AUSTRALIA: Country Road Pulls Out Of US Market

Confirming months of speculation, clothing retailer Country Road today announced that it is to exit the US market in a final push to return the business to profitability. The company said the move would allow it to focus on its core Australasian market. The announcement follows a strategic review of Country Road's US operation, which has suffered from tough trading conditions, exacerbated by the recession and worsening economy and the loss of consumer confidence after September 11.