NEW YORK — Moody’s Investors Service took Guess’ $80 million in debt down a notch Wednesday based on continuing weakness in the apparel company’s wholesale division.
"The ratings recognize concerns about Guess’ near-term financial performance following news of a steep reduction in wholesale revenues for the fourth quarter of 2002 and reduced guidance for the full year," Moody’s said. In the third quarter ended Sept. 28, wholesale revenues receded 24 percent to $50.7 million.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"