Shrinking profit margins, negative comparable-store sales and an empty corner office added up to a debt downgrade for Barneys New York on Monday.
Moody’s Investors Service cut the retailer’s corporate family and probability of default ratings to “Caa1” from “B3” on Monday. Barneys’senior secured term loan was also downgraded to “Caa1” from “B3.” About $280 million in debt is covered by the ratings, which have a negative outlook.
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?"