NEW YORK -- In the midst of a $240 million effort to buy Italy's GFT SpA, first quarter earnings and sales at Plaid Clothing Group were down sharply.
A report sent to Plaid bondholders and filed with the Securities and Exchange Commission, said net income for the quarter ended April 3 fell 72 percent to $746,000 from $2.7 million. Sales fell 13.4 percent to $72.7 million.
Management said the year-ago quarter was especially strong while the latest quarter was hurt by a poor retail environment and bad weather. Plaid bonds, which are rarely traded, are quoted at 95 to 96 cents on the dollar. In March, Plaid signed a letter of intent to acquire GFT, but the acquisition has been moving slowly. A deadline for a definitive agreement was set for May 15, and the deal was scheduled to be completed by June 30. The May 15 deadline was extended to July 15.
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive