In Brief: Marching On … Shuffle Board … On the House … Kmart’s Day in Court …
MARCHING ON: Swedish cheap-chic retailer Hennes & Mauritz on Tuesday reported revenue rose 8 percent in March compared with the same period last year. Sales in March 2002 increased 16 percent. H&M did not break down the numbers on a same-store...
MARCHING ON: Swedish cheap-chic retailer Hennes & Mauritz on Tuesday reported revenue rose 8 percent in March compared with the same period last year. Sales in March 2002 increased 16 percent. H&M did not break down the numbers on a same-store basis.
SHUFFLE BOARD: Blair Corp. on Tuesday named a new chairman and reported other comings and goings to the board of directors. Craig Johnson, an incumbent director, was appointed chairman of the board, succeeding Murray McComas, who served on the board for 26 years. McComas, who retired as president of the Warren, Pa.-based direct marketer in 1999, will remain a director of the company. In the other moves, Michael Shuler, chief executive officer of Donerail Investments Ltd., was added to the board and four board members — David Blair, Robert Blair, Kent Sivillo and Blair Smoulder — retired. The changes reduce the number of directors to 11, five of whom are corporate officers, from 14. Johnson, a former managing director and partner of Glenthorne Capital in Philadelphia, now serves as advisory director for the investment firm. Prior to that, Johnson served in executive capacities in shipping and investment banking.
ON THE HOUSE: Saks Inc. closed the sale of its private label credit card business to Household International. The deal was worth $1.3 billion, including $300 million in cash for Saks and the assumption of $1 billion in liabilities. The retailer will continue to provide key customer service functions and receive compensation from Household under a 10-year deal.
KMART’S DAY IN COURT: Kmart Corp. spent two days in court in a drive to persuade Chicago bankruptcy judge Susan Pierson Sonderby to reject objections by some creditors to the firm’s reorganization plan. Proceedings were continuing at press time Tuesday.
@deciem is all about transparency and approachability. At this year’s WWD Digital Beauty Forum, the brand's co-CEO @nicolakilner said talking to customers directly about the ingredients in products and how they work is key. #wwdsummits #wwdbeauty
‘We didn't know how relevant our film would be when we were making it. When Steven [Rogers] wrote the script Trump wasn't president, class divide in America wasn't as evident as it is now, though it was present. The Time’s Up movement hadn't began and the way we look at women and treat women who speak out — thankfully that is something that seems to have shifted in the last year. I think we just need to continue making art that provokes the conversation and do what we can,’ said ‘I, Tonya’ actress @margotrobbie. Head to WWD.com to see all the celebrities who walked the red carpet @bafta #timesup #wwdeye (📸: Neil Hall)
Gemma Arterton is joined on the @bafta’s red carpet by Eileen Pullen and Gwen Davis, the two women who started the fight for the pay-gap. ‘They represent a normal person speaking out for what is right. Speak out, we will listen and anyone can speak out,’ said Arterton. #eebaftas #timesup #wwdeye (📸: David Fisher)