WOLFORD WOES: Sales at luxury innerwear firm Wolford dropped 7 percent, to $61.8 million from $66.7 million, in the six months ended Oct. 31. The Bregenz, Austria-based company cited sluggish consumer spending and reorganization costs for the drop and said that, due to "strategic upgrading of the lingerie and swimwear lines," advance orders for spring/summer 2003 merchandise had increased at a double-digit rate. Sales to department stores declined 3 percent and sales to multibrand stores were off 16 percent, while sales in its own boutiques dipped 4 percent. First-half profits are due on Dec. 11.

TIFFANY EXEC RESIGNS: Tiffany & Co. said Wednesday that Linda Hanson, senior vice president of merchandising, has resigned, effective Feb. 1, 2003. Michael J. Kowalski, Tiffany’s president and chief executive officer, said in a statement that all merchandising functions will report directly to him following Hanson’s departure. Hanson, a 13-year veteran of the company, will continue to consult for the firm. "We would prefer that she remain, but she in unshaken in her resolve to effect a professional and lifestyle change," Kowalski said.

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