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.
Breaking: @cushnieetochs’ co-founders @carlycushnie and @ochsmichelle are parting ways. After a 10-year run, Ochs is leaving the brand. Get the full story on WWD.com – link in bio. #wwdnews #wwdfashion
@maybelline’s Kanako Takase had snow bunnies in mind when creating the beauty look for @philipppleininternational. Playing off of the bedazzled snowboards in the collection, Takase mixed two highlighters together for a luminous sheen. #wwdbeauty #nyfw (📷: @jilliansollazzo)
“There’s a huge gap between the old way of doing things and today. It takes the youth to help evolve that. You have to count on the kids today to help lead you into the future. A lot of these retailers are stuck in the past. Communication is the biggest thing,” said @ronniefieg of @kith on the youth’s role in retail. On Monday night, Jeff Staple moderated a keynote session with Fieg and @syresmith at Assembly - a series of workshops, talks and keynotes addressing topics or issues in the apparel industry. Head to WWD.com to read more advice from Fieg and what Smith thinks of his dad @willsmith’s Instagram account and sustainability (📷: @weston.wells)
@joansmalls closed the @michaelkors fall 2018 show in black sequined pants and a varsity T printed with 19 on the front and 81 on the back. 1981 – the year Kors went into business. #wwdfashion #nfyw (📷: @giovanni_giannoni_photo)
“You think your life is going to be a certain way, and nothing you thought would happen ends up happening. Never in my wildest dreams did I think I’d be designing clothes and working with Mickey Drexler, and building something I’m deeply proud of,” said Jenna Lyons. Nine months after leaving @jcrew, Lyons is exploring the meaning of happiness. Read the interview, where Lyons talks about reinvention and more on WWD.com – link in bio. #wwdfashion (📷: Farrell) #jennalyons #jcrew