- SLIM UPS SAKS STAKE: Billionaire Carlos Slim Helú said in a Securities and Exchange Commission filing Wednesday that his stake in Saks Inc. was 9.4 percent, which compares with a 7.9 percent holding reported earlier this month. Last month, Jennison Associates LLC, an affiliate of Prudential Financial Inc., said in an SEC filing that it amassed a 10.9 percent stake in Saks, up from a 7.9 percent stake in the company. Marsico Capital Management reported to the SEC last Friday that, by the end of January, it had upped its stake in the retailer to 16.4 percent. The fund held 10.4 percent of Saks a year earlier.
- RETAIL FALLS: The S&P Retail Index dropped 2.8 percent to 395.26 Thursday after Federal Reserve Chairman Ben Bernanke said the economy will continue to be sluggish. The Dow Jones Industrial Average shed 1.4 percent to 12,376.98, while the broader S&P 500 sank 1.3 percent to 1,348.86. Liz Claiborne Inc. and Jones Apparel Group Inc. made the New York Stock Exchange's list of biggest decliners, falling 18.4 percent and 9.9 percent, respectively. Liz Claiborne closed at $18.31, while Jones ended the day at $15.45. Other notable decliners included Ann Taylor Stores, which closed down 5.4 percent to $24.44; Charming Shoppes Inc., sliding 8.1 percent to $4.32, and Citi Trends Inc., which plummeted 12 percent to $15.03.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive
For @simonerocha_‘s fall show, hairstylist @jamespecis created a look inspired by the painter John Constable. Models’ hair was pulled back, tied into knots and topped off with a bow. (📷: @kukukuba) #wwdbeauty #lfw
Queen Elizabeth made a surprise appearance at @richardquinn1's London Fashion Week show to present the designer with the inaugural Queen Elizabeth II Award for British Design. The new award will be handed out annually to an emerging British fashion designer who shows exceptional talent, while demonstrating value to the community and sustainable policies. #wwdfashion #lfw (📷: @giovanni_giannoni_photo)