Christian Louboutin & Yves Saint Laurent; Fight OVER!

A Manhattan federal district court entered a final order Thursday confirming that Christian Louboutin has no further claims against Yves Saint Laurent over red monochrome shoes and dismissing the lawsuit.

After 18 months of wrangling, a New York federal appeals court in September backed the validity of Louboutin’s red-sole trademark but said the French shoemaker would only be able to protect its mark when it comes to red-soled shoes with contrasting uppers. That decision gave YSL the right to continue selling its monochrome red pump. Louboutin first sued YSL in April 2011. As the case moved back to a New York federal district court for further evaluation of YSL’s counterclaims, YSL a month later dropped its claims against Louboutin. Thursday’s court order merely confirms closure of the litigation between the parties.
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J. Crew's CEO Responds to New York Times' Op-ed

Listen; I agree with Mickey...There is so much going on in the world that NY Times felt it was "fit to print" a customer complaint.
 J. Crew Group chairman and chief executive officer Millard “Mickey” Drexler wasted little time in responding to Delia Ephron’s Dec. 23 op-ed piece in The New York Times that castigated J. Crew for a botched online gift order (wrong merchandise sent to the wrong people and places, no gift-wrapping, cards “buried deep in the packaging”), and asserted the shift to holiday e-commerce has made seasonal gift-giving “as mundane and problematic as all our Web purchases, which in my family include paper towels and toilet paper.”
Bemoaning “intimacy replaced by expedience,” Ephron has resolved to never order Christmas presents online again.


M. Drexler - CEO J.Crew















Drexler’s response, published Thursday, expressed surprise “that a customer complaint was elevated to an indictment of online retailing,” which, he argued, “offers convenience, saves time, adds value and provides access to goods and services that might otherwise be difficult to obtain.”
J. Crew has shipped more than a million packages worldwide since Thanksgiving, the ceo noted, and Ephron’s experience, however unfortunate, “is hardly the norm.
“We certainly acknowledge that what is warranted in this situation is a sincere apology, but not a generalized defamation of an efficient and valuable way of shopping today,” Drexler concluded.
GO MIKEY!!!!

source: WWD

Luxury: Too Much Of A Good Thing?

For the past few years, we’ve been hearing lots about the burgeoning luxury market and how strong sales have been for luxury brands, despite the recession ($40,000 backpacks, anyone?). Only now, according to analysts, have those numbers begun to wane for certain labels.
Brands like Tiffany, Louis Vuitton, Gucci and Burberry all reported slow growth this quarter compared with years passed, in addition to seeing stocks fall this year.
But, why? According to a new report in the Financial Times, it’s because of an increasingly important factor in a luxury brand’s success: ubiquity.
Ubiquity is “the new buzzword for luxury” and, having too much of it is now “a major concern” for luxury brands, according to an HSBC analyst.

Perhaps the strongest example of a luxury brand that may be suffering from too much ubiquity is Burberry–a brand that has been heralded for its strong, clear brand message; outstanding social media presence; and success in attracting customers overseas.
But could those same characteristics now be hurting the British heritage brand? Burberry issued a profit warning in September after years of record-breaking sales.
Like most luxury brands, Burberry has been focusing on growing its Chinese customer base by opening stores and staging events, potentially at the cost of other, more discerning customers. “The need to reach new consumers is beginning to conflict with the perception among those consumers of what constitutes luxury,” writes Scheherazade Daneshkhu.



Other qualities contributing to ubiquity: retail availability, number of diffusion lines, and exclusivity by cost and product assortment.
Don’t pull out your investments just yet. Some brands are still doing fine. Hermes, for instance, remains the most exclusive of exclusive luxury brands and their sales and profitability targets have increased this year.
So what can brands do now to curb their ubiquity? According to the Financial Times, Vuitton is already making an effort by slowing Chinese expansion in favor of making their existing stores even more luxurious with VIP rooms and personalization. “You need the very unique pieces, not just logo,” said PPR CEO Francois-Henri Pinault, who may soon be investing in a new luxury brand.
It seems safe to say that in coming seasons, luxury consumers can expect more personal attention and expensive, limited-edition items. It will also be interesting to see if and how much these companies will be willing to slow down Chinese expansion, when the Chinese have just recently officially become the largest consumers of luxury goods in the world.
In addition to customers becoming increasingly discerning, perhaps this all goes back to the age-old idiom that we all just want what we can’t have.

Really?? Lord & Taylor Fifth Ave. Flagship to Open on Thanksgiving

What are they thinking??? Lord & Taylor on Fifth Avenue will be open for business on Thanksgiving Day, taking the competition by surprise by breaking the long-held tradition of remaining closed for the revered family holiday.

All of Manhattan’s other main flagships — Saks Fifth Avenue, Bergdorf Goodman, Macy’s and Bloomingdale’s — will stay closed Thanksgiving Day, although Lord & Taylor’s decision could force the hand of some to extend hours somehow.

Macy’s did open all of its stores last year at midnight following Thanksgiving Day to get the jump on Black Friday and will probably do it again this year because the strategy was considered successful. But under no circumstances will Macy’s or its sister division Bloomingdale’s be open Thanksgiving Day. “It’s parade day. We wouldn’t do that to our employees,” said one Macy’s source.


Lord & Taylor’s decision could irk many of its employees. But one source close to the retailer said, “Lord & Taylor wouldn’t do it if they didn’t have the associates to volunteer. They wouldn’t do it if the workers weren’t happy.” L&T said those working Thanksgiving Day are indeed volunteers and will get holiday pay, and that a portion of the day’s sales will go to charity.

One salesperson at the Lord & Taylor flagship, who didn’t seem particularly excited at the prospect of working Thanksgiving Day, noted those who do will have some flexibility in their schedules for Black Friday if they were supposed to work then. Lord & Taylor will be open from 10 a.m. to 7 p.m. on Thanksgiving.

“We have new management,” said another selling associate at the store, giving one explanation for why he thought the Thanksgiving Day policy changed.

Just the flagship will be open on Thanksgiving. Suburban stores will be closed.

Source: WWD

Cam Newton To "Join" Belk

Belk Inc. has drafted quarterback Cam Newton of the Carolina Panthers for a men’s line to bolster the store’s “modern Southern style” campaign.

Beginning this coming spring, Belk will sell an exclusive men’s collection of suits, sport coats and sportswear called Made Cam Newton. It will bear the quarterback’s signature and offer “fashion-forward, versatile, professional apparel options for men,” according to Belk. Made Cam Newton will be carried in 133 stores and on belk.com, and by fall 2013, the collection will add accessories and shoes.

