PVH Corp. affirmed its existing fourth-quarter and full-year guidance for sales and profits as it sought to amend its credit facility in order to redeem $600 million in senior notes due in 2020.PVH said it is seeking to amend the credit facility in which it entered last February, as it completed its acquisition of Warnaco Group, and realize at least $600 million in cash proceeds by doing so. The funds, along with cash on hand, would be used to redeem the senior notes, which carry interest of 7.375 percent. PVH hopes to close on the transaction by the end of March and lower its interest expense for fiscal 2014 and beyond.In entering into negotiations about the credit facility, PVH held to its most recent projections for the recently completed fiscal year. In January, PVH affirmed its guidance for fourth-quarter earnings of $1.40 and full-year earnings of $7 a diluted share for the periods ended Feb. 2. However, it lowered its revenue guidance to $2.06 billion, from $2.08 billion, for the quarter and $8.22 billion, from $8.24 billion, for the year. Its initial guidance came as it reported third-quarter results on Dec. 9.PVH said that it repaid $500 million of its term loans under its credit facility during fiscal 2013, above the $400 million anticipated.PVH owns the Calvin Klein, Tommy Hilfiger, Van Heusen and Izod trademarks and markets apparel under a series of other owned and licensed marks.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim