Chairman Thomas Engibous has taken odds with William Ackman, the activist shareholder and vociferous member of Penney’s board, who on Thursday morning issued a letter to the media complaining that Penney’s hasn’t acted fast enough to replace interim chief executive officer Myron “Mike” Ullman.
Retailers can only hope the early stages of back-to-school aren’t a harbinger of holiday. As stores resort to virtually every device in their promotional toolboxes to build buzz for the b-t-s season, what had been already modest expectations are becoming even gloomier.
Catherine Malandrino has widened her circle of investors. On Monday, Bluestar Alliance LLC said it had signed a definitive agreement to acquire the Catherine Malandrino brand and intellectual property assets from Tahari ASL LLC for an undisclosed sum.
Michael Kors Holdings Ltd. sees no slowdown ahead. Reporting an 82.1 percent increase in first-quarter profits, the accessories and fashion brand on Tuesday forecast a 15 to 20 percent comparable-store gain in the second quarter and a 20 percent increase for the full year.
The revelers made a statement with their sartorial choices, which included cutoff denim, lace and fringe dresses and hippie tunics. Floral touches — whether in prints or as appliqués — added a charming flavor to the scene.