In Brief: Aeropostale Buyback… Claiborne Repurchases Shares… De Sole to Rubbermaid…
Teen apparel retailer Aéropostale Inc. announced Tuesday that it will increase the company's share repurchase program by $250 million. This increase brings the total share repurchase program to $600 million.
- AEROPOSTALE BUYBACK: Teen apparel retailer Aéropostale Inc. announced Tuesday that it will increase the company's share repurchase program by $250 million. This increase brings the total share repurchase program to $600 million. The company will use a part of this authorization to implement an accelerated share repurchase program to buy back $125 million of its common shares.
-CLAIBORNE REPURCHASES SHARES: Liz Claiborne Inc.'s board authorized an additional $100 million in stock repurchase, to build shareholder value. This authorization represents approximately 4 percent of the company's current market capitalization, at Friday's closing stock price. As of Friday's market close, Claiborne had purchased approximately 105.5 million shares for approximately $2.175 billion, and had about 97.7 million shares outstanding. The last authorization was for $250 million on May 18, 2006. Repurchases will be funded through internally generated funds and available credit facilities, and shares acquired will be used for employee stock plans and other general corporate purposes. No time limit was set for the completion of the program. -DE SOLE TO RUBBERMAID: Former Gucci Group chief executive officer Domenico De Sole was elected to the board of Newell Rubbermaid Inc. De Sole is chairman of Tom Ford International, lead director of Telecom Italia SpA and director of Gap Inc. His election to Rubbermaid, which markets consumer and commercial products such as Sharpie, Paper Mate and Goody, brings the company's number of directors to 12.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)