Ann Inc.’s Kay Krill saw her total compensation climb 4.5 percent last year, to $10.8 million, as an increase in her stock and option awards more than erased a decline in her cash bonus.With salaries for top executives frozen for the third consecutive year, Krill, president and chief executive officer of the New York-based specialty retailer, had her base pay remain at $1.2 million while her nonequity incentive plan compensation fell 8.4 percent to $4.7 million from $5.2 million in 2010. Offsetting that decline, her stock and option awards rose 20.2 percent to $4.7 million from $3.9 million. In the company’s definitive proxy filed with the Securities and Exchange Commission Wednesday, she recorded an 86.3 percent leap in change in pension value and nonqualified deferred compensation, to $56,000, and a sixfold increase in other compensation, including almost $73,000 in nonqualified deferred compensation contributions made by the company, to $99,000.Ann’s proxy also showed total compensation for Gary Muto, president of the Loft brand, declining 16.7 percent to $4 million last year, while the pay package of Christine Beauchamp, who exited the firm as president of the Ann Taylor brand at the end of the fiscal year, was off 34.7 percent to $3.2 million. Brian Lynch, who succeeded Beauchamp as Ann Taylor president, earned $4.4 million, down 3.3 percent. He was previously president of the firm’s outlet stores and headed its e-commerce efforts.Beauchamp will receive $1.3 million in severance payments over the course of the current year, equaling 18 months of her salary and health benefits. Her annual salary was $800,000.Companies are required to report stock and option awards at “fair market value” for the periods in which they are granted even though, because of vesting schedules and fluctuating stock prices, they aren’t necessarily realized by the executives cited.While Ann’s 2011 profits rose 18 percent, markdown and inventory issues contributed to a 72.6 percent decline in fourth-quarter net income despite a 5.3 percent increase in comparable sales, including same-store and e-commerce revenues. Comps at Ann Taylor stores were off 1.2 percent. According to the proxy, corporate earnings in the back half of the year were “slightly above” the minimum profit threshold as “the Loft division exceeded its minimum divisional contribution margin target and the Ann Taylor division failed to achieve its minimum threshold divisional contribution margin target. Accordingly, each of our named executive officers earned amounts significantly below target for fall 2011 performance."
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