– ESCADA SHARES SEESAW: Escada shares recovered Tuesday after the company denied it was about to issue its second profit warning this year. In April, Escada downwardly revised its fiscal 2007-2008 earnings expectations from low-single-digit growth in consolidated group sales and EBITDA to a high-single-digit decline in consolidated sales and a 25 percent drop in group EBITDA for the year ending Oct. 31. A report in Tuesday’s Financial Times Germany asserting that problems in Escada’s Primera division might require the company to again lower earning expectations initially sent shares tumbling 8 percent. A spokesman for the German fashion house called the FT report “highly speculative” and said the current prognosis remained valid. By the end of the day’s trading, Escada closed up 11 cents, or 0.78 percent at 14.25 euros, $22.06 at current exchange. Escada will release first-half results on June 26.
This story first appeared in the June 18, 2008 issue of WWD. Subscribe Today.
– TALBOTS’ NEW SUPPLY CHAIN POST: Gregory Poole has joined Talbots Inc. in the new position of executive vice president and chief supply chain officer. He is responsible for global manufacturing, sourcing, transportation and distribution centers at both Talbots and J. Jill, and reports to Trudy Sullivan, president and chief executive officer. Poole, former senior vice president and chief procurement officer of AnnTaylor Stores Corp., previously spent more than 13 years with Gap Inc. and has worked at Esprit de Corp. and The North Face.
– KEEPING IT ANONYMOUS: U.S. Customs & Border Patrol launched an online reporting system Tuesday for the public to anonymously report suspected trade violations. The system, called eAllegations, allows users to report things like intellectual property and quota violations. Users must submit information about the type of violation, a description of what happened, the goods involved and the name and company of the parties involved. The system will also allow for reporting misclassifications of merchandise, misleading country of origin markings, health and safety violations and other textile and trade infractions. The site is not intended for reporting security issues like terrorism.