STAGE PRESENCE: In a month when comp “misses” outnumbered “beats” by a 2-to-1 margin, no retail company even came close to the upside surprise or double-digit performance of Stage Stores Inc. The Houston-based firm pounded out a 13.2 percent increase for the month, including more than 20 percent growth during the week of Thanksgiving. While generally insulated from the impact of Hurricane Sandy, it was hardly immune. It had to permanently close its Peebles store in Ventnor City, N.J., on the Jersey shore near Atlantic City, and, of its total of 865 stores, 54 others were closed for between one and three days. The company had comp increases in every one of the month’s four weeks and the week Sandy arrived “actually turned out to be a good week for us, with comps up about 10 percent,” said Bob Aronson, vice president of investor relations. For the month, even its Peebles stores in the Northeast, which account for just 3 percent of sales, realized a pickup of more than 10 percent. Stage’s comp increases have grown in every quarter of the year, culminating in an 8.1 percent gain in the third quarter.
KOHL’S AS ICE: Conversely, Kohl’s Corp. suffered both the worst comp of the month — down 5.6 percent — and the biggest miss relative to Thomson Reuter’s expectations — estimates called for a 1.9 point increase. Working hard to put the best face on a dismal performance, Kohl’s chief executive officer Kevin Mansell noted that sales picked up toward the end of the month, especially in its e-commerce channel. Most of the online volume, however, will be recognized in December. RELATED STORY: Sandy Takes Toll on November Comps >>
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion