.m. in Moscow. Six stocks advanced and 24
retreated. The dollar-denominated RTS Index dropped 0.4 percent
to 1815.70.


Read more at Bloomberg Stocks News