In Brief: Goody’s Decline … Human Factor … Safeguard Stay
GOODY’S DECLINE: Shares of Goody’s Family Clothing Inc. fell 17.3 percent in Nasdaq trading Tuesday after the company said first-quarter earnings would be “significantly lower” than the 24 cents a share in last...
GOODY’S DECLINE: Shares of Goody’s Family Clothing Inc. fell 17.3 percent in Nasdaq trading Tuesday after the company said first-quarter earnings would be “significantly lower” than the 24 cents a share in last year’s comparable period. Robert Goodfriend, chairman and chief executive officer, said a variety of ills, including cold, wet weather and soaring gas prices, combined with an early Easter forced the firm “to be more promotional in an effort to stimulate sluggish sales.” The announcement, made late Monday, touched off selling Tuesday that reduced the price of a share of Goody’s by $1.89 to $9.05. Goody’s first quarter concludes at the end of April.
HUMAN FACTOR: François-Henri Pinault, a day after taking over as chief executive officer of PPR from Serge Weinberg, on Tuesday named Alain Luchez senior vice president of human resources of the French luxury and retail conglomerate. Luchez, who will also become a member of PPR’s executive committee, succeeds François Potier, who is leaving. Luchez, 52, was previously senior vice president of human resources at PPR’s Redcat’s mail-order division.
SAFEGUARD STAY: The U.S. Court of Appeals for the Federal Circuit has deferred until May consideration of the U.S. government’s motion to stay a preliminary injunction that has suspended its review of China safeguard petitions for more than two months. The court is to hear oral arguments in the case at that time. The deferral was the latest development in a legal battle between importers opposed to safeguard quotas and challenging federal authority to impose them and the federal government. It is another disappointment for a coalition of domestic textile and fiber producers and organized labor that had hoped the appeals court would overturn the injunction and allow 12 threat-based petitions targeting $1.9 billion in Chinese apparel and textile exports to move forward.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)