Activity on Saks Inc. stock simmered down Thursday as attention shifted to Saks chairman and chief executive officer Stephen I. Sadove, his motivations for engineering a sale of the luxury chain and the list of potential buyers.
At Macy’s Inc., the pressure is on to keep its growth streak going.
In reporting first-quarter results last week, Macy’s posted its 13th straight quarterly comp gain of at least 3 percent and said top-line sales rose by more than $1 billion in each of the past three years; that earnings per share have improved for 15 quarters in a row, and that the company is approaching its goal of a 14 percent operating earnings rate, after last year’s 13.4 percent.
In a stunning and seemingly swift move, Procter & Gamble Co. has brought back A.G. Lafley as chairman, president and chief executive officer, ousting his successor, Bob McDonald, effective immediately.
A perfect golden sunset accompanied the gold-themed 20th-anniversary edition of amfAR’s annual Cinema Against AIDS gala held in the grounds of the Hôtel du Cap in Cap d'Antibes, France, on Thursday night, with a constellation of stars from the film, fashion and music industries turning out for the event, including Nicole Kidman, Kristin Scott Thomas, Heidi Klum, Duran Duran, Christoph Waltz and Audrey Tautou. “It’s gorgeous here, the view doesn’t get much better than that,” said Karlie Kloss, descending the hotel’s steps with a view over the site’s park and the glistening Mediterranean Sea in the distance. She was literally heads above everybody in skyscraper heels and a black Vuitton pantsuit.
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