ZALE CLOSURES: Zale Corp. said Wednesday it will close 105 stores and cut 20 percent of its headquarters' staff to streamline operations to generate $65 million in yearly savings. The company said $5 million in savings will be realized in the fourth quarter ending July 31 from the restructuring. The Dallas-based jewelry chain said some of its planned operational initiatives, reduction of $100 million in inventory and reduced spending from $85 million in fiscal 2008 to $45 million in fiscal 2009, were announced previously. Of the 105 locations, 95 are considered underperforming and 50 are kiosks. The company, cutting 225 jobs, has already eliminated 140 filled positions and 85 open posts at headquarters. "In order to improve Zale's overall performance and provide our value-oriented customer with an exceptional experience, it is essential that we reduce the company's infrastructure costs, which have outpaced its sales growth since 2002," said Neal Goldberg, Zale's president and chief executive officer.
WET SEAL EXIT: The Wet Seal Inc. chief operating officer Gary White has resigned to become chief executive officer of United Retail Group Inc., a subsidiary of Redcats USA Inc. The company does not plan to replace White, who was hired in 2004. Ed Thomas, Wet Seal's ceo, indicated that he will assume some of White's duties and will distribute others among company managers. Wet Seal, a retailer of young women's contemporary apparel and accessories, operates 494 stores in 47 states, the District of Columbia and Puerto Rico.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion