2001 - Retail, Trade

Retail, Trade

Marks & Spencer puts its money-losing Brooks Brothers store chain up for sale in March, having paid $750 million for it in 1988. The Italian-controlled Retail Brand Alliance Inc. agrees in November to buy the chain for about $225 million.

Retailers worldwide report lower sales as a business recession combines with concerns about travel and war in Afghanistan to put a damper on consumer demand, but U.S. retail sales in December are off only slightly from 2000 levels.