In Brief: Bill To Expand Job Program… Card Back As Jones CFO… New Stock Moniker…
Ten North Carolina Republican and Democratic representatives introduced a bill Wednesday that amends the Trade Adjustment Assistance program to provide automatic eligibility for textile and apparel workers who lose their jobs when their...
BILL TO EXPAND JOB PROGRAM: Ten North Carolina Republican and Democratic representatives introduced a bill Wednesday that amends the Trade Adjustment Assistance program to provide automatic eligibility for textile and apparel workers who lose their jobs when their companies close because of foreign trade. The bill also expands the program, which is administered by the Department of Labor, to include dislocated workers whose companies shift production to nations such as China that don't have preferential trade agreements with the U.S. The bill increases the health care-coverage tax credit to 80 percent from 65 percent for eligible workers and boosts funding authorization to $440 million from $220 million. The current TAA authorization expires at the end of September, and Congress must reauthorize it.
CARD BACK AS JONES CFO: Jones Apparel Group Inc. has reinstituted Wesley R. Card as chief financial officer. Card succeeds Thimio Sotos, who resigned to pursue other opportunities. Card, 59, served as cfo from 1990 to March 2006. He will also continue as chief operating officer, a post he has held since 2002. He still reports to chief executive officer Peter Boneparth. "Wes was an exceptional cfo for Jones during the 15 years he held that position, and we are pleased to welcome him back to that role," Boneparth said.
NEW STOCK MONIKER: Federated Department Stores said it will trade under the ticker symbol "M" on the New York Stock Exchange beginning June 1, provided shareholders approve of the company's planned name change to Macy's Inc. The company's board said Wednesday that it will ask shareholders at the firm's annual meeting on May 18 to approve a corporate name change to Macy's Inc., instead of Macy's Group Inc., as previously announced. Shares of Federated have traded under the ticker symbol "FD" since 1992.
ACTIVE GAINS: Michael Ashley, the founder of one of the largest U.K. sporting goods retailers, Sports Direct, has purchased a 3.14 percent stake in Adidas. Under German law, shareholding must be disclosed after ownership exceeds 3 percent. Ashley off-loaded a 43 percent stake in Sports Direct when it made its debut on the London Stock Exchange last month.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
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