NO WHERE TO GO FOR FASHION: Julian Seeherman, chairman of Venture Stores, told shareholders the lack of direction in fashion is hampering apparel sales. "Any clothing is appropriate now. There is no uniform...
NO WHERE TO GO FOR FASHION: Julian Seeherman, chairman of Venture Stores, told shareholders the lack of direction in fashion is hampering apparel sales. "Any clothing is appropriate now. There is no uniform anymore," Seeherman said following last week's annual meeting in St. Louis. Seeherman said Venture's business was below expectations during the Easter season and throughout April. Women's, children's and footwear were weak, he noted, while hardlines were running "a little stronger." Venture is reducing space for unproductive categories, including hardware, paint and automotive, and will give that space to domestics, health and beauty care and household chemicals. Venture expects to add five stores in 1995, all in Texas, and five stores per year for the next few years, Seeherman said.
PUSHING PRIVATE LABEL: In a move aimed at expanding private label, Bradlees Inc. has named Carol Reed vice president, overseeing product development and private label, a new post. Reed, who joined Bradlees in 1991 as manager of product development.
KMART PROMOTION: Barbara J. Firment, who was director of Kmart's fashion advertising, has been named divisional vice president of advertising, a new post. She will be responsible for the newspaper insert program, the discounter's key promotional vehicle. Firment reports to Jerry Habeck, vice president of advertising. Her previous position has not been filled. Kmart also named Andy Giancamilli vice president and general merchandise manager, consumables and commodities. He joined Kmart in March as vice president of pharmacy merchandising and operations. Giancamilli is responsible for consumables, health and beauty care and pharmacy.
MAKE ROOM FOR WAL-MART: Wal-Mart, which entered Canada with last year's acquisition of 122 stores from Woolco, expects to open at least five additional Canadian units next year, three in Ontario and two in Quebec. The units will anchor new shopping centers developed by First Professional Management Group Inc.
GOODY'S BAD QUARTER : Goody's Family Clothing Inc. said first-quarter earnings dropped 17.9 percent to $2.3 million, or 14 cents a share, from $2.8 million, or 17 cents. For the three months ended April 29, sales jumped 16.6 percent to $144.9 million from $124.3 million. Goody's has made progress in implementing new merchandising strategies, but the transition hurt first-quarter margins, Robert M. Goodfriend, chairman and chief executive officer, said in a statement. The transition should be completed in the second half of the year, he said. The 174-unit Goody's plans to open 11 stores this year.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion