SAFILO OFFERING: Eyewear group Safilo is preparing to launch a high-yield bond of up to $324.57 million, possibly by the end of March. Credit Suisse First Boston, which last year bought an unspecified minority stake in Safilo through its private...
SAFILO OFFERING: Eyewear group Safilo is preparing to launch a high-yield bond of up to $324.57 million, possibly by the end of March. Credit Suisse First Boston, which last year bought an unspecified minority stake in Safilo through its private equity unit, is coordinating the bond issue. Safilo, which recently signed a deal to produce and distribute eyewear for Giorgio Armani, currently makes eyewear for brands including Christian Dior, Gucci and Polo Ralph Lauren.
MOVING OUT: In light of its merger with Gart Sports, The Sports Authority plans to close its own Fort Lauderdale, Fla., headquarters within a year. There is "a high level of interest [among the retailer’s 500 employees] who see the potential of the new company" to relocate to Engelwood, Colo., where Gart is headquartered, said Marty Hanaka, chairman of The Sports Authority. But he will continue to call the Sunshine State home. "I’ll have an office in Denver, but I will not relocate my family," he said.
WEAK QUARTER, STRONG YEAR: Blair Corp.’s fourth-quarter sales gain failed to materialize on the bottom line. For the three months ended Dec. 31, the Warren, Pa.-based multichannel direct marketer of women’s apparel reported net income fell 15.4 percent to $6.2 million, or 77 cents a diluted share. That compares with last year’s earnings of $7.4 million, or 93 cents. Net income included an additional $300,000, or 4 cents, due to adjustments in the provisions for doubtful accounts and returns. Net income for the year-ago period included a one-time reduction in income tax expense of $1.5 million, or 19 cents, and additional net income of $1.3 million, or 16 cents, due to adjustments in the provisions for doubtful accounts and returns. Sales for the period rose 4.6 percent to $167.9 million from $160.5 million a year ago. Overall, for the full fiscal year, Blair’s profits more than doubled, gaining 105.9 percent to $19.1 million, or $2.38. Last year, the company recorded earnings of $9.3 million, or $1.17. Sales slipped 2.1 percent to $568.5 million from $580.7 million. In a statement, chief executive Bryan Flanagan attributed the increased earnings to gross margin expansion driven by reduced costs.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye