Perry Ellis International Inc. led all components of the WWD Global Stock Tracker today as shares of the company gained on a report of a possible sale of the firm.
Shares finished the day at $20.73, up 7.9 percent. The Deal said that the Miami-based sportswear firm might be being prepared for a sale by the Feldenkreis family, which holds about one-sixth of its common shares.
Activist investors Legion Partners last month took a 6 percent stake in the firm and said it was in discussions with management about improving its balance sheet and taking other steps, such as separating the roles of chairman and chief executive officer, both of which are currently held by George Feldenkreis. Oscar Feldenkreis, George’s son, is vice chairman, president and chief operating officer. Calls seeking comment from the firm weren’t returned.
The WWD tracker gained ground for the second consecutive day after five straight sessions with declines, ending at 97.69, up 0.4 percent, from its 97.33 close on Tuesday.
Among other leaders on the Tracker were American Apparel Inc., up 7.3 percent to 92 cents; Anta Sports Products Ltd., up 5.2 percent to 14.24 Hong Kong dollars, or $1.84 at current exchange; Ann Inc., up 3.6 percent to $38.04, and Lululemon Athletica Inc. and Tumi Holdings Inc., both of which rose 3.3 percent, to $39.97 and $22.25, respectively.
Shares of Ralph Lauren Corp. rose 0.2 percent to $156.88 after the New York-based company reported a decline in first-quarter net income of 10.5 percent, less than Wall Street analysts, on average, had expected.
Among the firms monitored by WWD losing the most ground were Express Inc., down 4 percent to $14.84; Yoox.com, down 3.6 percent to 17.45 euros, or $23.42; Pandora A/S, down 3.1 percent to 375.50 Danish kroner, or $67.60, Safilo Group SpA, down 3 percent to 14.98 euros, or $20.11, and Debenhams Plc and Hugo Boss AG, both of which were off 2 percent. Debenhams closed at 66 pence, or $1.11, while Boss concluded the session at 103.10 euros, or $138.38.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion