Karen Hoguet, Macy’s Inc.’s chief financial officer since 1997, has decided to retire in February 2019, at the end of the firm's fiscal year.Among the industry’s more respected financial executives, Hoguet was a close adviser to Macy’s chief executives during her tenure and instrumental in major strategic moves by the company. She was a key player in the merger of Federated into Macy’s in 1994, the merger of May Department Stores into Macy’s in 2005, and the sale of the retailer’s credit portfolio to Citibank in 2005.[caption id="attachment_1202644032" align="aligncenter" width="483"] Karen Hoguet[/caption]"For the past three decades, Karen has had a voice in almost every major decision at Macy’s and its predecessor, Federated Department Stores,” said Jeff Gennette, Macy’s chairman and chief executive officer, on Wednesday.Gennette characterized Hoguet, who is 61, as a “steady and strategic hand in the cfo’s seat who knew the company inside and out.” She was also particularly adept at fielding inquiries from the media, investors and Wall Street analysts and always maintained composure during sometimes challenging exchanges.Macy’s will conduct an external search for Hoguet’s successor and when one is found, there will be a period of transition.Hoguet left the Boston Consulting Group to join Federated in 1982 in marketing and long-range planning. She had several promotions and ultimately became a corporate vice president and senior vice president of planning in 1991. She became Macy’s cfo in 1997.Over the past year, Macy’s has seen sweeping change in its senior executives, including Gennette, who became ceo in March 2017. In September, Hal Lawton was named president; John Harper became chief stores officer; Robert Harrison became chief operating officer, and Jeffrey Kantor became chief merchandising officer. Also, Cheryl Heinonen became executive vice president of communications in January 2017, among other senior-level changes.Hoguet received total compensation in 2017 of $4.66 million, including $900,000 in salary, $1.86 million in stock, $566,000 in options and $952,100 in non-equity incentives. Gennette received just over $11 million in total compensation, including $1.2 million in salary, $3.9 million in stock, $2.6 million in options and almost $3 million in non-equity incentives. Lawton received total compensation of $18.3 million, including $397,727 in salary, a $5.5 million bonus, $6.3 million in stock, $3.99 million in options and $734,000 in non-equity incentives. Former ceo and chairman Terry J. Lundgren received $8.1 million in total compensation, including $1.1 million in salary, $2.87 million in stock, $1.89 million in options and $2.1 million in non-equity incentives.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)