Thursday, May 31, 2012
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.”
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.”
"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.
Wednesday, May 30, 2012
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.
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.
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.”
READ MORE
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.”
READ MORE
Tuesday, May 29, 2012
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.”
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.”
Friday, May 25, 2012
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.
Thursday, May 24, 2012
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
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.
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.
Wednesday, May 23, 2012
International Contemporary Furniture Fair 2012
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| 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. |
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| 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.'![[SB10001424052702303816504577312391783992370]](http://s.wsj.net/public/resources/images/OB-SK664_mag041_D_20120329165945.jpg)
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.'Tuesday, May 22, 2012
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.”
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
“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?
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.
Monday, May 21, 2012
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!
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
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
Friday, May 18, 2012
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
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
Wednesday, May 16, 2012
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.”
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.
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.
“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.
Tuesday, May 15, 2012
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."
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
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
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
Monday, May 14, 2012
Best Buy CEO Report: He Was Innappropiate
Best Buy CEO Brian Dunn Gets $6.6 Million Severance Package After 'Friendship' With 29-Year-Old Employee: Best Buy today released the results of a probe into former CEO Brian Dunn’s
relationship with a 29-year-old female subordinate, and they are not too
flattering.
The audit committee’s report says
that Dunn, 51, “violated Company policy by engaging in an extremely
close personal relationship with a female employee that negatively
impacted the work environment.”
How close is “extremely close”? The former CEO and the younger
employee went to lunch and drinks on multiple occasions during both the
work week and on weekends. Dunn gave the female employee tickets to at
least seven concerts and sporting events. And employees often saw them
alone in Dunn’s office or company conference rooms.
“During one four-day and one five-day trip abroad during 2011, the
CEO contacted the female employee by cell phone at least 224 times,
including 33 phone calls, 149 text messages, and 42 picture or video
messages. In one instance, several photographs were discovered on the
CEO’s personal cell phone that contained messages expressing affection,
one of which included the female employee’s initials,” the report
states.
Let this be a warning to all CEOs - stay away from the help!
Let this be a warning to all CEOs - stay away from the help!
SEE FULL REPORT HERE
Saturday, May 12, 2012
Market Update: Retail Sector
Markets muddled by today, closing with minor losses after investors
mostly shrugged off J.P. Morgan Chase & Co.'s surprise $2 billion
trading loss and concerns about growth in the Chinese economy.
Stocks in general had a tough week as investors worried again about the stability of the euro zone following political upheaval in France and Greece.
But in Little Rock, things were looking brighter. Dillard's Inc., which posted a 23.9 percent gain in first-quarter profits late Thursday, saw its stock gain 6.4 percent to $70.43, the department store's best close ever.
The S&P Retail Index slipped 0.2 percent, or 1.52 points, to 625.64, as the Dow Jones Industrial Average dipped 0.3 percent, or 34.44 percent, to 12,820.60.
Also declining for the day were The Bon-Ton Stores Inc., down 6.2 percent to $4.87; Nordstrom Inc., down 4.8 percent to $50.96 after the retailer fell short of Wall Street's first-quarter earnings expectations; Avon Products Inc., 3.4 percent to $20.19 — which is still mulling over a bid from Coty, Inc., that is partially backed by Warren Buffett — and Elizabeth Arden Inc., 2.5 percent to $35.88.
The only European market that fell was the CAC 40 in Paris, following a projection this week by the Bank of France of zero growth for the first six months of the year.
The DAX in Frankfurt rose 1 percent to close at 6,579.93, followed by the FTSE 100, which was up 0.6 percent to 5,575.52. The FTSE MIB in Milan advanced 0.3 percent to 14,045.35.
Retail and luxury stocks were mostly up. Brunello Cucinelli rose 2.3 percent to close at 10.74 euros, following a 36 percent rise in net profits this week; Inditex was up 1.4 percent to 68.68 euros; Marks & Spencer Group advanced 3.5 percent to 3.60 pounds, and Yoox gained 3.4 percent to 10.50 euros.
Among the stocks that lost ground were Geox, which fell 3.6 percent to 1.93 euros following a 4.3 percent drop in first-quarter net profit, and Arcandor, which was down 3.6 percent to 0.03 euros.
The euro traded at $1.29 while the pound went for $1.61.
Source: WWD
Stocks in general had a tough week as investors worried again about the stability of the euro zone following political upheaval in France and Greece.
But in Little Rock, things were looking brighter. Dillard's Inc., which posted a 23.9 percent gain in first-quarter profits late Thursday, saw its stock gain 6.4 percent to $70.43, the department store's best close ever.
The S&P Retail Index slipped 0.2 percent, or 1.52 points, to 625.64, as the Dow Jones Industrial Average dipped 0.3 percent, or 34.44 percent, to 12,820.60.
Also declining for the day were The Bon-Ton Stores Inc., down 6.2 percent to $4.87; Nordstrom Inc., down 4.8 percent to $50.96 after the retailer fell short of Wall Street's first-quarter earnings expectations; Avon Products Inc., 3.4 percent to $20.19 — which is still mulling over a bid from Coty, Inc., that is partially backed by Warren Buffett — and Elizabeth Arden Inc., 2.5 percent to $35.88.
The only European market that fell was the CAC 40 in Paris, following a projection this week by the Bank of France of zero growth for the first six months of the year.
The DAX in Frankfurt rose 1 percent to close at 6,579.93, followed by the FTSE 100, which was up 0.6 percent to 5,575.52. The FTSE MIB in Milan advanced 0.3 percent to 14,045.35.
Retail and luxury stocks were mostly up. Brunello Cucinelli rose 2.3 percent to close at 10.74 euros, following a 36 percent rise in net profits this week; Inditex was up 1.4 percent to 68.68 euros; Marks & Spencer Group advanced 3.5 percent to 3.60 pounds, and Yoox gained 3.4 percent to 10.50 euros.
Among the stocks that lost ground were Geox, which fell 3.6 percent to 1.93 euros following a 4.3 percent drop in first-quarter net profit, and Arcandor, which was down 3.6 percent to 0.03 euros.
The euro traded at $1.29 while the pound went for $1.61.
Source: WWD
Friday, May 11, 2012
The Shopper: Harlem, N.Y.
Whats are They Buying
Shopper #1: Elizabeth Espinal
Store: MAC
Location: 202 West 125th Street
Elizabeth Espinal, a freelance makeup artist, needed to refill her
makeup kit for when she’s on the job. Citing MAC as her go-to brand,
along with Nars and L’Oréal, the 26-year-old says she spends around
$5,000 annually on beauty products. “I always need to replenish my kit,
but I purchase for myself too,” says Espinal. Espinal relies on YouTube
as her source for new products, tips and tricks. “I can’t stand a pushy
salesperson,” she says. “When I need to learn about new products, I
usually turn to YouTube. I understand the sales associates’ job is to
sell, but if I tell someone I’m just looking and they come back to ask
me again, it ruins the shopping experience.” Luckily, that wasn’t the
experience today for Espinal, who has been a makeup artist for four
years. Her favorite part of the job? “I love to see people’s reactions
after I’ve given them a makeover.”
____________________________________________________________________________
Shopper #2: Adrienne Crudup
Store: Carol’s Daughter
Location: 24 West 125th Street
Adrienne Crudup, 47, used to trek from Queens to get her coveted
products from Carol’s Daughter. Now that she lives in Harlem, the store
is happily right at her doorstep. “I know of the new merchandise and the
old and I’ve really grown to like the natural ingredients,” says
Crudup. A preschool program director, Crudup says she spends about
$1,000 annually on beauty purchases. “You have to switch up your
products every six months,” says Crudup. “You also need to know how to
shop for what works best for you.” The serene Carol’s Daughter in the
epicenter of 125th Street is an ideal shopping experience for Crudup. “I
don’t like overstock. I prefer organization. Also, I want to be
acknowledged when I come into a store,” says Crudup, “and I felt that
today.”
P&G to Move From Cincinnati to Asia
Although it's profits rose by 3% P&G, in a bold move loaded with symbolism, has
decided to move the headquarters of its skin care, cosmetics and
personal care business from Cincinnati to where its sees the future —
Asia.
As one unintended consequence, the executive who originally recommended the relocation strategy, 49-year-old Gina Drosos, has decided to retire as group president of skin care, cosmetics and personal care, rather than uproot her teenage children by making the move east. Drosos, who will step down Sept. 1, will be succeeded by Deb Henretta, who is now based in Singapore as group president of P&G Asia and the specialty channel.
As one unintended consequence, the executive who originally recommended the relocation strategy, 49-year-old Gina Drosos, has decided to retire as group president of skin care, cosmetics and personal care, rather than uproot her teenage children by making the move east. Drosos, who will step down Sept. 1, will be succeeded by Deb Henretta, who is now based in Singapore as group president of P&G Asia and the specialty channel.
Thursday, May 10, 2012
Stephen Colbert, Anna Wintour Talk Fashion
Is Anna Wintour running for Public Office?
“Is there ever a time when you cannot care about fashion?” Stephen Colbert asked Anna Wintour last night, during his show on Comedy Central. “Do you ever just say to yourself ‘to hell with this,’ put on your zebra-striped sweat pants and go to Long John Silver’s and just lose yourself in a pile of battered fried shrimp?”
“Well, I haven’t done it recently but maybe now you’ve suggest it I should try,” joked Wintour.
Colbert playfully suggested they could go bobbing for French fries. She didn’t blink, as the crowd was ooing and awing. “Why not? Why not. It’s a date,” she said.
Wintour appeared on “The Colbert Report,” to promote the Metropolitan Museum of Art’s new Costume Institute exhibition, “Schiaparelli and Prada: Impossible Conversations.”
After a few minutes of banter on whether fashion can be art, Colbert said, “Well, I don’t trust Prada. My understanding is the devil wears Prada. And this is a Christian nation madam!
“That movie was so last year,” Wintour said.
Colbert countered, “It was kind of five years ago.”
“Is there ever a time when you cannot care about fashion?” Stephen Colbert asked Anna Wintour last night, during his show on Comedy Central. “Do you ever just say to yourself ‘to hell with this,’ put on your zebra-striped sweat pants and go to Long John Silver’s and just lose yourself in a pile of battered fried shrimp?”
“Well, I haven’t done it recently but maybe now you’ve suggest it I should try,” joked Wintour.
Colbert playfully suggested they could go bobbing for French fries. She didn’t blink, as the crowd was ooing and awing. “Why not? Why not. It’s a date,” she said.
Wintour appeared on “The Colbert Report,” to promote the Metropolitan Museum of Art’s new Costume Institute exhibition, “Schiaparelli and Prada: Impossible Conversations.”
After a few minutes of banter on whether fashion can be art, Colbert said, “Well, I don’t trust Prada. My understanding is the devil wears Prada. And this is a Christian nation madam!
“That movie was so last year,” Wintour said.
Colbert countered, “It was kind of five years ago.”
Wednesday, May 9, 2012
In Time For Mother's Day
The new digital platform for-stylish
moms, Elizabethstreet.com, will make its official debut today, just in
time for Mother’s Day. Appropriately, it will feature motherhood coach
and star of Bravo’s “Pregnant in Heels” Rosie Pope in its latest
installment of “Mom Essentials,” where she will share her expertise on
juggling a successful career and motherhood, as well as new mom Ivanka
Trump, who will be similarly featured on the site on May 11.
Tuesday, May 8, 2012
Amazon.com Is A Habit
 |
| Maria Renz - VP MyHabit.com (Center) |
It is all another major sign the dot-com giant wants to embrace designers, become a bigger player in fashion and shed its reputation as the “Wal-Mart of the Web.”
According to sources, Amazon’s fledgling members-only flash-sale Web site, called MyHabit, may be on the verge of revealing some major brand and designer partnerships. MyHabit, celebrating a year in business this month, is still staffing up, and “sitelets” are believed to be on Amazon’s agenda. “With Amazon, who knows? Jeff Bezos strikes exclusive deals in other categories all the time,” said Lori Schafer, author and executive adviser of retail at the SAS Institute. “I wouldn’t put it past Amazon to do it with a few designers and see what happens.”
In February, MyHabit launched a designer tab alongside the others for the women’s, men’s, children’s and home categories. Thakoon, Valentino, Costume National, Balmain and Alejandro Ingelmo participated at up to 60 percent off, consistent with the other MyHabit sales. The Web site remains weighted to contemporary brands, rather than designer. Back in September, Julie Gilhart, former fashion director at Barneys New York, joined Amazon’s fashion group as a consultant to the Amazon Clothing Store, Endless and MyHabit sites. Amazon also owns Zappos and Shopbop, and sells clothing and accessories on the main Amazon site.
Another sign could come later this year, when the first Amazon brick-and-mortar store opens in Seattle, where the company is based. It will showcase technology, like Amazon’s own Kindle readers and Fire tablets, though there’s the possibility of testing other categories, like fashion.
Officials from MyHabit were unavailable for comment.
It’s not like Amazon is just waking up to the potential of apparel. Several years ago, Bezos met with Burt Tansky, former ceo of the Neiman Marcus Group, in the spirit of partnering. Bezos wanted to create a “black label” Web site for luxury fashion and wanted Bergdorf Goodman as the anchor. “There was some real dialogue on that,” said a source who was close to the situation. Nothing ever came out of the conversations, which some read as an indication of Amazon’s challenge —transcending its image as a site for everything under the sun and becoming a strong fashion destination.
Source: WWD
WTF - Macys to Give Nicole Richie a Fashion Line
Macy’s sees Nicole Richie as its fashion star, at least for a season., really??!!
Richie is designing a capsule collection for Macy’s called Nicole Richie for Impulse. It will be exclusive to the store’s Impulse department catering to Millennials, and sold in about 100 Macy’s locations as well as on macys.com, beginning mid-September.
“Nicole is pretty savvy when it comes to the fashion business and understanding consumers. She’s a real fashion influencer,” said Martine Reardon, Macy’s Inc.’s chief marketing officer. “She’s got a very definitive look, very free style and bohemian chic, and our collection will definitely pay homage to her style. But we are being very careful to provide what the Macy’s customer wants. She really likes clothes with versatility. She likes to dress it up and dress it down.
COME ON!!!!!!
Richie is designing a capsule collection for Macy’s called Nicole Richie for Impulse. It will be exclusive to the store’s Impulse department catering to Millennials, and sold in about 100 Macy’s locations as well as on macys.com, beginning mid-September.
“Nicole is pretty savvy when it comes to the fashion business and understanding consumers. She’s a real fashion influencer,” said Martine Reardon, Macy’s Inc.’s chief marketing officer. “She’s got a very definitive look, very free style and bohemian chic, and our collection will definitely pay homage to her style. But we are being very careful to provide what the Macy’s customer wants. She really likes clothes with versatility. She likes to dress it up and dress it down.
COME ON!!!!!!
Gilt Groupe & The Fire Sale
Off-price e-tailer Gilt Groupe will host a
New York warehouse sale on May 18 and 19 at the Altman Building. The
event will offer men’s, women’s, children’s and home merchandise taken
from Gilt warehouse stock at up to 80 percent off suggested retail. This
edition will be the first time merchandise from Park & Bond, Gilt’s
full-price men’s site, will be included in the sale. The warehouse
sales have become a favored outlet for Gilt to unload inventory in a
brick-and-mortar setting.
Shoppers must buy tickets for specific time slots, which went on sale Monday on Gilt City for $10 to $20. Top Gilt customers received a special invitation to shop the sale prior to the public.
Shoppers must buy tickets for specific time slots, which went on sale Monday on Gilt City for $10 to $20. Top Gilt customers received a special invitation to shop the sale prior to the public.
Monday, May 7, 2012
Barney's Has A New Owner...Again.
Barneys New York once again has a new owner.
In a debt-for-equity swap rescuing it from a potential bankruptcy, Barneys has reached an agreement with its largest lender, Perry Capital, as well as The Yucaipa Cos., another key lender, and its current owner Istithmar World, to significantly reduce its debt and improve the capital structure. Perry Capital, run by Richard Perry, now becomes the majority owner of Barneys.
For decades, the luxury retailer has struggled with huge debt, changing ownerships, a bankruptcy in the Nineties and an appeal that is considered too luxurious and narrow for some of the cities where it operates. Amid it all, the store has managed to maintain a reputation for high-quality merchandise, irreverent marketing, artisanship and being among the first to introduce some of the world’s best design talent.
On Monday, after the deal was disclosed , Barneys chief executive officer Mark Lee and its new chairman Richard Perry said the transaction gives the store newfound financial flexibility to grow the business and accelerate long-overdue renovations, as well as ease worries about the looming debt that was coming due in the next few years.
Officials also said Barneys’ operations are strong, but the company had been heavily leveraged due to its 2007 sale by The Jones Group to Istithmar World for about $800 million. Perry helped finance that deal. It was a premium price to pay, ultimately dragging down the bottom line and for several seasons creating jitters in both fashion and banking circles regarding Barneys’ ability to survive.
Under the deal, Perry Capital and The Yucaipa Cos., which is run by Ron Burkle, have partnered to convert debt-for-equity to reduce the retailer’s long-term debt from $590 million to $50 million.
“This agreement really puts the balance sheet in a very good condition to match our strong operational performance,” Lee told WWD. “The debt relates to the 2007 acquisition. We’ve been heavily leveraged since then. With only $50 million in debt left, we have huge financial flexibility to execute and accelerate our strategy. From an operational point of view, we have been very strong. We grew revenues by double digits and profits [earnings before interest, taxes, depreciation and amortization] by 40 percent.”
Barneys still has to renegotiate a revolving credit agreement. Perry said, “That’s kind of a nonissue at this point.” According to Perry, the revolver has been paid down “dramatically,” and was more than supported by working capital. “There are a lot of people who would be part of the revolver. This is not a significant deterrent or liability for the company.”
With Perry, the majority owner, Istithmar and Yucaipa retain minority stakes. Executives declined to reveal the exact breakdown of ownership.
A new board will be created at Barneys. Perry will be its chairman and Perry Capital will have three additional seats on the board. Lee is also on the board. In addition, Yucaipa and Istithmar will each have a seat, for a total of seven. “The board very much reflects the consensual and cooperative way this transaction was accomplished,” Lee said.
Perry, when asked if he would play an active role in the company, responded: “My responsibility is to support Mark and his management team, and to make sure we give him the capital necessary to create his vision, which is really exciting.” He stated that he would not have an operational or executive role. “I expect to be helpful and involved and to give Mark all the additional input he might want and need and to be his partner.”