“It really is a collection with a young vibe in terms of mixing and matching,” Kathryn Bufano, Belk’s president and chief merchandising officer, said, noting that the collection can be dressed up or worn for a more casual look, and that items are set at better, entry-level prices including $28 T-shirts, $120 blazers, khakis for $60, and suits around $200. That’s about 30 to 35 percent lower than Polo, she noted.

Made Cam Newton will be housed between Black Brown 1826 men’s wear designed by Joseph Abboud that Belk sells exclusively in its regions, and contemporary denim. “We are dedicating nice square footage, 500 to 1,200 square feet” for Made Cam Newton, Bufano said. The suits will also sell in the suits department for double exposure. The collection is designed by Belk’s in-house team in collaboration with Newton.

“He’s not a designer but he has a very strong sense of style,” Bufano said. “He wants to set an example for young people that looking sharp gives you more confidence.”

“He’s one of today’s emerging style icons,” added John Thomas, Belk’s executive vice president of private brands.

A Women's Accessories Designer shoots 10 near Empire State Bldg.

Jeffrey Johnson, age 53, a women's accessories designer for a company named Hazan, has been identified as the lone gunman who shot at least 10 people outside the Empire State Building in New York on Friday morning around 9 a.m. Two people are confirmed dead. The gunman was reportedly firing indiscriminately at people, and was reportedly shot dead by a New York Police Department officer, although it is still under investigation. Commercial access around the Empire State Building has been blocked off. Macy's, which is a block away, remains open for business. "Fifth Avenue was shut down to vehicular traffic. Foot traffic is still normal. Our store is open," said a Macy's spokeswoman.


The Empire State Building was roped off, surrounded by police cars, helicopters overhead, and a press conference was about to begin on 5th Avenue and 35th St.

Shoe Companies Leaving China...Fast!!

With cost pressures mounting in Asia — and a renewed sense of patriotism that focuses on job-creation — a number of American footwear firms are moving production back to the U.S. "Manufacturing overseas is becoming less attractive: Transportation, material and labor costs are skyrocketing, and you've also got ocean carriers implementing slow steaming to save fuel, so it's taking even longer to get product," said Nate Herman, VP of international trade for the American Apparel & Footwear Association. "That doesn't work for the type of retail environment we're in, where companies need to react to trends and changes in the market more quickly than ever." Following decades of sharp declines, the amount of shoes being made in the U.S. has inched up each year since 2009, Herman said. This year, 30 million of the 2 billion pairs of shoes sold in the U.S. will be produced domestically. Herman predicted the upward trend will only continue as the cost advantages of producing overseas begin to disappear and more footwear firms look to capitalize on the many benefits of making shoes at home, including significantly shorter lead times and greater control and flexibility. "The situation in China is very uncertain. 


Prices continue to creep up, and it's increasingly challenging to manage logistics and quality control, especially as a smaller company," said Arkady Altskan, GM of Baltimore-based comfort brand Pilgrim Shoes, which opened U.S. production last year. "We want to stay ahead of the changes. So far, having our own factory here has been a huge advantage." Still, manufacturing domestically is a difficult process to navigate. Perhaps the biggest challenge is the lack of infrastructure. "Back in the heyday of American shoemaking, you had everything you needed here, from machinery and processes to a robust supply chain, but those things don't exist anymore. If you're going to start manufacturing here, you're basically going it alone. You're reinventing those processes," said Colin Hall, chief marketing officer of Port Washington, Wis.-based Allen Edmonds, which has been manufacturing exclusively in the States since 1922.

John Wilson, VP of manufacturing for New Balance, another veteran of the U.S. with five factories in the New England area, said he is optimistic that as more footwear firms move production back onshore, the domestic supplier base will begin to revitalize. "It hopefully will drive the need for raw materials suppliers to relocate, improving the supply chain and infrastructure here," he said. "We've seen that in the shoe industry's migration to different parts of Asia over the years — the raw materials companies moved their plants closer to the manufacturing sites."

source: WWD

JC PENNEY PUTS EVERYTHING ON SALE

Nike Did Not Learn from the 80's; LeBron Sneakers to Test $300 Limit

Really Nike, $300 for sneakers? I remember the news headlines for the late 80's and early 90's "Kid shot over sneakers" and the announcement of Nike introducing a pair of $300 sneakers took me back to a time when inner city kids lived in fear of getting robbed. Some say, well times have changed and people don't do that anymore. REALLY? Take a look at this ARTICLE. 
Listen, I understand that Nike needs to make a buck all I'm saying is does it need to be at the expense of their target market.

Nike unveiled the LeBron X, shown, at the 2012 Olympic gold-medal basketball game between the U.S. and Spain. Analysts expect that this 10th LeBron shoe will retail for around $315.

 

 

Will Best Buy become the next "Circuit City"

Profit at struggling electronics retailer Best Buy Co. tumbled in its latest quarter as consumers shifted to lower-margin products such as phones and tablets, sending shares of the nation's largest specialty consumer-electronics retailer plunging.
The Richfield, Minn.-based retailer also said it has reduced its earnings outlook for the year on lower industry sales expectations, uncertainty surrounding new product launches and its naming on Monday of a new chief executive. The company declined to issue a new profit forecast. In May, it had forecast an annual profit of between $3.50 and $3.80 a share.
On Monday, it named Hubert Joly, chief executive of Carlson Cos., a hospitality and travel company as new CEO effective Sept. 1.

Head Geek; Hubert Joly

The worse-than-expected results sent Best Buy shares to nine-year lows on Tuesday. Combined with a similar selloff Monday, the company is on track to lose a fifth of its market value in just two days. Its stock was recently trading down 5.5%, or $1.01, at $17.15 on the New York Stock Exchange. It suspended a share-buyback program that acquired 6.3 million shares in the first quarter at an average price of $19.28 a share.
The big-box retailer said same-store sales—which reflect revenue at stores, call centers and websites operating for at least 14 months—fell 3.2% in the latest period. It is the eighth time in the last nine quarters Best Buy's comparable-store sales have dropped.
In the U.S., same-store sales fell 1.6%. Its biggest category, computing and mobile phones, continued steady same-store sales growth domestically, a bright spot considering other retailers' reports that shoppers are biding time on personal-computer purchases ahead of new Windows operating system in fall. However, the company noted that strength was based in tablet and mobile phone sales.
Its key consumer electronics sales kept dwindling, this time with a 9.6% domestic drop.
Best Buy was the latest retailer to report a downturn internationally, with an 8.2% drop in international same-store sales linked largely to slowing consumer spending in China.

