DEBT RETIREMENT: ShopKo Stores Inc. on Monday reported that as of Dec. 10, it has voluntarily retired the $100 million term-loan portion of its credit facility with Fleet Retail Finance Inc. "Because we have made significant progress reducing working...
DEBT RETIREMENT: ShopKo Stores Inc. on Monday reported that as of Dec. 10, it has voluntarily retired the $100 million term-loan portion of its credit facility with Fleet Retail Finance Inc. "Because we have made significant progress reducing working capital, the capacity under the facility is no longer required," said treasurer R. John Pindred in a statement. "The voluntary retirement of the term loan demonstrates confidence in our company’s ability to continue to generate strong cash flows and effectively manage working capital." The revolving portion of the credit facility was used to fund the outstanding amount under the term loan. As a result of the retirement, the Green Bay, Wis.-based Fortune 500 company said it expects to realize interest expense savings over the remaining life of the facility, as this transaction reduces the total credit facility to $500 million from $600 million.
STOCK OFFER AND ORDERS UP: In a registration statement released Monday by the Securities and Exchange Commission, Delta Galil Industries Ltd. disclosed that it is offering to the public 1.1 million ordinary shares at $8.72 each for a proposed maximum aggregate offering price of $9.6 million. The commencement of the proposed sales began Monday, and, going forward, the stock will now be sold from "time to time." Separately, the Tel Aviv-based innerwear maker reported Friday it has received sales forecast data from Wal-Mart Stores Inc. and Target Corp., indicating that orders to those customers are expected to increase by approximately 20 percent in 2003. As the company’s two largest mass-market customers, those retailers together represented about 25 percent of Delta’s total 2002 sales. For the nine months ended Sept. 30, Delta’s sales were $151.9 million.
PAC SPLIT: Pacific Sunwear of California Inc. announced a three-for-two stock split with a record date of Dec. 18 and a payment date of Dec. 30. Shares of the specialty retailer will begin trading on a split-adjusted basis today. Shares of PacSun closed at $26.64 in Nasdaq trading Monday, on par with the previous close.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty