• STEVE & BARRY’S DELAYED AGAIN: There’s no deal yet for Steve & Barry’s. The creditors and the bankrupt retailer wrangled into the night Thursday over a proposed sale to BHY S&B Holdings LLC, a newly formed affiliate of investment firms Bay Harbour Management and York Capital Management. At 8 p.m., the parties agreed to spend another night hammering out a deal to satisfy the concerns of Manhattan federal bankruptcy court judge Allen Gropper.
• WAL-MART SETTLES: Wal-Mart Stores Inc. on Thursday said it reached a settlement with Tom Coughlin, a former vice chairman, who resigned in 2005. The settlement allowed the retail giant to avoid a civil trial on the day it was scheduled to begin. According to a form 8-K report that Wal-Mart filed Thursday with the Securities and Exchange Commission, Coughlin will forego all outstanding rights and claims under his retirement agreement, as well as any additional unpaid or withheld benefits under the company’s retirement and other benefit plans, the total of which is estimated to be about $17 million, not including health benefits. Wal-Mart agreed to pay Coughlin $6.75 million. Coughlin resigned from Wal-Mart after an internal investigation into improper use of gift cards and other expenses in which the company accused him of misappropriating some $500,000. He subsequently admitted to stealing thousands of dollars from the retail giant and, in January 2006, pleaded guilty to federal charges of wire fraud and tax evasion. He was sentenced to 27 months of home detention plus five years probation. He also was ordered to complete 1,500 hours of community service and pay $400,000 in restitution. Wal-Mart filed a suit against Coughlin in an effort to void his retirement agreement. Coughlin filed a countersuit, but dropped one of his three claims on Monday. • NIKE PROMOTES SPRUNK: Eric Sprunk, vice president of global footwear for Nike Inc., has been named vice president for product, a new position. Based in Beaverton, Ore., Sprunk will report to Charlie Denson, president of the Nike brand. Sprunk, 44, joined Nike in 1993 as finance director for the Americas region. During his 15-year career, Sprunk has held several financial and general management jobs. Jan Singer, 44, will succeed Sprunk. Singer joined Nike in 2004 and had been vice president of footwear sport culture.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)