DEAL COMPLETE: Christopher & Banks Corp. said Monday after the stock market closed that it has completed the acquisition of 21 Acorn stores from Gilmore Brothers Inc. for $7 million in cash. The Acorn stores, located in nine states, sell...
DEAL COMPLETE: Christopher & Banks Corp. said Monday after the stock market closed that it has completed the acquisition of 21 Acorn stores from Gilmore Brothers Inc. for $7 million in cash. The Acorn stores, located in nine states, sell women’s apparel, jewelry and accessories under private and branded labels. “Acorn provides us a differentiated yet complementary retail concept, which will enhance our strategic growth plans by allowing us to reach a more upscale customer demographic,” said Bill Prange, chief executive officer of Christopher & Banks, in a statement. The company first said it signed a definitive agreement to acquire Acorn on Sept. 28. At that time, management anticipated the acquisition would add $3.5 million in revenues in the fourth quarter and be dilutive to fourth-quarter earnings by 1 cent a share. Minneapolis-based Christopher & Banks currently operates 463 Christopher & Banks and 150 C.J. Banks women’s specialty stores.
THREADGILL JOINS TROPICAL: Ronald Threadgill has joined Tropical Sportswear International as senior vice president of global logistics, with responsibility for planning, purchasing and sourcing. He takes over many of the duties previously handled by Frank Maccarrone, who left Tropical as executive vice president and chief operating officer last month. Threadgill comes to Tropical from Levi Strauss & Co., where his last post was director of sourcing for the launch of Levi Strauss Signature and director of manufacturing operations for Levi’s operations in the Western Hemisphere.
WELLMAN’S POLY PRICING: Wellman Inc. plans to raise by 6 cents the price of a pound of its polyester staple fiber products — used in apparel, home furnishings and other goods — by Jan. 2. The rise will come in two waves, with a 3 cent price bump applied to Nov. 28 shipments and another 3 cent upswing for the petroleum-based fiber kicking in for the new year. “Polyester raw material costs continue to rise on a monthly basis, setting new record highs,” Joe Tucker, vice president of the fibers and recycled products group, said in a statement. “The industry has also experienced sharp increases in energy costs. These two increases are necessary to offset these raw material and energy cost increases.”GADZOOKS GETS LOAN: Bankrupt teen-girl retailer Gadzooks has secured a $5 million Tranche B term loan from Gryphon Master Fund LP, following approval from a Texas U.S. bankruptcy court. The loan will provide “seasonal borrowing capacity” for the company’s bid to dig out from bankruptcy by the first half of 2005, the retailer said in a statement. The company also said plans for reorganization had been approved by its committee of unsecured creditors, the committee of equity holders and Gryphon. According to the company, the plan for reorganization will be filed with the court by Saturday.
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