SHARES SLAMMED: Shares of The Talbots Inc. and Ann Taylor Stores Corp. dropped in Thursday trading after both were downgraded by Wall Street analysts. On Wednesday, Talbots warned September same-store sales would be in the negative low single...
SHARES SLAMMED: Shares of The Talbots Inc. and Ann Taylor Stores Corp. dropped in Thursday trading after both were downgraded by Wall Street analysts. On Wednesday, Talbots warned September same-store sales would be in the negative low single digits and third-quarter earnings would be 45 cents to 50 cents a share, below last year’s 60 cents. The stock was subsequently downgraded by Piper Jaffray & Co. to “Market Perform” from “Outperform” on Thursday, and quarterly earnings estimates on the company were cut at Piper Jaffray, SG Cowen & Co. and Citigroup Smith Barney. Piper Jaffray said Talbots is “losing footing in full-price selling.” Shares of Ann Taylor also fell after Banc of America Securities cut its investment rating to “Neutral” from “Buy” and reduced EPS estimates. The brokerage said “the Ann Taylor division is struggling on the top line and, combined with high inventory levels, is leading to a higher degree of markdowns.” Talbots shares closed Thursday off 9.2 percent at $24.79, while Ann Taylor shares ended the session at $23.40, down 4.8 percent.
MERCEDES BID: Saks Fifth Avenue and Mercedes-Benz USA have teamed up to offer a holiday gift package featuring the new 2006 Mercedes-Benz CLS500. All proceeds from the sale of the package will benefit Reading Is Fundamental, the nation’s leading children’s literacy organization. Saks’ holiday catalogue will feature the opportunity to bid on the Mercedes CLS500. Bidding, which begins at $75,000, takes place Nov. 1 to Nov. 11. The package includes a custom-designed European Delivery Rally Tour, which begins once the winner picks up his or her Mercedes at the factory in Sindelfingen, Germany. A self-guided, six-day tour, which includes first-class airfare and hotel accommodations for two, goes through Germany’s Black Forest region, the Austrian Alps and ends in Munich. After the tour, the car will be transported back to the U.S., with its trunk packed with such goodies as a Louis Vuitton Keepall duffel; a CSX Diamond Chronograph by Michelle Watch; a Jimmy Choo Classic Hobo bag, and Cole Haan sherling boots.
@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)