In Brief: Safeguard Consultations … Sears Gets Boost
SAFEGUARD CONSULTATIONS: The U.S. and China were scheduled to hold consultations over safeguard quotas via video conference Thursday night, according to a spokesman for the U.S. Trade Representative. Reacting to a surge in Chinese...
SAFEGUARD CONSULTATIONS: The U.S. and China were scheduled to hold consultations over safeguard quotas via video conference Thursday night, according to a spokesman for the U.S. Trade Representative. Reacting to a surge in Chinese imports, the Bush administration applied safeguard quotas to $1.31 billion worth of goods last month, limiting growth in seven categories of apparel and textiles to a 7.5 percent increase for the rest of the year. The safeguards can be renewed through 2008. The European Union also triggered the safeguard clause China agreed to when it joined the World Trade Organization, but managed to hammer out a deal allowing for 8 percent to 12.5 percent growth on 10 categories of goods until 2007. There was no indication whether the U.S. and China would enter into a similar deal.
SEARS GETS BOOST: Shares of Sears Holdings Corp. got a positive jolt on Thursday from a research note by Bear, Stearns & Co. analyst Christine Augustine. The new company, the result of the Sears Roebuck-Kmart merger "is an intriguing story in that it is a mix of different businesses and parts thrown together, instead of one cohesive business ... We believe the most likely scenario for Sears Holdings is to improve operating margins through a reduction in costs, increase cash flow through a decrease in capital expenditures and possibly sell certain assets such as real estate, Sears Canada or Lands' End." Shares went up $3.90, or 2.64 percent, to close at $151.35 in Nasdaq trading. Augustine wrote that the merger gives Sears an opportunity to accelerate its off-mall strategy. She expects capital expenditures to decline and stores to receive minimal investments unless going through conversions. The analyst initiated coverage with an "outperform" rating, and has the year-end 2005 target price at $169.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews