Whilst results from luxury brands do not appear to have been hit too harshly by the recent financial turmoil in the USA, some lower-priced retailers are starting to feel the pinch. Sales slipped 8% to $173.9 million for the third quarter at American footwear retailer Shoe Carnival, Inc. due to warm weather and a “challenging economic environment”, whilst New York-based specialty athletic retailer Foot Locker Inc. reported a loss of $33 million, compared with net income of $65 million in the same period last year.

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