Checkout: Ward’s Buys Lechmere … Blue Ribbon … Blue Christmas
WARD'S BUYS LECHMERE: Montgomery Ward has agreed to acquire Lechmere Inc., a chain of 24 hard-goods stores based in Wobern, Mass. Terms were not disclosed. Lechmere had total sales of $800 million last year and will...
WARD'S BUYS LECHMERE: Montgomery Ward has agreed to acquire Lechmere Inc., a chain of 24 hard-goods stores based in Wobern, Mass. Terms were not disclosed. Lechmere had total sales of $800 million last year and will continue to operate as a separate division under its own name. Four new stores are planned this year.
BLUE RIBBON: Target Stores took top honors in the Retail Advertising and Marketing Association's annual advertising contest.
At the Retail Advertising Conference last week in Chicago, the Minneapolis-based discount chain won Best of Show for its multimedia campaign heralding the simultaneous opening of 11 Target Greatland Stores in the Chicago area last spring.
The campaign included animated billboards, a "radio roadblock" -- running the same commercial simultaneously on all Chicago stations -- and many celebrity endorsements.
Target was also given a special merit citation for a public service campaign supporting preservation of national parks and featuring Vice President Al Gore and Robert Redford.
The chain's vice president of marketing, Bob Thacker, was elected to the Retail Advertising Hall of Fame.
J.C. Penney was also honored, winning the Newspaper Association of America's Retail Partnership Award for taking a leading role in using newspapers.
BLUE CHRISTMAS: Bruised by lower than expected sales at its Christmas stores and the California earthquake, Mac Frugal's Bargains-Close-outs Inc. said per-share earnings for the year ended Jan. 30 will be dragged down by 16 cents. The company still expects to post a profit for the year, but its numbers won't be released for a few weeks.
Phil Carter, executive vice president and chief financial officer of the Dominguez, Calif., chain, said the analysts' earnings estimate range before the announcement had been between $1.25 and $1.32 per share.
Mac Frugal's had projected sales of $200,000 per store and a 15 percent pretax contribution, or about $30,000, from its 165 stores open only during the Christmas season. Instead, it generated about $160,000 per store and a pretax contribution of only 1 percent. The company attributed the earnings shortfall of 10 cents a share to lower sales and lower than expected gross margins.The company also said it will take a pretax charge of $3 million, or 6 cents a share, in the fourth quarter to account for damage from the Los Angeles earthquake, which affected 30 stores.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty