FEDERATED’S FALL: Citing weak sales, Standard & Poor’s revised downward —to "negative" from "stable" — its outlook on Federated Department Stores Inc.’s debt. Still, the retailer’s corporate credit rating was...
FEDERATED’S FALL: Citing weak sales, Standard & Poor’s revised downward —to "negative" from "stable" — its outlook on Federated Department Stores Inc.’s debt. Still, the retailer’s corporate credit rating was reaffirmed at BBB-plus. S&P’s lowest investment grade, above "junk" status, is BBB-minus. S&P analyst Gerald Hirschberg, in a statement, said the change "was based on a continuation of disappointing sales," as well as "expectations that these negative trends may not reverse soon." Federated has indicated that its comparable-store sales for the first two weeks of August were "very disappointing." The firm has also reduced comp expectations for the fall to a 1 to 3 percent increase — down from the 3 to 3.5 percent uptick previously anticipated.
RUSSELL MOVES IN: The Russell Corp. has acquired Moving Comfort, a $10 million Chantilly, Va.-based activewear maker that caters to female runners, for undisclosed terms. Founders Ellen Wessell and Elizabeth Goeke will remain with the company as president and executive vice president, respectively. Moving Comfort will continue to be based at its Chantilly headquarters at least through 2003, a Russell spokeswoman said. The Atlanta-based Russell plans to keep scouting brands that suit its portfolio, which includes Russell, Jerzees, Mossy Oak, Cross Creek and Discus.
MACY’S AGREES TO BE ACCESSIBLE: Macy’s West agreed Thursday to a court order to make all merchandise in its Union Square store accessible to wheelchair- and scooter-bound shoppers by clearing at least 32 inches in at least one nearby path. The agreement settles one of the last remaining claims against the San Francisco-based retailer from two lawsuits the Oakland, Calif.-based Disability Rights Advocates filed five years ago. At that time, a San Francisco judge found that the Union Square flagship and a Macy’s store in Sacramento violated state and federal laws prohibiting discrimination against disabled individuals.
@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)