In a regulatory filing with the Securities and Exchange Commission on Friday, J. Crew Group reported Millard “Mickey” Drexler, chairman and ceo, earned total compensation of $1.9 million last year, down from $2.8 million in 2007.
Drexler’s $200,000 salary remained the same as the previous year. Although his stock and option awards rose 60.7 percent, to $1.7 million from $1 million in 2007, he and the other listed J. Crew executives received no bonuses in 2008, because the company failed to meet designated performance goals. Drexler collected a $1.5 million bonus in 2007 and $1.6 million in 2006.
Drexler received $14,900 in other compensation, a 40.9 percent decline over the previous year.
Total compensation for Tracy Gardner, president of the retail and direct divisions, shrank 24.8 percent, to $1.9 million, but her salary rose 5.3 percent to $720,700. Gardner’s stock and option rewards also increased 20.9 percent to $1.2 million.
Libby Wadle, executive vice president of the factory and Madewell divisions, had a 15.3 percent dip in total compensation to $958,717, but she earned an 18.2 percent bump in salary, which amounted to $462,000. Wadle’s stock and option awards totaled $488,018, a 38.7 percent jump over the prior year.
For the year, the retailer’s profits fell 44 percent to $54.1 million, or 85 cents a share, from $97.1 million, or $1.52 a share, a year ago. Revenues grew 7 percent to $1.4 billion from $1.3 billion in 2007.
Stock and option awards are reported based on SEC accounting guidelines. Because of vesting schedules and falling share prices, the compensation reported in these categories was not necessarily realized.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)