STAGE STORES PAY: Stage Stores Inc. president and chief executive officer Andrew Hall’s total compensation grew 9.1 percent last year to $1.7 million, as former chairman and ceo James Scarborough’s total compensation dropped 37.1 percent last year, to $1.8 million. Hall, who assumed the top job on Nov. 3 after Scarborough retired, had a 6.4 percent increase in his salary to $675,000 from $634,615, according to a regulatory filing with the Securities and Exchange Commission on Wednesday. Hall’s stock and option awards were valued at $986,579 up 39.8 percent. Scarborough’s salary fell 24.7 percent, to $753,267, but he received a bonus of $500,000, up from $175,000, a year earlier, as part of his retirement. Scarborough’s stock and option awards totaled $468,321, down 57.2 percent from last year. Stock-and-option awards are reported based on SEC accounting guidelines. The compensation reported in these categories was not necessarily realized because of vesting schedules and falling share prices.

LA VIDA LOCA: Giorgio Armani SpA has shuttered indefinitely its Emporio Armani store in Buenos Aires due to Argentine trade restrictions. “[The] store is momentarily closed,” a spokeswoman said. “We have no wish to withdraw from Argentina and are working hard to find ways to continue to trade in spite of the great difficulties caused by recent restrictions on imports.” The Argentine government announced unilateral measures in November to protect local industry from rising foreign competition. These included tightening controls on licenses for importing leather goods and textiles. The Armani spokeswoman declined to say how long the unit on Avenida Alvear had been closed, although she stressed the A|X Armani Exchange boutique would remain open.

To access this article, click here to subscribe or to log in.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus