WAL-MART RAISES SAFEWAY STAKES: Wal-Mart is said to be planning an all-cash offer of $8 billion for the British supermarket chain Safeway, according to press reports over the weekend. Wal-Mart, which is working with Wasserstein Pirella in New York, is...
WAL-MART RAISES SAFEWAY STAKES: Wal-Mart is said to be planning an all-cash offer of $8 billion for the British supermarket chain Safeway, according to press reports over the weekend. Wal-Mart, which is working with Wasserstein Pirella in New York, is working on a bid that would "blow rivals out of the water," The Observer newspaper reported on Sunday. A Wal-Mart/ASDA spokesman would not confirm or deny the reports about the proposed bid. Last week, the retailing giant issued a statement confirming its plans to make an all-cash bid for Safeway to gain stores in parts of the country where it is under-represented. Meanwhile, Philip Green, who owns the British Home Stores chain and Arcadia group of clothing companies confirmed that he was interested in launching an all-cash bid for Safeway. "We’re interested in what we can do in the non-food division of the store," Green told WWD. Green, whom sources say plans to bid around $5.4 billion, joins Wm Morrison, J. Sainsbury, and the private equity firm Kohlberg Kravis Roberts in the race to buy Safeway’s 480 stores.
GUESS ROYALTY BONDING: Guess Inc., through an indirect, wholly owned subsidiary, on Friday began offering $75 million in bonds, secured by license fees from its accessories, children’s apparel and overseas contracts, due in 2011. The transactions also include "a security interest in all of the trademarks and goodwill transferred" to Guess’ IP Holder LP subsidiary, which will guarantee payments on the bonds. The bond sale, expected to be completed by the end of March, will "partially monetize the expected future royalty payments to be generated by the licensing business Guess has established," the firm said. Proceeds will be used for general corporate purposes, including the repayment of debt.
PENNEY SHORT: J.C. Penney Co. said Monday that sales through the third week of January are trending below plan. The news could hamper the Plano, Tex.-based retailer’s expectations of generating "flat to up slightly" monthly comparable-store sales. The best performing categories for the week were children’s, men’s and women’s apparel. The prior week’s sales were on plan. Penney’s monthly sales for its catalogue division are expected to be down 25 percent.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@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)