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.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye