A CATO FAMILY AFFAIR: W.H. Cato Jr. Revocable Trust and Cato Family Investments, a limited partnership managed by Wayland Cato Jr., 79, a founder and chairman of Cato Corp., plans to sell up to 1 million shares of the firm’s Class A common...
A CATO FAMILY AFFAIR: W.H. Cato Jr. Revocable Trust and Cato Family Investments, a limited partnership managed by Wayland Cato Jr., 79, a founder and chairman of Cato Corp., plans to sell up to 1 million shares of the firm’s Class A common stock, or approximately 19 percent of its holdings in the firm, through Banc of America Securities. The sale follows a similar divestiture of 1.2 million shares in December and relates to Cato’s estate planning. Excluding shares represented in the plan, the trust and limited partnership hold about 44 percent of the voting power of the firm’s common stock.
BUSH — WE BUY FROM YOU, ARGENTINA: President George Bush, opting for trade instead of financial aid, last week granted trade benefits to Argentina, which is suffering its worst-ever economic crisis. The White House gave duty-free access to 57 types of imports from Argentina, including jewelry and leather products under the Generalized System of Preferences program, which does not include textiles or apparel. The U.S. said it might give duty-free privileges to additional products, including textiles, if it can settle a long-running dispute over Argentine patent laws on pharmaceuticals. The Office of the U.S. Trade Representative plans to hold a hearing on Oct. 18. to consider granting additional duty-free treatment for 17 products from Argentina, the Philippines and Turkey. A decision on that is expected by Jan. 31, 2003.
KMART EMPOWERMENT: A federal judge, on Thursday, granted Kmart Corp. the power to issue subpoenas in its investigation into whether its previous management’s practices and policies led to the firm’s Jan. 22 Chapter 11 filing, according to published reports. The Troy, Mich.-based firm and the Federal Bureau of Investigation, along with the Securities and Exchange Commission, have been examining the events leading up to the filing, the largest retail bankruptcy in U.S. history.
HDP SAYS IN FILA TALKS WITH VF: The Italian conglomerate Holding di Partecipazioni Industriali, which has been trying to sell the Fila brand for over a year, said it is in now talks with VF Corp. about a deal, though a spokeswoman for the Greensboro, N.C.-based apparel maker declined to comment on HdP’s statement. An HdP spokeswoman said: "We are holding several negotiations and VF is one of the companies that has shown interest." She did not name any other interested parties, though in December the company had said it was in exclusive talks with Continental Partners, an investment group. Continental couldn’t be reached for comment.
@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)