- MACY'S DEBT: Macy's Inc. priced $350 million of senior notes Wednesday. The notes are due in 2013 and carry an annual interest rate of 5.875 percent. The transaction is expected to close either later this week or next week. The money raised by the offering will be used to repay funds borrowed by Macy's under its commercial paper facility for general corporate operations and normal working capital needs, according to a company statement. Banc of America Securities, Credit Suisse Securities and J.P. Morgan Securities are acting together as book-running managers.
- GAP CFO OUT: Byron Pollitt, chief financial officer at Gap Inc., will leave his post Sept. 14 for the same title at Visa Inc. Six-year Gap veteran Sabrina Simmons will serve as acting chief financial officer. Gap is not conducting a formal search for a permanent cfo, but a spokesperson did not rule out that Simmons' appointment could be permanent, noting Glenn Murphy, chief executive officer, has been with the Gap for just one month. "They are just getting acquainted," said the spokesperson of Simmons and Murphy, who will be in a better position to make a decision for a permanent replacement after more time with the company.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"