FOOT LOCKER STUMBLE: Foot Locker Inc. shares tumbled 6.4 percent to $23.65 Tuesday on the New York Stock Exchange after the retailer cut its profit outlook for the second quarter, citing sales declines in Europe. The firm expects profits of 27 cents to 29 cents a share in the quarter, below its earlier guidance of 32 cents to 35 cents a share. Foot Locker's sales for the period ended July 30 fell by high single digits at its European stores, which offset gains in the U.S., Canada and the Asia-Pacific region. Overall sales for the second quarter rose 3 percent to $1.31 billion from $1.27 billion, while same-store sales edged up 1.3 percent.
LAWSUIT AGAINST AVON: A shareholder has filed a lawsuit against Avon Products Inc., seeking class-action status, alleging the firm improperly concealed problems it faced in its overseas businesses. The complaint was filed on July 29 in Manhattan federal court on behalf of investors who purchased Avon common stock between April 8 and July 18, 2005. The complaint alleged that the cosmetics maker knew there was resistance to its expansion efforts in China and Russia and that revenue growth in Central and Eastern Europe was slowing down from forecasted levels. The suit charged the company deliberately deceived the market when it issued a number of positive statements about its performance. In a statement the company attributed the results to a decline in business in China and lower-than-anticipated growth in Central and Eastern Europe.
THAI FASHION SPOTLIGHT: The first Bangkok Fashion Week will take place Aug. 17-21 at the Queen Sirikit National Convention Center and adjacent Benjakitti Park. Activities include fashion shows by international and Thai designers; exhibition and designer showcases; a Jewelry Gala Night, and a Trade Fair for 150 brands. Participating companies and designers are from the textile and garment, gems and jewelry, and leather goods industries.
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye