Rating agency Standard & Poor’s upgraded Liz Claiborne Inc.’s corporate credit rating to “B” from “B-minus” and removed the ratings from CreditWatch. The agency said the outlook is stable.
Claiborne, which plans to change its name to Fifth & Pacific Cos. in May, sold off a number of assets last year, including the Liz Claiborne brand and a majority of its Mexx business, and used the money raised to pay down debt.
The agency expects Claiborne’s profitability and cash flow generation to improve now that it has eliminated the operating losses associated with the Mexx brand.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styled by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)