FITCH GOES NEGATIVE ON GAP: Fitch affirmed its "BBB-" ratings on The Gap Inc.'s Issuer Default Rating and $513 million senior unsecured notes, the ratings firm said Thursday, but added that the rating outlook on the retailer "has been revised to Negative from Stable." Fitch said the change in the rating outlook "reflects persistent weak operating performance across the company's largest banners, including Gap and Old Navy, and the potential that continued poor performance will result in weaker credit metrics. The ratings continue to reflect Gap's diverse store base, brand recognition and strong liquidity position, balanced against the highly competitive specialty apparel retailing environment."
LACOSTE HIRES PECORE: Lacoste has appointed Doug Pecore as vice president of wholesale. He succeeds Per Inglander, who left to pursue other opportunities. Most recently, Pecore was vice president of sales and marketing at Capital Mercury Apparel. Earlier, he spent 16 years at Levi Strauss & Co. in various management posts. Based in New York, Pecore will report to Robert Siegel, chairman of Lacoste USA.
Breaking: @cushnieetochs’ co-founders @carlycushnie and @ochsmichelle are parting ways. After a 10-year run, Ochs is leaving the brand. Get the full story on WWD.com – link in bio. #wwdnews #wwdfashion
@maybelline’s Kanako Takase had snow bunnies in mind when creating the beauty look for @philipppleininternational. Playing off of the bedazzled snowboards in the collection, Takase mixed two highlighters together for a luminous sheen. #wwdbeauty #nyfw (📷: @jilliansollazzo)
“There’s a huge gap between the old way of doing things and today. It takes the youth to help evolve that. You have to count on the kids today to help lead you into the future. A lot of these retailers are stuck in the past. Communication is the biggest thing,” said @ronniefieg of @kith on the youth’s role in retail. On Monday night, Jeff Staple moderated a keynote session with Fieg and @syresmith at Assembly - a series of workshops, talks and keynotes addressing topics or issues in the apparel industry. Head to WWD.com to read more advice from Fieg and what Smith thinks of his dad @willsmith’s Instagram account and sustainability (📷: @weston.wells)
@joansmalls closed the @michaelkors fall 2018 show in black sequined pants and a varsity T printed with 19 on the front and 81 on the back. 1981 – the year Kors went into business. #wwdfashion #nfyw (📷: @giovanni_giannoni_photo)
“You think your life is going to be a certain way, and nothing you thought would happen ends up happening. Never in my wildest dreams did I think I’d be designing clothes and working with Mickey Drexler, and building something I’m deeply proud of,” said Jenna Lyons. Nine months after leaving @jcrew, Lyons is exploring the meaning of happiness. Read the interview, where Lyons talks about reinvention and more on WWD.com – link in bio. #wwdfashion (📷: Farrell) #jennalyons #jcrew