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Japan Fashion Week is Canceled

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Japan Fashion Week Canceled

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In the wake of the devastating damage caused by the earthquake and tsunami -- not to mention growing fears of radiation in Tokyo -- the organizers of Japan Fashion Week have officially canceled the events planned.

Many of the brands involved in the week had already either canceled shows or postponed indefinitely, but the announcement also comes on the heels of some serious dips in the stocks of some of the country's most powerful retail brands. According to WWD, Shiseido fell 9.18 percent, Takashimaya slid 13.79 percent, and Fast Retailing -- Uniqlo's parent company -- fell a whopping 17.5 percent.

WWD also reports that some retailers remain closed on Tuesday, or planned shorter hours.

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