• 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.
@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)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia