NO GRAVY FOR TURKEY: The White House reconfirmed Thursday that it is no longer offering Turkey a multibillion dollar economic aid package, despite a vote by Turkey’s parliament to allow the U.S. to use its air space in the war against Iraq. White...
NO GRAVY FOR TURKEY: The White House reconfirmed Thursday that it is no longer offering Turkey a multibillion dollar economic aid package, despite a vote by Turkey’s parliament to allow the U.S. to use its air space in the war against Iraq. White House Press Secretary Ari Fleischer reiterated at a news conference that Turkey will not receive the aid package, which included textile and apparel trade breaks, because it was contingent on "total cooperation," which he said "did not happen." The Bush administration made the package contingent on Turkey allowing the U.S. to deploy thousands of combat troops for a northern front in the war. However, Turkey denied the U.S. permission in a vote two weeks ago and indefinitely postponed another vote on the issue.
GALERIES NUMBERS: Achieving a target it set last year for double-digit profit growth, French retail group Galeries Lafayette on Thursday reported a 30.3 percent increase in net income to $88.9 million, up from $68.2 million last year. However, operating income declined 8.4 percent to $95.7 million, versus $104.4 million in 2001. Sales for the group increased 4.6 percent to $5.79 billion, compared with $5.53 billion last year. Dollar figures are converted from the euro at current exchange rates. Galeries Lafayette operates about 100 department stores under the Galeries Lafayette, Nouvelles Galeries and BHV banners, as well as the Monoprix grocery and variety chain. The company did not provide projections for 2003 due to the uncertainty of world affairs. "In the mid- and long-term, we remain very confident [in] the group’s fundamentals and its ability to create value," said Philippe Houze and Philippe Lemoine, the firm’s co-chairmen.
HELP FOR KMART WORKERS: The U.S. Department of Labor announced Thursday that bankrupt Kmart Corp. has requested help for its laid-off workers to find their way back into the workforce. As reported, Kmart plans to close more than 300 underperforming stores nationwide as part of its Chapter 11 reorganization, affecting an estimated 37,000 employees. The DOL said it provided Kmart with a variety of services and information about training assistance, pension benefits and unemployment insurance.Kmart workers were also referred to 1,900 career centers nationwide that assist employers with recruitment, training and retention of skilled workers, and job seekers. A video message outlining steps employees can take is also being broadcast to all Kmart stores nationwide.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)