ACTION AGAINST SEARS: A securities class action has begun on behalf of shareholders who acquired Sears, Roebuck & Co. securities between Jan. 17, 2002 and Oct. 17, 2002. The case is pending in the U.S. District Court for the Northern District of...
ACTION AGAINST SEARS: A securities class action has begun on behalf of shareholders who acquired Sears, Roebuck & Co. securities between Jan. 17, 2002 and Oct. 17, 2002. The case is pending in the U.S. District Court for the Northern District of Illinois, Eastern Division, against defendants Sears, Alan Lacy, chief executive officer; Glenn Richter, chief financial officer, Paul Liska, former chief financial officer, and Thomas E. Bergmann, chief accounting officer. The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the class period.
CREDIT REPORT: Is retail giant Pinault-Printemps-Redoute about to shed its financial services arm, Finaref? Speculation heated up over the weekend in Europe that PPR may sell the affiliate, possibly to Credit Agricole. Finaref comprises credit card operations for PPR’s Printemps, Fnac, Conforama and Redoute activities. PPR has been under pressure to reduce its business-to-business activities in favor of retail and luxury, which boast higher profit margins. In August, it sold the mail-order subsidiary of Guilbert to Staples Inc. for $808 million. PPR reports its third-quarter sales on Tuesday.
PROTESTS AT HATHAWAY: The AFL-CIO organized a rally Saturday at C.F. Hathaway’s Waterville, Maine manufacturing plant, which was shuttered on Friday. The closing of the plant, which has been making Hathaway shirts for 165 years, will result in 235 lost jobs. Protesters blamed the closing on the North American Free Trade Agreement and overseas competition. Hathaway’s owner, Windsong Allegiance Apparel Group of Westport, Ct. said Hathaway couldn’t get enough orders because overseas factories were willing to produce shirts cheaper. It plans to produce the shirts overseas. Neither the AFL-CIO nor Windsong officials were available for comment Sunday.
TWO MORE JOIN SUIT AGAINST POLO: Two onetime Polo store sales associates, Janika Goff and Troy Greene, joined a class-action lawsuit against Polo Ralph Lauren last week alleging that image, was, in part, crafted illegally, by forcing salespeople to spend thousands of dollars a year on the company’s latest outfits to project a "lifestyle image." The complaint against Polo was initially filed in federal court last month in San Francisco by Toni Young, a 31-year-old sales associate, as reported. Attorneys for Polo have until Nov. 4 to respond to the complaint. A Polo spokeswoman couldn’t be reached for comment Sunday.
@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)