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...
RANTING ABOUT RAVE: 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.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)