SEC’S OPEN DOOR: May Department Stores Co. and Jones Apparel Group Friday joined the ranks of companies whose chief executives and chief financial officers filed sworn statements with the Securities and Exchange Commission affirming the accuracy...
SEC’S OPEN DOOR: May Department Stores Co. and Jones Apparel Group Friday joined the ranks of companies whose chief executives and chief financial officers filed sworn statements with the Securities and Exchange Commission affirming the accuracy of their quarterly financial statements. May filed ahead of its Sept. 17 deadline while Jones received a six-day extension to file beyond its original Aug. 14 due date. May joined Wal-Mart Stores among retailers who have opted to expense stock options beginning in fiscal 2003. May expects the expense from stock options to be about 2 cents per share in 2003, growing to about 8 cents per share in 2006. Asked what consequences late and nonfilers would face, an SEC spokesman responded, "We will consider all options and fashion a remedy based on the facts and circumstances of each case."
MORE MONEY FOR COTTON: The Cotton Council International, a division of the National Cotton Council of America, has received an additional $763,645 for fiscal year 2002 from the U.S. Department of Agriculture to promote U.S. cotton exports overseas. The funding, tied to the recently signed farm bill, will be added to the Cotton Council’s original budget of $6.74 million, which was also received from the USDA for fiscal year 2002. Cotton Council International is funded by tariffs on imported cotton and cotton fees that growers pay.
“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)