S&P UPGRADES: Taking a rosier view on Kohl’s Corp., Standard & Poor’s raised its outlook on the Menomonee Falls, Wis.-based retailer to positive from stable and reaffirmed its "A-minus" corporate credit rating. The firm’s $133...
S&P UPGRADES: Taking a rosier view on Kohl’s Corp., Standard & Poor’s raised its outlook on the Menomonee Falls, Wis.-based retailer to positive from stable and reaffirmed its "A-minus" corporate credit rating. The firm’s $133 million 364-dayrevolving credit facility maturing in July and its $532 million revolving credit facility due in 2007 were also assigned "A-minus" ratings. "The outlook anticipates that Kohl’s business and financial risk profiles will improve, given strong growth prospects for the company through store expansion and superior execution," said fixed-income analyst Diane Shand in a statement. S&P also raised its long-term debt rating on TJX Cos. to "A" from "A-minus," citing consistently good operating performance, strong market position and the expectation that its conservative management approach will be maintained as the firm’s growth spurt continues. The short-term rating was also brought up to "A-1" from "A-2" while the off-pricer’s credit outlook remained stable.
REDBOOK HONORS: First Lady Laura Bush delivered the keynote address at Redbook’s fifth annual "Mothers & Shakers" awards luncheon Thursday at Lincoln Center’s Avery Fisher Hall. Bush, dressed in a lavender suit, told the audience she was delighted to be among so many "friends and friendly faces" who share the common goal of bettering America. "The achievements today are diverse, but what they have in common is humanity," said the First Lady, before citing the President’s plea for Americans to volunteer more. The honorees included Tyra Banks, for working to boost pre-teens’ self-esteem; Maria Cuomo Cole, for aiding the homeless; The Dixie Chicks, for helping save endangered species and protecting the environment; Angie Harmon, for fighting video voyeurism; Marlee Matlin, for working to keep the nation’s blood supply full, and Laura San Giacomo, for raising awareness about classroom diversity. Jayne Jamison, vice president and publisher of Redbook, which is celebrating its centennial, plugged the magazine’s new, updated look: "We look pretty good for 100, don’t you think?"
“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)