PRICE-FIXING PLEA: Carlton Gary Walker, a former vice president with Harriet & Henderson Yarns Inc. of Henderson, N.C., pleaded guilty to price fixing and agreed to help federal officials in a wider price-fixing inquiry dating to...
PRICE-FIXING PLEA: Carlton Gary Walker, a former vice president with Harriet & Henderson Yarns Inc. of Henderson, N.C., pleaded guilty to price fixing and agreed to help federal officials in a wider price-fixing inquiry dating to 2000, the Justice Department said Thursday. Walker was charged with conspiring with unnamed “corporations and individuals,” according to documents filed in U.S. District Court in Raleigh, N.C. The price fixing involved spun yarn and started in October 2000 and continued until June 15, 2001, in violation of U.S. antitrust laws protecting competition. Walker pleaded guilty to one count of violating the Sherman Act, which carries a maximum penalty of three years imprisonment and a $350,000 fine. The Justice Department in a statement asked “for anyone with information concerning price fixing in the yarn industry” to contact federal prosecutors.
GAP MAKES THE GRADE: Standard & Poor’s Rating Services lifted its corporate credit and senior unsecured debt ratings on Gap Inc. to “BBB-” from “BB+” with a stable outlook, citing the company’s strong cash flow, improved operating margin, store location geographic diversity and “strong business position in casual apparel.” Analyst Diane Shand said Thursday that she expects “cash flow protection measures will remain solidly characteristic of investment-grade levels.” Shand cited the depth of Gap’s management team and believes the company has put processes in place to minimize a decline in business. The analyst was cautious, however, on the “intensely competitive” industry environment Gap operates in, which was partially reflected by its flat same-store sales in 2004.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
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