JACK’S PAYDAY: Jack Stahl, chief executive officer of Revlon Inc., was paid $1.12 million in salary and a $1.3 million bonus in 2002. He also received restricted stock valued at $3.1 million. In addition, Stahl was given a $1.8 million loan for...
JACK’S PAYDAY: Jack Stahl, chief executive officer of Revlon Inc., was paid $1.12 million in salary and a $1.3 million bonus in 2002. He also received restricted stock valued at $3.1 million.In addition, Stahl was given a $1.8 million loan for taxes related to the secured stock and a $2 million 30-year mortgage for a new primaryhome, according to a filing with the Securities and Exchange Commission. Struggling under heavy debt, Revlon lost $286.5 million last year on sales of $1.12 billion, as reported. Stahl, former chief operating officer of Coca-Cola Co., joined Revlon in February 2002.
CHANGES ARE AFOOT AT SEARS: In a move that will entail more job losses, Sears, Roebuck & Co. is in the process of trimming the costs of its operations amid sliding profits at its credit card division and an ongoing slowdown in sales. According to sources, many of the job cuts are expected at its Hoffman Estates, Ill. headquarters, with a handful elsewhere within the organization. Executives at Sears could not be reached for comment Sunday. Financial sources said the changes in cost structure are necessary and involve all aspects of the retailer’s operations. The plans — including the tally for head count reductions — are expected to be finalized within the next two months.
“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)