WORK STOPPAGE AVERTED: A tentative agreement was reached over the weekend by the United Auto Workers covering UAW Local 174 members working at the Kmart distribution center in Canton, Mich. Details were not disclosed, pending ratification by members....
WORK STOPPAGE AVERTED: A tentative agreement was reached over the weekend by the United Auto Workers covering UAW Local 174 members working at the Kmart distribution center in Canton, Mich. Details were not disclosed, pending ratification by members. Local 174 members had been ready to strike last week. Separately, Kmart executives denied published reports that a list of specific store closures exists, and that the number is set at 567 sites. Executives insist that no decisions have been made, and denied there would be that many shut. As reported, real estate sources said last month that South Florida is among the targeted areas. Other targeted areas, those sources said, include Pennsylvania and Texas.
MAY CO. SALES SLUMP: The May Department Stores Co. reported lower preliminary net sales and same-store sales in October. For the four weeks ended Nov. 2, the St. Louis-based retailersaid overall sales fell 3.8 percent to $925.5 million from $961.7 million a year ago, as comparable-store sales dropped 7.1 percent. Net sales for the quarter also disappointed, falling 4.1 percent to $3.05 billion from $3.18 billion a year ago. For the first nine months of the year,sales dipped 1.5 percent to $9.3 billion from $9.45 billion in the year-ago period. Based on third-quarter sales, the firm anticipates diluted earnings per share of 8 to 10 cents, excluding a 2-cent charge for the previously announced division combinations and a 2-cent charge for the early redemption of 8 3/8 percent debentures during the quarter.
NOT SO GOOD: Goody’s Family Clothing Inc. last week ended negotiations for the previously announced acquisition by a private equity group. According to the retailer, the parties had differing views regarding the effect of the current retail environment on Goody’s earnings. Goody’s and the private equity group, which offered to buy the company for between $6.50 and $7.50 per share, or a premium of 37 to 58 percent, also agreed to terminate the provision in the letter of intent that called for a payment of between $2.5 million and $5 million under certain conditions as expense reimbursement.
SAMARITAINE SNARE: Union workers at Paris’ LVMH Moët Hennessy Louis Vuitton-owned Samaritaine department store planned to strike today against extended Christmas hours. The store, which is in the midst of a major overhaul, plans to stay open the week before Christmas until 9 p.m. Its doors usually close at 7 p.m., except on Thursday and Saturday, when they close at 9 and 8, respectively. Workers claim the extra hours will disrupt their family life. Paris’ other major department stores, including Galeries Lafayette and Au Printemps, plan to remain open a half-hour later than usual, until 8, the week before Christmas.
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
For @versace_official’s spring ad campaign, the brand emphasized the archival prints from the spring tribute collection dedicated to the late Gianni Versace. Closing out the show were five of Gianni’s favorite models: Cindy, Naomi, Carla, Helena, and Claudia. Bowing on December 18, the new campaign is yet another tribute to supermodel-dom as the images by Steven Meisel are fronted by @iamnaomicampbell, @cturlington, @gisele and more. #wwdfashion
Four-time Oscar-nominated actress Annette Bening has been waiting 20 years to play Gloria Graham in "Film Stars Don't Die in Liverpool," which will be released on December 29. The movie about Graham – a Hollywood star known for her controversial relationship with a younger Englishman named Peter Turner – is based off a memoir Turned wrote. "She felt vulnerable to him, because she loved him, she really did love him. And anyone that we really truly are in love with, we re vulnerable to in a very deep way," said Bening. Read our full interview with the modern icon of an actress on WWD.com. #wwdeye (📷: @ninebagatelles; Styled by @cristinaehrlich)
The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
Known for her work with @victoriassecret, 25-year-old model @georgiafowler is raising her profile in Hollywood. Fowler stars in @vincecamuto’s holiday campaign, which launched in partnership with “Pitch Perfect 3.” “Almost every shoot with Vince Camuto, I’ve had to face a fear…It was definitely a challenge. I’m so grateful for it, though. I’ve always wanted to be a pop star, so that was the perfect chance,” Fowler said. Head to WWD.com to read about Fowler’s experience modeling, including at the #VSFashionShow, and her relationship with Nick Jonas. #wwdeye (📷: @jilliansollazzo)
EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)