Standard & Poor’s Ratings Services has lowered its ratings on mall-based junior and preteen apparel retailer G+G Retail Inc., operator of the Rave and Rave Girl apparel chains. S&P revised downward the New...
Standard & Poor’s Ratings Services has lowered its ratings on mall-based junior and preteen apparel retailer G+G Retail Inc., operator of the Rave and Rave Girl apparel chains. S&P revised downward the New York-based company’s corporate credit rating to “B” with a negative outlook from “B-plus” with a stable outlook, lowered its senior unsecured debt rating to “B” from “B-plus,” and cut the firm’s bank loan rating to “BB-minus” from “BB.” S&P said the move “reflects G+G’s weak operating performance through the first half of 2003, deteriorating cash flow protection measures and S&P’s expectations that the company will be challenged to improve results due to the difficult retail environment and intense competition in the teen apparel segment.” G+G has more than 500 units and endured a same-store sales decline of 13.8 percent during the first half of the year. As of Aug. 2, G+G had $105 million of funded debt on its balance sheet and liquidity remains adequate, S&P said.
The Italian fashion industry expects sales for 2003 to drop 1.5 percent, but that’s not deterringMario Boselli from predicting brighter skies ahead. “At the end of a two-year crisis, the year 2004 will be very good [for the Italian fashion industry],” said Boselli, president of the Italian Chamber of Fashion, at a news conference on Tuesday. He said orders in the second part of this year were “generally very promising” and business was helped by a stabilization of the dollar. Boselli said although Italian fashion saw sales pick up in the third quarter, it did not compensate for losses in the first part of the year. Sales for 2003 are expected to come in at $79.5 billion, or 70 billion euros, converted at current exchange.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)