- S&P DOWNGRADES LIZ: Standard & Poor's revised its credit rating on Liz Claiborne Inc. to "BB" from "BBB," pushing the firm's debt rating down into speculative or "junk bond" territory. Such ratings gauge how likely a company is to pay back its debt. "An obligation rated 'BB' is less vulnerable to nonpayment than other speculative issues," according to the S&P ratings definitions. "However, it faces major ongoing uncertainties or exposure to adverse business, financial or economic conditions." The company declined comment on the rating change.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)