VF Corp. chief executive officer Eric Wiseman registered a 14 percent increase in his 2011 compensation as the cash portion of his pay grew faster than his stock and option awards.According to VF’s definitive proxy, filed with the Securities and Exchange Commission Wednesday, Wiseman, chairman, president and ceo of the Greensboro, N.C.-based jeans and sportswear giant, earned total compensation of $10.6 million in 2011, up from $9.3 million in 2010. While his salary rose 7.3 percent to $1.1 million, from just over $1 million, his nonequity incentive plan compensation grew 15 percent to $2.5 million from $2.1 million. His stock and option awards expanded less rapidly, coming in at $4.9 million, 5.6 percent above the $4.6 million reported for 2010. Because of vesting schedules and fluctuating stock prices, stock and option awards aren’t necessarily realized by the executives receiving them, but the SEC requires that they be reported at “fair market value” for the periods in which they were earned.The VF ceo’s reported compensation was also boosted by a 45.2 percent increase, to $2.1 million from $1.5 million, from changes in the value of his pension and deferred compensation earnings, an actuarial adjustment the SEC also requires public companies to record.VF, which last September acquired The Timberland Co. for $2.3 billion, met or surpassed the performance targets set by the compensation committee of its board for both Wiseman and Robert Shearer, senior vice president and chief financial officer. Adjusted earnings per share rose 27 percent, comfortably above the 9.9 percent target, while gross margin declined 90 basis points, matching the target, and cash flow was $1.08 billion, just above the $1 billion goal. Net revenues excluding Timberland rose 14 percent versus a target of a 6.5 percent organic increase. Overall, net income grew 55.4 percent to $888.1 million on a 22.8 percent spike in revenues to $9.46 billion.Shearer’s total compensation contracted 19.4 percent, to $3.6 million, on a decline in stock and option awards.
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
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)