NEW DIESEL DIGS: Diesel has signed a lease for its first West Coast flagship. The 3,500-square-foot space is located at 8401 Melrose Place in West Hollywood and is scheduled to open in April. The lease also includes use of the second-floor roof space, plans for which Diesel has yet to reveal. "We're pleased to be able to create a never-before-seen Diesel retail environment that will draw inspiration from the incredible energy of Los Angeles," said Renzo Rosso, president and founder, in a statement. The company also said it will continue to operate its existing store at Beverly Center.
SEARS' BIG CHARGE: Sears Holding Corp. said on Monday that it will take a $73.5 million pretax, fourth-quarter charge in connection with a verdict requiring payment of the same amount issued on Friday by a Texas state court jury in Dallas. The verdict requires a Sears subsidiary to pay a group of institutional bondholders in connection with the redemption of certain bonds. Sears also said it intends to appeal the Dallas state court verdict. The lawsuit pertained to the redemption of certain bonds in 2004 following Sears, Roebuck's sale of its credit card business. The bondholder group includes J.P. Morgan Securities and subsidiaries of American International Group Inc., according to Sears. The retailer said it expects to report fourth-quarter earnings on March 1. The pretax charge of $73.5 million will reduce aftertax earnings by $44 million, or 29 cents a diluted share, the company said. Sears said the charge was not included in the retailer's previous guidance.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)