Libby Edelman returns to Brown Shoe Co

Libby Edelman is back at Brown Shoe Co. after a nine-month sabbatical, but her eponymous footwear line will not be making a return.

Instead, Edelman said she would serve as a "jack of all trades," working alongside husband and business partner Sam Edelman on his namesake brand, as well as the new juniors' line, Circus, and yet-to-be-announced upcoming projects. Her role will have a special focus on licensing, Edelman said.

"Sam has a lot on his plate, so I am coming back to help him," added the designer, who spent her time off traveling to Peru and Mexico. During the break, she first volunteered with Soles4Souls, then focused on photography, including attending a workshop with acclaimed photographer Mary Ellen Mark. "I got to step away and be creative and just sort of clear my head, clean the palate, and now I'm coming back."

As for the nixing of her own line, Edelman was upbeat. "I'll be able to be a little bit more objective because I won't be entrenched in one thing," she said.


The designer, who announced her departure in early November, was unofficially back on the job this week, but won't formally rejoin the Sam Edelman team until September. "Next week I plan on shopping the city while everyone is in Las Vegas [for FN Platform]," she added. "I'm very excited to be back."

The designer also is creating a photography book compiled from the many images she captured while on sabbatical. "[The hiatus] gave me a chance to start the book project, and I'll finish in my free time," Edelman said. "It will take about a year to complete because now I've got a lot on my plate."

Ann Inc. Profits Rise 24%, really?

Ann Inc., driven by strong performance at both its Loft and Ann Taylor divisions, reported a 34 percent increase in earnings per diluted share to 63 cents from 47 cents in the year-ago quarter. Net income rose 24 percent to $30.7 million, versus $24.8 million a year ago.

Total sales last quarter were $594.9 million, compared with $558.2 million in the second quarter of fiscal 2011.
 
Comparable-store sales increased 4.7 percent. At Ann Taylor, comparable sales increased 5.6 percent, reflecting increases of 3.2 percent at Ann Taylor stores, 29 percent in e-commerce and 2.1 percent at the outlets. Loft’s comparable sales were up 4.2 percent, reflecting increases of 4.1 percent at the stores, 14.6 percent in e-commerce and 0.3 percent at the outlets.
“At the Ann Taylor brand, performance accelerated significantly from the first quarter, reflecting stronger sales and profitability, including positive comps in the Ann Taylor stores channel and continued profitable growth in the e-commerce and factory outlet channels,” said Kay Krill, president and chief executive officer. “Loft also delivered excellent sales and profitability results, including strong margin and continued solid comp growth on top of last year’s double-digit increase.”

By brand, Ann Taylor totaled $233.3 million in sales, compared to $217.9 million in the second quarter of 2011. Loft posted $361.6 million in the second quarter of 2012, compared with net sales of $340.3 million in the year-ago quarter.

The company projected $2.39 billion in sales for fiscal 2012, reflecting a comparable sales increase in the mid-single digits. The gross margin rate is expected to be about 55 percent, and the company expects to have about 985 stores at fiscal year-end.
Source: WWD

Nicki Minaj Now Owned by Arden

It's not what you think, with its purchase Tuesday of the fragrance licenses of Justin Bieber and Nicki Minaj from Give Back Brands LLC, Elizabeth Arden Inc. is giving Coty Inc. a run for its money.

The news follows Arden’s May 31 announcement that it had acquired the global fragrance licenses of Ed Hardy, True Religion and BCBG Max Azria from New Wave Fragrances LLC.

Nicki Minaj’s (real name Onika Tanya Maraj) first fragrance is set for a September launch. These moves will meet head on with Coty as it prepares to launch its first Lady Gaga fragrance in the fall, following the debut of Madonna’s blockbuster Truth or Dare scent in late March. Terms of the acquisition were not disclosed
 
Justin Bieber’s first fragrance, Someday, was launched in spring 2011 and became the number-one women’s fragrance launch in U.S. department stores, with annual sales of $39 million according to NPD Group figures cited by Give Back Brands. A second fragrance, Girlfriend, will be launched in Macy’s on Monday and in other national retailers on June 25, Kathy Widmer, executive vice president and chief marketing officer of Elizabeth Arden..


In a memo to employees dated Tuesday, E. Scott Beattie, chairman and chief executive officer of Elizabeth Arden, said: “We are pleased to announce that today we signed an agreement to acquire the licenses for the Justin Bieber and Nicki Minaj fragrance brands from Give Back Brands.…The marketing and creative activities for these fragrance brands will continue to be managed externally by their existing team. Sales, finance and operational activities will be absorbed by the respective Elizabeth Arden functions. These brands represent another opportunity to grow our extensive fragrance portfolio through both new licenses and fragrance acquisitions.”

“We’ve been keen observers of Justin Bieber’s fragrance and his participation in it,” said Widmer. “When you look at the combination of Justin Bieber and Taylor Swift’s Wonderstruck, together they accounted for half of the U.S. growth in fragrance last season. Our growth agenda allowed for a certain amount of acquisitions and when this became available we recognized it was a great opportunity. It made sense to us given the size and breadth of our celebrity portfolio.” Arden is building a celebrity portfolio which rivals Coty’s: in addition to Bieber and Minaj, Arden now holds the fragrance licenses of Elizabeth Taylor, Britney Spears, Mariah Carey and Usher, as well as Swift.

One major department store retailer (translation Macy's), speaking not for attribution, confirmed that Arden is already a major player in the celebrity fragrance field and this move will only bolster its market competitiveness. “They are doing a good job,” the retailer said, “and this will just make them stronger.” In addition, Arden’s well-developed infrastructure and highly organized back-office operation seems certain to make the acquired business run more efficiently.

GIRBAUD’S Files Chap 11

Marithé + François Girbaud has filed for the French equivalent of Chapter 11 bankruptcy protection, a spokeswoman for the French denim brand said.

Representatives of the label, which last year mandated Banque Privée Edmond de Rothschild to open its capital to outside investors, attended a hearing at a commercial court on Thursday aimed at extending the observation period allowing potential buyers to step in. The spokeswoman declined to give further details, but said the company planned to issue a statement in the next few days.

Marithé + François Girbaud has been losing steam since the global economic downturn, posting consolidated sales of 100 million euros, or $132.7 million at average exchange, in 2010. The brand had its heyday in the Eighties, when it became known as a pioneer in denim washes, in particular stone washing. 

