In Brief: Kohl’s May Sales … East Heads West … Dress Barn Case
KOHL'S MAY SALES: Kohl's Corp. said Tuesday that sales for the four-week period ended May 28 rose 10.2 percent compared with the same four-week period a year ago. On a same-store basis, sales inched up just 0.2 percent. The retailer...
KOHL'S MAY SALES: Kohl's Corp. said Tuesday that sales for the four-week period ended May 28 rose 10.2 percent compared with the same four-week period a year ago. On a same-store basis, sales inched up just 0.2 percent. The retailer said sales were disclosed earlier than usual because of an upcoming company presentation at an analyst conference. Larry Montgomery, Kohl's chairman and chief executive, said in a statement, "May's sales performance was in line with our expectations. We continue to expect a comparable store sales increase for the second quarter of 4 percent to 5 percent and remain comfortable with our previous earnings guidance of 49 [cents] to 52 [cents] a diluted share for the second quarter."
EAST HEADS WEST: Japanese designer Yohji Yamamoto said Tuesday that he plans to open a New York showroom later this month at 134 Spring Street in a bid to build wholesale volume in the U.S. Also, as expected, Yamamoto said he would introduce a line of tailored men's wear at Pitti Uomo in Florence June 22-25 for spring-summer 2006 retailing. The moves are part of a strategy by Yamamoto chief executive Keizo Tamoto to expand the label into new niches and build volume by making collections more accessible to retailers.
DRESS BARN CASE: Dress Barn Inc. said Tuesday that the Connecticut Supreme Court reversed a $32 million judgment against the company. The 2003 judgment stemmed from an alleged breach of contract related to a failed negotiation for an acquisition. "We have always believed that this lawsuit was without merit, and we are gratified that the highest court in the State of Connecticut has reversed the judgment," said David R. Jaffe, president and chief executive officer of Suffern, N.Y.-based Dress Barn, in a statement. Dress Barn is to release its fiscal third-quarter financial results today.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)