Lee added that the increase in free cash flow “allows us to invest in the business and begin long-overdue renovations,” including continuing work already begun at the Madison Avenue flagship by 60th Street. Lee said the ground floor will be complete by the end of summer, and a new shoe floor will be unveiled on the fifth level in the summer, among other changes.
Lee also said Barneys is planning for major renovations at the Beverly Hills flagship, considered the luxury chain’s second most important store, where so far there have only recently been some “minor” upgrades. Barneys also has what it considers “flagships” in Chicago, Seattle, Boston, Dallas, San Francisco, Las Vegas and Scottsdale, Ariz. In addition, barneys.com is being redesigned and will be relaunched in a matter of weeks.
Despite Barneys executives consistently stating that its operations are healthy and business has been strong recently, the store continues to be dogged by speculation that certain locations are lacking for traffic. However, Lee said no Barneys stores are closing, when asked if that was a possibility.
“We have closed a few Co-ops,” Lee acknowledged, while also noting the company regularly reviews store performances and leases. Regarding the Co-op closings, Lee said, “There’s no big news there.”
Asked again to respond to speculation about some stores lacking traffic, Lee said it’s best to look at the store portfolio overall, stressing, “What matters is the end result of the [entire] company.”
Perry took a slightly different perspective, saying, “It would not surprise me if we were not hitting on all cylinders at all times.…If you look at the economics of the United States, certain cities are doing extremely well and certain cities have not recovered yet,” from the recession. Among the Barneys locations said to be slow are the units in Las Vegas and Dallas.
“There’s no debt on the company now,” Perry said. “The company is going to grow. There is a long, long runway for this company to operate really successfully. All the partners got together and eliminated the debt. That was really the problem. That was the real fear. Other than that, things have been very, very good.”
source WWD
In a debt-for-equity swap rescuing it from a potential bankruptcy, Barneys has reached an agreement with its largest lender, Perry Capital, as well as The Yucaipa Cos., another key lender, and its current owner Istithmar World, to significantly reduce its debt and improve the capital structure. Perry Capital, run by Richard Perry, now becomes the majority owner of Barneys.
For decades, the luxury retailer has struggled with huge debt, changing ownerships, a bankruptcy in the Nineties and an appeal that is considered too luxurious and narrow for some of the cities where it operates. Amid it all, the store has managed to maintain a reputation for high-quality merchandise, irreverent marketing, artisanship and being among the first to introduce some of the world’s best design talent.
On Monday, after the deal was disclosed , Barneys chief executive officer Mark Lee and its new chairman Richard Perry said the transaction gives the store newfound financial flexibility to grow the business and accelerate long-overdue renovations, as well as ease worries about the looming debt that was coming due in the next few years.
Officials also said Barneys’ operations are strong, but the company had been heavily leveraged due to its 2007 sale by The Jones Group to Istithmar World for about $800 million. Perry helped finance that deal. It was a premium price to pay, ultimately dragging down the bottom line and for several seasons creating jitters in both fashion and banking circles regarding Barneys’ ability to survive.
Under the deal, Perry Capital and The Yucaipa Cos., which is run by Ron Burkle, have partnered to convert debt-for-equity to reduce the retailer’s long-term debt from $590 million to $50 million.
“This agreement really puts the balance sheet in a very good condition to match our strong operational performance,” Lee told WWD. “The debt relates to the 2007 acquisition. We’ve been heavily leveraged since then. With only $50 million in debt left, we have huge financial flexibility to execute and accelerate our strategy. From an operational point of view, we have been very strong. We grew revenues by double digits and profits [earnings before interest, taxes, depreciation and amortization] by 40 percent.”
Barneys still has to renegotiate a revolving credit agreement. Perry said, “That’s kind of a nonissue at this point.” According to Perry, the revolver has been paid down “dramatically,” and was more than supported by working capital. “There are a lot of people who would be part of the revolver. This is not a significant deterrent or liability for the company.”
With Perry, the majority owner, Istithmar and Yucaipa retain minority stakes. Executives declined to reveal the exact breakdown of ownership.
A new board will be created at Barneys. Perry will be its chairman and Perry Capital will have three additional seats on the board. Lee is also on the board. In addition, Yucaipa and Istithmar will each have a seat, for a total of seven. “The board very much reflects the consensual and cooperative way this transaction was accomplished,” Lee said.
Perry, when asked if he would play an active role in the company, responded: “My responsibility is to support Mark and his management team, and to make sure we give him the capital necessary to create his vision, which is really exciting.” He stated that he would not have an operational or executive role. “I expect to be helpful and involved and to give Mark all the additional input he might want and need and to be his partner.”