Michael Kors At The "Y"

Michael Kors knows all too well how there isn't a rule in fashion as to how you've got to chart your course. And he wasn't afraid to spell out his own experiences to hammer home that point during a Q&A with Fern Mallis Wednesday night at 92Y.
The designer cringed describing how he presented a Christopher Street Women collection during an interview with Donna Karan in her Anne Klein days. As a boy, he appeared in Lucky Charms commercials, among others, and truth be told he and his mother, who also modeled, would come into Manhattan from Long Island for go-sees. "This is hard to believe now but she would put me in a cab with a slip of paper with the address of where I was going. Today if she did that, she'd be on the front page of the Post — Child Abuser," Kors said.

At the age of 11, he opened the Iron Butterfly Boutique in the basement of his house, selling his own homemade candles, hammered copper bracelets and other one-offs. No subject seemed taboo — Kors mentioned how he told his mother at the age of five that her wedding dress was "too busy" and he described hiding his bare-chested, sunburned self in the ocean for a good hour after spotting Ricky and Ralph Lauren looking taut and tan in Round Hill in Jamaica not that long ago.

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Eddie Bauer names New CEO

Eddie Bauer on Tuesday named Michael R. Egeck president and chief executive officer.

Egeck, 53, was most recently chief executive at Hurley International, a division of Nike Inc.

M. Boland to join America Eagle Outfitters

Wow! I know some people in the industry that have tried to recruit her for many of their CFO openings.
Robert Hanson has imported talent from San Francisco to fill American Eagle Outfitters Inc.’s top financial spot. Mary Boland will join AEO July 9 as executive vice president and chief financial and administrative officer. Boland, who has been senior vice president of finance for the global Levi’s brand at San Francisco-based Levi Strauss & Co., will succeed Joan Hilson, whose departure as cfo was revealed two weeks ago.


Hanson joined AEO as ceo on Jan. 30 following more than two decades with Levi’s, most recently as global president of the Levi’s brand. Boland will be responsible for finance, investor relations, merchandise planning and allocation, strategy planning and other administrative functions. She will report to Hanson. Prior to joining Levi’s in 2006, Boland was with General Motors Corp., where she rose to cfo of North America during a more than 20-year tenure. “Mary brings 30 years of broad-based financial and operating experience, with a proven track record in the global apparel industry,” Hanson said. “Mary is an influential, disciplined financial leader, with a strong ROI focus. I’m confident she will have a positive impact at AEO as we look to strengthen our financial results and achieve consistent, long-term profitable growth.” AEO disclosed Hilson’s departure at the same time it said it had decided to shutter its struggling 77kids children’s retail concept.

Did I Miss Something

Did I miss something here? Men for years have been grooming themselves and taking care of their skim. It happened when we discovered girls. duh

Amanda Brooks Exits Barneys

I knew she wasn't going to stay!!
It was a little more than a year ago that the New York City socialite Amanda Brooks was appointed fashion director of Barneys New York, to some cluck-clucking in the industry. After all, Ms. Brooks, 38, had little experience in retail, other than acting as a muse and later creative director to the fashion label Tuleh, and was more often photographed in preppy classics than the avant-garde brands for which Barneys had been known under the stewardship of her well-regarded predecessor, Julie Gilhart. As the blog Fashionista put it, “We’ve always thought of Brooks as more of a Bergdorf girl.”

Ms. Brooks’s duties included overseeing private labels and creating trend reports, informed in part by the street style of “it” girls, many of whom were part of her impressive network. “We didn’t need more retail help,” Mark Lee, the store’s chief executive, said of the hire at the time. Indeed, a lot of her job seemed to involve attending fashion shows, where she was a front-row regular, and going to openings and galas.

But in March, Ms. Brooks pulled off yet another surprise. She announced that she was not just quitting the Barneys position, but leaving Manhattan itself and planning a yearlong move with her family to a farm in Oxfordshire, England, that is owned by the family of her husband, the artist Christopher Brooks.

Was the Barneys brass disappointed in the high-profile hire? (Through a spokeswoman, executives there turned down requests to be interviewed on the matter.) Had Ms. Brooks — such a clotheshorse that she wrote a 2009 book on personal style — somehow soured on fashion shows? Or, as some in the news media speculated, was the move in support of her brother- and sister-in-law, Charlie and Rebekah Brooks, charged with perverting the course of justice (the term in British law) in the News of the World phone-hacking case? 

None of the above, Ms. Brooks said recently, dining on a sunny Friday at Freemans, downstairs from the apartment she’ll soon be renting out. (A North Fork residence will also be leased, to the artist Rachel Feinstein, a friend.)

“It was because of Ree Drummond’s blog, The Pioneer Woman,” said Ms. Brooks, who has recently returned to a blog, ILoveYourStyle.com, that she started after publishing the 2009 book, which had the same name. Reading a New Yorker profile last year of Ms. Drummond, a mother of four who lives on a cattle ranch outside Pawhuska, Okla., and posts prolifically on subjects like how to make cornmeal pancakes (using catchphrases like “yahoo, yippety”) “got me really fired up,” Ms. Brooks went on. “It’s the idea of having a career on your own terms, anywhere.”

At first glance, Ms. Brooks, a consummate urbanite with coolly styled looks, could not be more diametrically opposed to Ms. Drummond. At lunch, several days after the Metropolitan Museum of Art’s annual Costume Institute benefit (to which she wore a minimalist graphite Calvin Klein ensemble), Ms. Brooks was dressed casually in an open-knit beige sweater, black trousers and black flat sandals. Her blondish brown hair fell in an enviable natural wave, and her figure was willowy.

“I lost a lot of weight working at Barneys,” said Ms. Brooks, nibbling delicately at the turkey sandwich with bacon she’d ordered along with an iced tea, then hastening to add, “It was the 14-hour days and then all the traveling.” 

Courtesy: NYT

"Sean John" Causes Some Stir in LA

The 18-year-old son of hip-hop mogul Sean "Diddy" Combs has been awarded a full athletic scholarship to play football at UCLA beginning this fall, university spokesman Ricardo Vazquez confirmed. As news of the scholarship spread, some questioned if the cash-strapped school's money should be used to fund the education of the son of a man worth $475 million.

"Should P. Diddy's son return $54,000 college scholarship?" a CNN segment asked.
Vazquez said UCLA has a "robust financial aid program," and said the money used for merit-based athletic scholarships was "entirely funded by Athletic Department ticket sales, corporate partnerships, media contracts and private donations" and "do not rely on state funds."
The money used for Combs' scholarship wouldn't affect need-based scholarships awarded to other students, he said.
"There is a big separation between financial aid based on need and how that’s funded and how athletic scholarships are funded and awarded to students," Vazquez said.
Combs' scholarship is one of about 285 the university awards to student athletes each year, Vazquez said, and will be used to pay tuition and fees along with room and board.
"Unlike need-based scholarships, athletic scholarships are awarded to students strictly on the basis of their athletic and academic ability, and not on a student's financial need," Vazquez said in a statement.
A recent alumnus of New Rochelle Iona Prep in New York — who reportedly graduated with a 3.75 GPA — the 5-foot-9, 170-pound defensive back was also offered scholarships by Illinois, Virginia and Wyoming. Combs announced in November he would attend UCLA.
“Playing Division I football was a lifelong dream of mine, and through hard work I was able to achieve it,” Combs said in a statement announcing his decision.

"As a parent, this is one of the proudest moments of my life," Sean Combs said in a statement. "This is everything a father could want in his son, for him to excel at what he loves to do."
Many Bruin fans rallied around the incoming freshman on football message boards this week.
"Clearly Justin earned his scholarship.... He doesn’t need to give it to anyone," read a message on Bruins Nation. "The best way he can 'give back' is by being and exemplary Bruin ... and his track record indicates he will be."

Neiman Marcus Personal Shopper Doing More Than "Shopping"

 Sex, money, shopping and betrayal spurred a woman scorned to file suit against Neiman Marcus after the luxury retailer, known for its generous return policy, refused to take back $1.4 million worth of merchandise.
During the three years Patricia Walker spent bedridden recovering from a traffic accident, her then-husband Robert Tennison's spending spiked at the retailer's Dallas location. He showered her with an outsized pile of gifts. But all the while, according to the suit, he was allegedly carrying on a secret affair with Favi Lo, his wife's trusted Neiman Marcus personal shopper.
Lo earned a steep commission from the sales, which were made using Walker's account, her attorney, Mark Ticer, said.
He noted a correlation between the spike in sales from 2007 to 2010 and the affair.
"Ms. Walker had no idea it was going on at all. She was in the perfect spot to be vulnerable after the horrible accident," he said.
In 2010, Walker wanted to return the haul of luxury goods to the store, which is known for its generous return policy.

 Neiman Marcus sent employees to look at the merchandise Walker had requested to return, but the store never followed through or offered an explanation for not taking the items back, Ticer said.
Neiman Marcus declined ABCNews.com's request and that of ABC affiliate WFAA for comment and cited the ongoing litigation.
The bonanza of luxury goods, from $285 pajamas to crystal sculptures and enough jewelry to fill a store's display case, now sits unused in storage. Much of it isn't even Walker's taste, Ticer said.
Walker spent $100,000 per year before her accident at the retailer. Her husband's spending on her account outpaced her spending by hundreds of thousands of dollars, Ticer said.
Still unaware of her husband's affair with Favi Lo, Walker closed her account in 2010. She learned of her husband's relationship with Lo a few months later while engaged in divorce proceedings, Ticer said.
For Walker, the lawsuit is about more than just getting her money back.
"The real villain in this case is Neiman Marcus," Ticer said. "After learning of this affair decided they weren't going to do anything about it."
Ticer said Lo was not disciplined and continues to work at the retailer's NorthPark Mall location. An attempt to reach her for comment was unsuccessful.

JCP Hires Former May Co. Guy

JCP continues to recruit the top talent in the industry. Years ago no one wanted to work for the Texas based retailer, but my how times have changed.

The Plano, Tex.-based retailer has named John Tighe senior vice president and general merchandise manager of men’s wear. He formerly headed the home division for the retailer and reports to Elizabeth Sweney, chief merchant. Tighe succeeds Steve Lawrence, who left the company in March.

John Tighe

Tighe will be charged with upping the fashion quotient in men’s for the store, which is in the midst of a transformation under new chief executive officer and former Apple Inc. executive Ron Johnson.

“I recruited John from May Co. 10 years ago,” Sweney told WWD Wednesday. He had previously worked for Filene’s and Meier & Frank and had varied experience ranging from young men’s and men’s furnishings to juniors.

Sweney said she interviewed dozens of people for the job but decided on Tighe for three reasons. “He’s a proven merchant at J.C. Penney and has experience in several areas in women’s apparel and home,” she said. “He’s also a change agent. He completely reimagined the home store. He knows what needs to be fixed and then he changes it.”

She also singled out his “great market relationships” with high-profile executives such as Martha Stewart and Jonathan Adler, and said he was instrumental in attracting them to Penney’s. “And he has men’s background from May Co.”

At the same time, she said Penney’s has hired Preston Moxcey, an 11-year veteran of Nordstrom, to join the men’s team as merchandise manager of furnishings and accessories. “He’s a very aggressive merchant and has a great taste level,” she said. “He understands both national and private brands.”

Both Tighe and Moxcey will be working closely with Nick Wooster, the former fashion director of Neiman Marcus and Bergdorf Goodman, who joined Penney’s in March in the newly created role of vice president of design and trend for men’s.

“We have a big men’s business,” Sweney said. “It’s the number-two business in the store, but we need to inject some style into it. With John as the change agent and Preston and Nick imparting private brand and trend information, we have a great team in men’s to move the business forward.”

She said the goal is to add more contemporary style to the mix in categories ranging from young men’s to mature men’s while continuing to improve the quality in the men’s offering.

Succeeding Tighe as senior vice president and gmm of home is Paul Rutenis, who had served as divisional merchandise manager of furniture and decorative accessories for Penney’s.

London Getting Ready to Kick Off 2013 Season

London has long been a world capital of men’s wear: It’s the city that spawned the dandy, the home of Savile Row and Jermyn Street, and the birthplace of “lo stile Inglese,” or what the Italians lovingly refer to as “English style” — lots of color, texture and check fabrics.

In typically understated style, however, London has never shouted about itself or held a high-profile men’s wear showcase similar to those in Milan or Paris. But times are changing: The single day of men’s shows tacked on at the end of each London Fashion Week in September and February has from this season evolved into a three-day, international men’s wear showcase.

Prince Charles — a well-known fan of double-breasted suits with peaked lapels — will kick off the festivities with a cocktail party at St. James’s Palace on June 14. Paul Smith, Burberry, Tom Ford, Calvin Klein Collection, Louis Vuitton and Spencer Hart are among the labels that will host events. Richard Nicoll will use the showcase to launch his men’s wear line, Hardy Amies will unveil a collection of wardrobe staples called Hardy Amies London and Savile Row’s tailors plan to host a cocktail reception at the Burlington Arcade and will invite guests into their showrooms and workshops.


