– LVMH STOCK SLIDE: LVMH Möet Hennessy Louis Vuitton’s stock closed down 5.26 percent to 63.30 euros, or $99.36 at current exchange, on the Paris Bourse Friday versus the prior day’s close. Reports suggest shareholders were taking profits on a stock that has outperformed its peers.
This story first appeared in the July 7, 2008 issue of WWD. Subscribe Today.
– NORTHPARK CENTER SECURITY: NorthPark Center in Dallas is ramping up security after three recent crimes and an increase of shoplifting. The mall has boosted the hours of its in-house security team and beefed up the number of off-duty police officers it hires for peak shopping times, said marketing director Christine C. Szalay. It also hired a firm to conduct security audits. A woman was shot in the face in the mall’s parking lot in May. Last month, five men robbed NorthPark’s Ben Bridge Jewelers in June of about $260,000 worth of Rolex watches. In the most recent incident, four men smashed a Chevrolet Suburban through Nordstrom’s glass doors after hours and stole an ATM. There were 145 incidents of shoplifting in first six months of 2008 compared with 117 for the same period last year.
– DMC EXEC NAMED: The Dallas Market Center has named Lee Taitel executive vice president and chief financial officer. He replaces Nancy Winton, who has left the company. Taitel oversees all accounting, finance and purchasing departments and reports to Bill Winsor, president and chief executive officer at the DMC. Before joining the DMC, Taitel was vice president of investment accounting for Hudson Advisors, Dallas. The DMC, which includes FashionCenterDallas, is the world’s largest wholesale merchandise complex with more than $8 billion in annual transactions.