ARCANDOR NET FALLS: In its short 2007 financial year, spanning the first nine months of 2007, taxes and write-offs for divisions it no longer owns drastically reduced net profits 96 percent for Arcandor AG, while unadjusted earnings before interest, taxes, depreciation and amortization improved 15.1 percent. In final figures released Wednesday, net profits for Arcandor, the renamed holding company of the former KarstadtQuelle AG, fell to 16.3 million euros, or $21.9 million at average exchange, from 479 million euros, or $644 million, in the prior year, while EBITDA climbed to 1.2 billion euros, or $1.57 billion, from 1 billion euros, or $1.37 billion. Adjusted group sales for the nine months rose 72 percent to 14.3 billion euros, or $19.2 billion. Arcandor confirmed its earnings and revenues forecast for fiscal 2008-09, calling for sales of 23 billion euros, or $34 billion, EBITDA of 1.3 billion euros, or $1.9 billion, and in a first-ever EBIT forecast, operative earnings of 850 million euros, or $1.3 billion.
SELECTIVE EYEWEAR TAPS PRESIDENT: Selective Eyewear Elements, which operates the SEE eyewear chain, based in Southfield, Mich., has named David Desjardins as president. Desjardins will report to chief executive officer Richard Golden, who also had held the president's title, and will be responsible for overseeing field and internal operations for the company. Most recently, Desjardins was chief stores officer for Delia's Inc. There are 20 SEE stores nationwide and the company plans to open 100 units in the next five years.
GANT SUSPENDED: Gant shares were suspended from trading Wednesday in Stockholm pending a statement from the stock exchange. Swiss retailer Maus Frères last month mounted a hostile takeover bid for the Swedish sportswear company. Both Maus and Gant declined to comment. Maus is now the biggest single shareholder in Gant with over 35 percent.
CURRIE TO TAHARI: Elie Tahari Ltd. tapped Scott Currie as vice president of communications, effective Feb. 18. He will join from Susan Magrino Agency, where he worked for the past seven years, most recently as executive vice president. At Tahari, Currie will be in charge of the communications efforts for the Elie Tahari collection, including women's wear, men's wear and accessories. He also will oversee the personal public relations for Elie and Rory Tahari, who are the company's chairman and vice chairman and creative director, respectively. Currie will report to both Elie and Rory Tahari.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)