While there is a definite frisson of excitement in the air, designers are approaching the shows, which have been organized by the British Fashion Council and the Fashion 2012 Men’s Wear Committee chaired by British GQ editor Dylan Jones, with a degree of caution.

“It’s a big unknown for us,” said Sean Dixon, the cofounder and managing director of Savile Row tailor Richard James, which will stage its first runway show on June 17. “The show will help consolidate our existing business and hopefully bring in new business. It’s something we have to do and, at the very least, we’ll be getting nice visuals, a great video and a nice buzz.”

James said among his inspirations for spring 2013 are “urban fete, with lots of color.”



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Qatar Mall Fire Kills 19

Qatar's biggest shopping mall remained closed on Tuesday as authorities investigated a fire that ripped through its daycare center and other areas, killing 19 people, including 13 children, according to local media reports.

The Villaggio Mall, which opened in 2006, features attractions such as the Venetian-inspired Gondolania theme park in addition to brands ranging from luxury labels like Gucci, Prada and Louis Vuitton to high street chains like Zara, Gap and Marks & Spencer.

A spokesman for The Body Shop said the L’Oréal-owned brand’s store in the mall had been affected by the fire. “I do not know to what extent at present,” he said. “But our staff are all safe. Our thoughts are of course with those less fortunate.”

A spokeswoman for Swedish fast-fashion retailer H&M said all its employees were unharmed.

“This is a tragic accident and our thoughts go out to the families affected,” she said. “According to the latest information we have received from our franchise partner, the store has not sustained any material damage. The mall will stay closed until further notice.”

NEVER FORGET!

You guys know I'm not in favor of any war but, I am political and regardless of our politics we cannot forget those that have died in combat. In war people die and Memorial Day is not about sales, tanning on the beach, hot dogs or drinking at the shore. It is about the sacrifice of the men and woman that have serve. Let us not forget!

Talbots’s Really Nasty Breakup

After months of fighting off a buyout offer from Sycamore Partners, the women’s clothing retailer succumbed earlier this month, reaching a tentative agreement with Sycamore, a buyout firm with a roughly 10% stake in Talbots. Under the terms of the nonbinding deal, which was supposed to expire May 15 but was extended until May 24, Sycamore would pay $3.05 a share for Talbots. May 24 came and went, and let’s just say they’re just not into each other anymore.

In a statement, Talbots said it had “worked exclusively in good faith with Sycamore Partners to execute a transaction.” Sycamore told Talbots it wasn’t prepared to do a deal now, although Talbots is still open to pursuing an “acceptable merger agreement.” Ugh, breakups.

Now that it’s free of the exclusivity contract, Talbots will play the field, looking for a new partner, creating shareholder value and trying to run its troubled business. Talbots TLB -41.02%  shareholders are sorely in need of some value. The shares are down more than 34% at $1.68. 

Meanwhile, Talbots also released its fiscal first-quarter results. Net income rose, but sales and same-store sales declined, and the company provided details on its store “rationalization” plan, cost cuts and said it’s still looking for a new president and chief executive. 

Talbots has been struggling for a while. It’s tried changing its merchandise and marketing, complete with celebrity models. It has tried to attract a younger, more fashionable shopper. It tried to cater to its “legacy” customer. It closed stores. It shuffled top executives. Talbots may be running out of tricks.

While most of us won’t know why Talbots and Sycamore didn’t consummate their deal, the upshot is Talbots ends up looking like damaged goods. 

  

Source: Marketwatch

Armani Cover Girl Rihanna Has Scales

Rihanna doesn't want anyone to forget that she's practically naked in her new music video, so she's posted some behind-the-scenes photos from the "Where Have You Been" makeup room. Hello, scaly breasts!
Earlier this month, Rihanna's "Where Have You Been" music video broke a record for the most YouTube views within a 24-hour period (a record subsequently shattered by Justin Bieber and his snoozy "Boyfriend" clip), thanks in part to the singer's barely-there ensembles and quick-footed choreography.


On Saturday, Rihanna revived interest in the new video by posting behind-the-scenes pictures of her transformation into a hypersexual reptilian jungle creature. In the shots, one can see Rihanna chowing down as a makeup artist applies green scales to her bosom, ribs and spine. It looks like the process took several hours—no wonder she wanted to get extra mileage out of the photos
       


FULL STORY

Piguet CEO Out

The CEO carousel keeps going.
Audemars Piguet said Thursday morning that “due to differences in company strategy,” chief executive officer Philippe Merk is leaving the company.

The high-end Swiss watchmaker appointed Merk ceo in 2009. Until his replacement is found, AP's board of directors has nominated François-Henry Bennahmias as GM.

Bennahmias, 48, began his career at Audemars Piguet in 1996 and from 1997 he was assistant marketing and sales manager for Asia-Pacific and Europe.

In 1999, he was promoted to president and ceo of Audemars Piguet’s North America business.

International Contemporary Furniture Fair 2012

Jieldé's articulated Standard lamp, introduced in 1950, now comes in matte finishes. Matte finishes are all the rage at present moment; ICFF has more than a few matte brass fixtures, matte porcelain on sinks and tubs, and matte steel furniture details.

All the editors loved the Tools for Everyday Life booth, featuring products by designers-in-residence at Northumbria University in the UK (in fact, they snagged the best-in-show Accessories prize). The One Ton Bag shown here is Danny Duquemin-Sheil's thesis project; each one is made from recycled delivery sacks used to haul construction materials, i.e., extremely durable.

Blu Dot gets into the rug game with several editions that cost less than $600.

Knoll debuted a new marble-topped outdoor table by Daniel Stromborg at this year's ICFF (paired with chairs Don Chadwick chairs the young designer worked on when he was part of Chadwick's studio!). 

 

 

 

 

 

From Fashion To the Classroom

Forgoing a high-powered career to become a schoolteacher might seem unthinkable to most. But not to these men.

Lance Leener, 52

Then VP at Gloria Vanderbilt Now Eighth-grade English and social studies teacher, Tompkins Square Middle School, New York City | When Leener was feeling discontented with the corporate world and contemplating a change, his wife reminded him how much he liked working with children. Her support, emotional and financial, helped him power through a career shift. 'Being a teacher is the hardest job on the planet. I work my ass off, I can?t even tell you. I have an open-door policy with email with my students, and I interface a lot with parents, so it feels 24/7. I love it and couldn?t think of doing anything differently, but it is so hard.'

Jamie Hooper, 43

Then Publisher of 'Maxim' and founder of 'Giant' magazine Now Fourth-grade teacher at the IDEAL School, New York City | Enjoying his job but tired of being away from his family with the constant traveling it required, Hooper switched gears. Working as a special education teacher allowed him to tap into his desire to address the different ways in which children learn. 'In business you're developing relationships based on money and solving marketing and advertising problems. Which is interesting. But now it's really more issues of personal growth and development.'

 

 

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Trend Report: Shoes

It’s been 30-plus years since sneakers as a fashion statement got their improbable start when the New York City transit strike of 1980 had legions of career women hoofing it to work with broad-shouldered suits on their backs and high-tops on their feet. Little did they know then, those women were creating a look that would last — even if it was a dubious look at best — and one that has reemerged ever stronger in the designer market, where high-tops are kicking ballerina flats off their casual-chic perch.

“The high-top trend has been bubbling up for some time, and, as trends go, it usually takes a few seasons for them to take hold,” says Holli Rogers, fashion director of Net-a-porter.com. “I think it’s most prevalent now, since this year we have seen a resurgence of trends from the late Eighties/early Nineties and the high-top sneaker is certainly associated with that excitement.”

Holli Rogers - Net-A-Porter

All the major accessories houses have gotten in on the look, as Rogers named Christian Louboutin, Giuseppe Zanotti, Lanvin, Yves Saint Laurent, Miu Miu, Mulberry and the original Chuck Taylor high-top by Converse as top sellers. The more distinctive, playful and counterintuitive, as in the case of Isabel Marant’s Bekket sneaker with a hidden wedge (another Net-a-porter bestseller), the better. “I’ve always found wedge sneakers very unattractive,” says Marant, who drew on her own teenager years — when she would put a cork sole inside her trainers to appear taller — for inspiration. “To me, it’s all about the style and attitude, so when I created mine, the challenge was to keep a real balance between a nice aesthetic and the comfort of a flat sneaker.” Added bonus? “They also make women look taller!” she says.

High-tops, as opposed to low-tops, can also alter the look of the shoe’s proportion, creating a stronger silhouette. “It’s more flattering because of the volume,” says Pierre Hardy, whose multicolored Dapperama high-top with a fringed tongue is being distributed in limited edition in June. “It also maybe comes from the Eighties and is a youthful reminder of the beginning of hip-hop — this funny, crazy girl with nice energy.”



SEE FULL SLIDESHOW HERE

Gucci VS. Guess?

A federal judge in Manhattan on Monday awarded Gucci $4.7 million in combined damages from Guess and its footwear licensee Marc Fisher Footwear — a fraction of the more than $221 million Gucci wanted.

Gucci argued at trial that the Guess designs in question were “studied imitations of Gucci trademarks” and that the company had “knocked off” more than $200 million in its product.


Guess’ chief executive officer Paul Marciano, who testified at the trial, issued a statement late Monday noting the case should have been resolved by the two companies and not the court.

“Gucci’s request in court was unconscionable by its scope and the amount of damages they claimed,” Marciano said. “They ‘forgot’ to claim certain trademark rights that Guess used for 23 years, such as the script logo and the court sided with Guess.”

The ceo hinted that the legal battle might not be over. “I believe Gucci is currently court-forum shopping to find a friendly court but Guess will vigorously defend our rights in every jurisdiction,” he said, without elaborating.

Macy's Canada, Aye?

On the international front, overseas developers are all over Macy’s, eager to get the company to open Macy’s and Bloomingdale’s outside the U.S. So far, Macy’s Inc. has only one international store, Bloomingdale’s in Dubai, though Macy’s does distribute a small volume of merchandise to about 100 primarily English-speaking countries.

Asked if Sears unloading units in Canada could present an opportunity, Lundgren replied, “It could.” But he added, “You’ve got to look at a big picture strategy” before considering stores here and there. Nordstrom is also eyeing Canada, and may be considering some Sears locations there.


On May 22, Macy’s officially launches its Brazil promotion, though there is Brazilian merchandise already selling in the stores. Asked if import promotions are on the agenda for the future, Lundgren said, “We want to see the results for Brazil.…We’re not going to commit to one every year.”
See you in Canada Hey!

London: Marks & Spence Getting "Pretty"; Beauty To Launch

Marks & Spencer, the British public’s go-to retailer for merchandise ranging from food to fashion to everyday items for the family, will unveil its first major, multibrand beauty offer this week in-store and online.

The new retail concept, Your Beauty: The Best of Nature & Science, will make its debut on Tuesday at the M&S store on London’s Kensington High Street and on the retailer’s Web site.

At launch, the company plans to have nearly 1,000 stockkeeping units ranging in price from 2.50 pounds, or $3.98, for a bottle of Limited Collection nail polish, to 70 pounds, or $111.30, for a premium skin care product such as Filorga, which offers antiaging fillers, meso-therapy and face peels. The Lyn Harris fragrances cost 25 pounds, or $40.

“We are a very democratic store selling everything from knickers to cashmere dressing gowns,” Russell said, adding that the same philosophy would apply to the beauty offer.

M&S plans to carve out spaces ranging from 750 square feet to 3,000 square feet across its 300 department stores in the U.K.


Good Luck Guys!!

Sources: WWD

Will Facebook Be Good For Fashion

That’s the $104 billion question as the social-networking site’s initial public offering takes off today, priced at $38 a share and potentially raising $16.4 billion — the third largest in financial history. While pundits have spent the last few months poring over the most minute aspects of the Internet phenomenon — including how rich its backers and founders will be after today — the biggest issue is whether Facebook will have the long-term transformative and dominating impact of Google or Amazon — or be more like Yahoo or eBay.

The fashion world, like almost every other industry, is still trying to figure that out. There’s talk surrounding where Facebook will focus its energies with its increased cash flow, ranging from further developments in its open-graph technology to further engagement, to mobile innovations to fuel brand partners’ brick-and-mortar shopping experience, to improving client account management services for companies. Observers also believe Facebook will become more aggressive in pushing its advertising model, stirring even greater competition with traditional media companies.

At the moment, most brands have simply focused on the race to accumulate the most “likes” on their fan pages and to encourage engagement — even those like Burberry and Sephora that advertise heavily on the site. How quickly Facebook can convince brands it can be more important to them than that will be key to its ongoing growth — especially since it’s now widely accepted that early attempts to encourage e-commerce via Facebook have been a flop.

Maureen Mullen, director of research and advisory at NYU think tank Luxury Lab, or L2, said that the “dirty little secret” industry-wide is that companies have been spending money on advertising on the platform for a while, with Burberry leading that charge. The brand has been an aggressive advertiser on Facebook in the fashion world in the past 24 months, as have Chanel and Gucci. While this has greatly contributed to creating an aspirational aura around the value of Facebook, she thinks it is too early to know exactly how the IPO is going to play out with respect to the fashion and luxury sectors.

Click Here For The Secrets to Facebook Dating...Who Knew!

See Full Story: WWD

Kirstie Clements is out at Vogue...WOW!!!!

Kirstie Clements is out at Vogue Australia after 13 years as editor. Clements was dismissed and escorted from the headquarters of News Limited’s lifestyle division in Sydney earlier in the day, along with two other senior NewsLifeMedia editors: lifestyle group editor Mark Kelly and Richard Waller, editor of home and lifestyle title InsideOut.


Clements first joined Vogue as a receptionist in 1985, before moving up through the ranks and then briefly working as deputy editor of the newly-relaunched Harper’s Bazaar in 1998 – she was seen as a steady hand on a title that witnessed four different editors in as many years in the late 1990s.  

Clements’ dismissal seemed all the more perplexing, given that Vogue fared better than its competitors according to the most recent Australian Audit Bureau of Circulations figures for newsstand sales: 51,013 copies in the six months to December 2011, down 2.3 percent on 2010. Compared to a 7.9 percent drop at Harpers Bazaar (54,158) and 5.2 percent decline at Marie Claire (100,128). Total fashion magazine sales fell 4.9 percent year-on-year. 

Still, Vogue remains the lowest-selling Australian mainstream fashion magazine. Vogue’s overall circulation in the year to March 2012 slumped 9.3 per cent to 361,000, while InsideOut’s circulation fell 9.5 percent in the December half to 45,300 copies and readership fell 7.8 percent to 130,000.

“The perception was that she was doing a good job and the magazine has been a very consistent performer in what has been a pretty challenging marketplace,” said media analyst Simon Davies from OMD. “But it’s a tough environment and the magazine marketplace is very different to what it was even two or three years ago. There’s a lot of pressure on circulation, there’s a lot of pressure in terms of having cross-platform offerings and there’s a lot of pressure from advertisers in terms of expectations.”

JC Penney likes Coupons

So maybe JCPenney shoppers don’t hate coupons after all.
New CEO Ron Johnson — who aggressively revamped the chain’s pricing strategy this spring with the idea that customers were annoyed by coupons — admitted yesterday that he may have miscalculated.
“Our first 90 days were tougher than expected,” Johnson told investors at a presentation in Manhattan.
In January, the former Apple exec had shrugged off concerns about going cold turkey on coupons, launching a TV ad campaign that depicted shoppers screaming “No!” as they clenched circulars in frustration.

But yesterday, as the aging department-store chain reported a $163 million loss on a steep sales decline, execs were forced to admit that getting rid of coupons likely drove a 10-percent drop in customer traffic.
“We did not realize how deep some of our customers were into this,” operating chief Mike Kramer said of coupon clipping. “We’ve got to wean them off this and educate our consumers.”’
Penney shares plunged more than 12 percent in after-market trades, after closing at $33.32. The sell-off hit high-profile shareholders including hedge-fund tycoon Bill Ackman, whose one-day paper losses totaled more than $150 million.
The heart-stopping drop in store traffic, Penney execs said, was the company’s biggest problem as sales plummeted 20 percent to $3.15 billion during the first quarter — nearly twice the decline that analysts had expected.
Penney is getting clobbered on weekends, when coupon clippers are heading to competitors like Macy’s and Kohl’s. But Johnson tried to put a positive spin on the news, saying the new pricing strategy is


making weekly shopping patterns more predictable, creating an opportunity for more efficient inventory management.
Penney’s revenue drop was accompanied by an 18.9 percent plunge in sales at stores open at least a year, fueling a wider-than-expected loss of $163 million despite ruthless cost cuts that slashed jobs and inventory.
In a bid to conserve cash, Penney suspended its dividend and backed off its previous full-year profit forecast. Penney likewise declined to give a sales outlook, though it said declines should narrow.
Penney will open 10 new in-store shops this fall as it rolls out a swath of new brands, according to President Michael Francis. In addition to Martha Stewart home products next spring, Penney will tap exclusive lines of housewares from Jonathan Adler as well as Michael Graves, who last year ended a long stint at Target.

Read more: NY Post

Francesca's Fires CFO for "Being on Facebook"

Francesca's Holdings Corp. axed Gene Morphis, its chief financial officer, for sharing company information over a social media network.

The 236-door Houston-based chain said the firing was based on an investigation by the board of directors with the assistance of outside counsel.

"Francesca's has delivered consistent, high-quality results for customers and public investors," said Greg Brenneman, chairman of the 236-door chain. "We are disappointed by this situation but we expect our executives to comply with all company policies. We acted immediately on Friday afternoon when we first became aware of the matter and have moved swiftly to replace Mr. Morphis based on the findings of the investigation."

Cynthia Thomassee, Francesca's controller, will act as interim cfo as the firm looks for a replacement.

Otherwise, things are looking up for the chain, which boosted first-quarter earnings guidance to 17 cents to 18 cents a share from the 14 cents to 15 cents previously projected.

"It is important to separate the two pieces of news announced today and analyze them objectively," said Randal Konik, an equity analyst at Jefferies. "Granted the termination of Mr. Morphis's employment is unfortunate; however [Francesca's] has a strong bench of senior leaders, is a very well executed company, and we believe it will get through this short term disruption with minimal impact to the underlying business. As seen by the raised guidance, the underlying business remains very strong."

Fashion Star Not Helping; H&M April Sales Fall 10%

Am I the only one watching Fashion Star? Well the H&M shoppers are definitely not watching or shopping.

Hennes & Mauritz AB said sales in comparable units fell by 10 percent in April due to bad weather and “a very negative” calendar effect (when all else fails; blame it on the weather)
Group sales including VAT in local currencies were down by 1 percent compared to April 2011. In the same month last year, H&M had reported sales in comparable units were up 11 percent, and sales in local currencies jumped 21 percent

.

The Swedish fast-fashion giant had warned last month that the calendar effects which boosted sales in March would be reversed in April. Nils Vinge, head of investor relations at H&M, said at the time that April would count a Sunday and Monday, traditionally the weakest trading days, in place of a Friday and Saturday.

The store count stood at 2,549 on April 30 versus 2,264 stores on April 30, 2011