PAC SUN LEASES: Teen retailer Pacific Sunwear of California Inc. said it would correct its accounting for leases, which is expected to reduce net income by $1 million, $300,000 and $600,000 for the fiscal years ended in January 2005,...
PAC SUN LEASES: Teen retailer Pacific Sunwear of California Inc. said it would correct its accounting for leases, which is expected to reduce net income by $1 million, $300,000 and $600,000 for the fiscal years ended in January 2005, 2004 and 2003, respectively. The announcement came a day after Kohl’s Corp. said it would restate financial statements covering the first three quarters of fiscal 2004 as well as fiscal 1998 through 2003 to correct accounting for its leases. Separately Pacific Sunwear also announced that it hired Lou Ann Bett as division president of d.e.m.o. as of May 1. Bett formerly worked for Limited Corp., serving as vice president and general merchandising manager of Express Men’s and Express Women’s.
RADICI SHRINKS: RadiciSpandex Corp. plans to close its Fall River, Mass., office in the coming months, as it consolidates its U.S. corporate functions into Gastonia, N.C. About 12 employees work at Fall River, with half expected to be laid off and the rest having the chance to relocate to Gastonia. The company also is reworking its spinning operations there and combining its sales and customer-service functions. The company’s sales, marketing, logistics, planning and technical customer-service functions will be brought together into a “technical sales” department under Preston Kelly, who was promoted to the new position of director of commercial operations. The firm also has temporarily shut its Gastonia fiber-spinning operation to install equipment and make other changes to produce mid-to-heavy denier fibers. The company said it has enough inventory to continue to meet the market’s needs and plans to reopen the plant by summer.
For its next men’s wear collection, @roberto_cavalli will show as a special guest at #PittiUomo, running from June 12-15. The brand, which has Florence in its roots, will relaunch its men’s wear collection, which will be presented separately from women’s wear for the first time since Paul Surridge was appointed creative director in May. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech at the @sxsw conference for @createcultivate, the online platform and conference series for women. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.