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.
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18