Lee added that the increase in free cash flow “allows us to invest in the business and begin long-overdue renovations,” including continuing work already begun at the Madison Avenue flagship by 60th Street. Lee said the ground floor will be complete by the end of summer, and a new shoe floor will be unveiled on the fifth level in the summer, among other changes.
Lee also said Barneys is planning for major renovations at the Beverly Hills flagship, considered the luxury chain’s second most important store, where so far there have only recently been some “minor” upgrades. Barneys also has what it considers “flagships” in Chicago, Seattle, Boston, Dallas, San Francisco, Las Vegas and Scottsdale, Ariz. In addition, barneys.com is being redesigned and will be relaunched in a matter of weeks.
Despite Barneys executives consistently stating that its operations are healthy and business has been strong recently, the store continues to be dogged by speculation that certain locations are lacking for traffic. However, Lee said no Barneys stores are closing, when asked if that was a possibility.
“We have closed a few Co-ops,” Lee acknowledged, while also noting the company regularly reviews store performances and leases. Regarding the Co-op closings, Lee said, “There’s no big news there.”
Asked again to respond to speculation about some stores lacking traffic, Lee said it’s best to look at the store portfolio overall, stressing, “What matters is the end result of the [entire] company.”
Perry took a slightly different perspective, saying, “It would not surprise me if we were not hitting on all cylinders at all times.…If you look at the economics of the United States, certain cities are doing extremely well and certain cities have not recovered yet,” from the recession. Among the Barneys locations said to be slow are the units in Las Vegas and Dallas.
“There’s no debt on the company now,” Perry said. “The company is going to grow. There is a long, long runway for this company to operate really successfully. All the partners got together and eliminated the debt. That was really the problem. That was the real fear. Other than that, things have been very, very good.”
source WWD
Nightly Deal
Hey Guys
Every Night I'm going to be bringing you a New Deal. Here is a place to look for those hard to find movies.
Download Movies
Every Night I'm going to be bringing you a New Deal. Here is a place to look for those hard to find movies.
Download Movies
Friday, May 4, 2012
Counterfeit Bust, Fake Fashions
One one the rights of passage in NY is hitting Canal Street for a fake Coach Bag or Rolex (Bolex - if you are from Brooklyn). Well guess what?
Federal authorities said Thursday they made the largest counterfeit bust ever at a flea market late last month, netting 220,000 fake apparel, shoes, jewelry, handbags, cosmetics and other items with an estimated retail value of $47 million.
U.S. Immigration and Customs Enforcement said they executed a federal search warrant on April 22 at the Patapsco Flea Market in Baltimore, the culmination of a two-and-a-half-year investigation. Over the course of several days, authorities, with the help of some trademark holders, snagged tens of thousands of well-known fashion brands, including Louis Vuitton, Estée Lauder, Gucci, Coach, Kate Spade, Nike, Dolce & Gabbana, Ralph Lauren Polo, Lacoste, The North Face, Chanel, Tiffany, Under Armour and Timberland.
Authorities said the multiday operation also netted the seizure of about $1.5 million in suspected criminal proceeds.
Industry trademark holders, including Under Armour and Estée Lauder, participated in the operation with ICE officials and local law enforcement. Blazer Investigations, which represents several brand names, was also on site assisting in the identification of the counterfeit goods.
“The illegal importation and sale of counterfeit goods is a significant problem that affects our economy, impacts American jobs and innovation, puts the public’s health and safety at risk, and at times threatens our national security,” said William Winter, special agent in charge for Homeland Security Investigations, a division of ICE, in Baltimore. “Consumers should know that if they buy pirated and unlicensed products, they are hurting legitimate businesses and they may also be facilitating criminal activity.”
Federal authorities said Thursday they made the largest counterfeit bust ever at a flea market late last month, netting 220,000 fake apparel, shoes, jewelry, handbags, cosmetics and other items with an estimated retail value of $47 million.
U.S. Immigration and Customs Enforcement said they executed a federal search warrant on April 22 at the Patapsco Flea Market in Baltimore, the culmination of a two-and-a-half-year investigation. Over the course of several days, authorities, with the help of some trademark holders, snagged tens of thousands of well-known fashion brands, including Louis Vuitton, Estée Lauder, Gucci, Coach, Kate Spade, Nike, Dolce & Gabbana, Ralph Lauren Polo, Lacoste, The North Face, Chanel, Tiffany, Under Armour and Timberland.
Authorities said the multiday operation also netted the seizure of about $1.5 million in suspected criminal proceeds.
Industry trademark holders, including Under Armour and Estée Lauder, participated in the operation with ICE officials and local law enforcement. Blazer Investigations, which represents several brand names, was also on site assisting in the identification of the counterfeit goods.
“The illegal importation and sale of counterfeit goods is a significant problem that affects our economy, impacts American jobs and innovation, puts the public’s health and safety at risk, and at times threatens our national security,” said William Winter, special agent in charge for Homeland Security Investigations, a division of ICE, in Baltimore. “Consumers should know that if they buy pirated and unlicensed products, they are hurting legitimate businesses and they may also be facilitating criminal activity.”
MCA of Beastie Boys Dead at 47
Famed hip-hop trio the Beastie Boys are mourning the loss of their brother-in-rhyme Adam "MCA" Yauch, who died May 4 as a result of his battle with cancer, according to TMZ. The Brooklyn, N.Y., native was 47.
Fours years ago on July 20, 2009, Yauch announced he had been diagnosed
with a cancerous tumor in his parotid gland, located in the mouth. As a
result of the disease, the Beastie Boys had postponed all tour dates and
pushed back the release of their eighth studio album, originally titled
Hot Sauce Committee, Pt. 1, which was later released and titled Hot Sauce Committee, Pt. 2.
His illness may have caused setbacks in his personal life and career but
Yauch put up a strong fight, battling against the cancer. In August
2009, he underwent surgery to remove the tumor in his glands. Several
months prior, he had asked fans to meditate with him in an effort to
smash "apart all the cancer cells in the world."
Earlier this year, reports that the veteran rhymer were cancer-free
surfaced, however, Yauch dismissed the news via his publicist. "I'm
continuing treatment, staying optimistic and hoping to be cancer free in
the near future," he said.
Adam "MCA" Yauch, Michael "Mike D" Diamond and Adam "Ad-Rock" Horovitz
formed the Beastie Boys in 1979, starting off as a punk band and later
transitioned to hip-hop in 1984. The threesome released their debut
album, Licensed to Ill, in 1986, noted as Columbia Records' "fastest-selling debut record to date and sold over 9 million copies."
They've gone on to release numerous albums, won a Grammy award for their
1995 hit "Sabotage," among other Grammy accomplishments, earned MTV
Video Music Awards for videos "Intergalactic" and "Make Some Noise" and
were inducted into the Rock and Roll Hall of Fame in April 2012. Yauch
was absent from the ceremony, however, Diamond and Horowitz accepted the
achievement in his honor.
Thursday, May 3, 2012
Avon's CEO is Out!!
After a tumultuous four months, Andrea Jung’s 12-year run as chief executive officer of Avon had ended.“As I end my tenure, what a privilege it’s been to serve as Avon’s leader for the past 12 years,” Jung told the sparsely filled auditorium of shareholders at the company’s annual meeting Thursday morning. There wasn’t even a round of applause for the woman whose mere presence, in the past, was enough to rouse thousands of Avon sales representatives in a standing ovation, and whose name regularly landed on business magazines’ list of the most powerful executives in the world.
At the company meeting, Jung, dressed in a black suit, introduced herself to the crowd — filled mostly with board members, company executives and retirees — as the new executive chairman. She quickly turned the focus to Avon’s new ceo Sheri McCoy, who joined the beleaguered direct seller on April 23 from Johnson & Johnson.
“We have found the right leader to take Avon into the future,” said Jung, who led the meeting and whose usual magnetic stage presence was hampered by dim lighting and a somewhat more subdued presentation. She praised McCoy for her turnaround track record, strategic and operational skills and her motivational capabilities.
Jung fielded a handful of questions from shareholders, several of which were sharp in tone. One attendee asked how many shareholders approved Avon’s executive compensation, which was up for vote at the meeting, adding, “I wasn’t one of them.” The lone Avon sales representative in attendance scolded Avon — for the second year in a row — for “an egregious lack of social networking tools,” including the ability to “like” certain Avon products on Facebook or to be able to text fellow representatives and customers. “This is what word of mouth sounds like today and our tongues are tied,” he said, noting that two of the 10 key selling tools that Avon provides its reps include carbon-paper credit card payment forms and paper brochures. Jung responded that 80 percent of reps place orders digitally, but acknowledged “there’s lots of work to do.” She said McCoy and her team will place digital opportunities at the forefront of their strategy.
“I look forward to continuing to offer you my support,” Jung told McCoy. The new ceo spoke briefly at the meeting, continuing the same themes she outlined to analysts during the company’s earnings call on Tuesday. It’s been a trying week for the company, as first-quarter profits dove 81.6 percent to $26.5 million, and Avon warned that its performance could worsen in the second quarter.
“I’m taking a fresh look at every aspect of the business,” McCoy told shareholders. “I will develop a list of five to six key priorities.” On Tuesday, McCoy said she plans to sketch out her strategy for Avon during the company’s next earnings call, which is slated for August.
“The company continues to believe strongly that its issues are fixable,” said Jung, who since December has faced intense scrutiny from Wall Street analysts and former company ceo’s, as well as an endless stream of bad press.
Coty Inc., which has made its interest in acquiring Avon very public, continues to attract an audience with shareholders, according to industry sources. Coty’s hope is that shareholders will put pressure on Avon’s board to engage in talks about a possible buyout. Coty has not revealed how long it plans to court shareholders, and may consider other ways to move its business forward. Sources said prior to its $10 billion bid for Avon on April 2, Coty spent several months working with an investment bank to actively prepare for an initial public offering. Earlier this week, several Wall Street analysts said that Avon’s poor first-quarter performance could encourage Coty to keep its bid on the table a bit longer.
What is a Bonobos??
Bonobos are just the best fitting pair of pants. I was looking for a new pair of pants and i literally stumbled upon this site. I booked a "fitting" with one of the Sales Reps for a Saturday Afternoon (the only time i had to spare)30 minutes later I had my purchases done and 3 days later my items arrived.
GREAT FINE!!
Wednesday, May 2, 2012
Wal-Mart to Pay $4.8M in Back Wages, Damages
The U.S. Department of Labor said today that Wal-Mart Stores Inc. has
agreed to pay $4.8 million in back wages and damages to more than 4,500
employees nationwide, following an investigation dating back to 2004
that turned up overtime violations under the Fair Labor Standards Act.
Wal-Mart will also pay $463,815 in civil penalties as part of the settlement reached with the DOL.
The settlement comes in the wake of separate allegations of bribery at Wal-Mart’s subsidiary in Mexico, which has also brought federal scrutiny to the retail giant.
Wal-Mart’s stock has already taken a hit because of the bribery
allegations, which surfaced in a New York Times exposé over a week ago.
Wal-Mart’s stock closed Tuesday at $59.07, up 16 cents, on the New York
Stock Exchange, but still below the $62.45 mark it held before the
bribery allegations hit before 10 days ago.
A DOL spokeswoman
said the investigation by the agency’s Wage and Hour Division took place
from June 2004 through March 2007. Wal-Mart corrected the
classification practices in 2007 and negotiations over the back-pay
issues had been ongoing, according to the agency.
Labor officials
charge that Wal-Mart improperly classified current and former vision
center managers and asset protection coordinators at Wal-Mart Discount
Stores, Wal-Mart Supercenters, Neighborhood Markets and Sam’s Club
Warehouses as exempt from overtime pay. The agency said the 4,500
employees are nonexempt from the FLSA and are due overtime pay for any
hours worked beyond 40 in a week.
The FLSA does provide an
exemption from minimum wage and overtime pay requirements for
individuals in executive, administrative, professional and outside sales
positions, as well as certain computer employees, but to qualify for
the exemption, employees must meet certain tests regarding job duties
and be paid on a salary basis at a minimum of $455 a week. Job titles do
not determine exempt status.
“Our department has been working
with Wal-Mart for a long time to reach this agreement,” said Nancy J.
Leppink, deputy administrator of the DOL’s Wage and Hour Division.
“Thanks to this resolution, thousands of employees will see money put
back into their pockets that should have been there all along. The
damages and penalties assessed in this case should put other employers
on notice that they cannot avoid their obligations to their employees by
inappropriately classifying their workers as exempt.”
Greg
Rossiter, director of corporate communications at Wal-Mart, said, “When
the issues resolved today were initially raised, we took them seriously
and fully cooperated with the Department of Labor to make sure they were
corrected in 2007. We adjusted our pay practices at that time and
determined that back wages should be paid for the associates involved.
We have agreed on a fair settlement amount for the associates that
trained for the role of asset protection coordinator and associates in
the role of vision center manager, and we are pleased to have resolved
this matter.”
In addition to the back wages owed to the
employees, Wal-Mart agreed to pay an equal amount in liquidated damages
to the employees, as part of the settlement. The agency said the civil
penalties stem from the “repeat nature of the violations.”
“Misclassification
of employees as exempt from FLSA coverage is a costly problem with
adverse consequences for employees and corporations,” said Secretary of
Labor Hilda Solis. “Let this be a signal to other companies that when
violations are found, the Labor Department will take appropriate action
to ensure that workers receive the wages they have earned.”
source WWD
Terry Lundgren: A Wanted Man!
Macy’s Inc.’s three-month old legal
battle with Martha Stewart Living Omnimedia Inc. has produced about
40,000 pages of documents, but so far Terry J. Lundgren,
the retailer’s president, chairman and chief executive officer, has
been a no show. In a letter to the New York state judge hearing the
case, lawyers for Martha Stewart said Macy’s has refused to make
Lundgren available even though Martha Stewart herself and Lisa Gersh,
the company’s president and chief operating officer, have been deposed.
The letter said Lundgren “is likely to have unique, relevant knowledge
about several of the matters” in the case.
Terry you have to show up man!
Terry you have to show up man!
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