- S&P'S BCBG CONCERNS: Standard & Poor's lowered its corporate credit rating on BCBG Max Azria Group Inc. to "CCC" from "B-minus" last week. The outlook remained negative. "Because we have not yet received financial information for 2007, we have growing concern about the company's liquidity and ability to meet financial covenants," wrote S&P credit analyst Jackie Oberoi in the ratings change. "As a result, we are concerned that BCBG noteholders could accelerate payment." A company spokesman commented, "In order to be consistent with the industry, we changed our fiscal year from December to January this past year, which created a one-time delay in completing our audit. We expect the audit to be completed within 30 days." S&P said the 2006 acquisition of Max Rave and the assumption of related leases meaningfully increased the firm's debt leverage.
- SAKS, TIFFANY TO EXPAND: Saks Inc. and Tiffany & Co. each unveiled plans Tuesday to open new stores this year. Saks will launch three Saks Off 5th off-price doors during the fall in the U.S. Tiffany's expansion will be in Qingdao, China, a summer resort. The expansion of Off 5th, which has 48 stores, will be led by a 30,000-square-foot outpost at the Arches at Deer Park on Long Island, NY in October. The following month, 28,000-square-foot stores will bow at Prime Outlets in St. Augustine, Fla., and Rio Grande Valley Premium Outlets in Mercedes, Tex. The 2,000-foot Tiffany & Co. store will bow in Hisense Plaza in July and will be the jeweler's eighth Chinese location. It will carry a range of the company's collections, including engagement rings, sterling silver and fine jewelry and signature designs, as well as watches, gifts and accessories.
- WAL-MART SELLING UNIT: Wal-Mart Stores Inc. has agreed to sell its Gazeley warehouse property development business to Dubai World, a government-owned investment fund, for an undisclosed sum. The sale is expected to be completed by the end of July. Gazeley develops distribution centers in Europe, China, India and Mexico. Michael Duke, vice chairman of Wal-Mart, said, "Since the development of distribution warehousing for third parties is not a core business for us, Gazeley will be able to better serve its customers as part of an organization...committed to providing the necessary resources and investment for further expansion."
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)