In Brief: Bebe Battered … Rwanda Gets a Break … Watts Next … Fusco Returns …
BEBE BATTERED: Bebe Stores Inc. on Tuesday said that preliminary February same-store sales were down 15.2 percent and as a result, the specialty retailer now expects comparable-store sales for the first quarter to decrease in the low- to midteens. In...
BEBE BATTERED: Bebe Stores Inc. on Tuesday said that preliminary February same-store sales were down 15.2 percent and as a result, the specialty retailer now expects comparable-store sales for the first quarter to decrease in the low- to midteens. In a statement, John Kyees, chief financial officer of the Brisbane, Calif.-based teen and contemporary specialty retailer, attributed the weak performance to insufficient inventory in the casual portion of the sportswear category. Moreover, Kyees said Bebe’s traditional customer has "rediscovered Bebe at a slower rate than expected." With the February results, Bebe’s comps have fallen for 16 consecutive months.
RWANDA GETS A BREAK: Rwanda has joined 18 other sub-Saharan African nations eligible for apparel and textile quota and duty breaks. The Office of the U.S. Trade Representative formally extended the duty- and quota-free trade breaks to Rwanda under a trade measure enacted in 2000 covering sub-Saharan Africa and the Caribbean Basin. In addition, Rwanda was designated a Lesser Developed Country, which allows it to use fabric from anywhere in the world until Sept. 30, 2004.
“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)