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Business

Starbucks' Schultz Sees Sweeping Retail Consolidation

As U.S. retailing consolidates, Starbucks sees adding 12,000 stores worldwide through 2021.

clock 19hDavid Moin and Evan Clark

Business

Jewelry Brand Kendra Scott Puts Stake on the Block

The Austin, Tex.-based jeweler could be valued at $1 billion or higher in the Jefferies-run process.

clock 14hEvan Clark

Business

Hear J. Crew's Mickey Drexler Getting Succession-Minded

J. Crew Group is working to improve its business and moving to create a succession plan.

clock 23hDavid Moin

ADDING FASHION TO FUNCTION

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Overview

From This Issue

Financial

ST. JOHN SALES DECLINE AS NET DROPS SLIGHTLY

NEW YORK — Expanding retail sales and strong same-store sales partially offset weak domestic wholesale performance to allow St. John Knits International Inc. to report essentially flat earnings in the second quarter of 2002.

For the three months…

clock June 13, 2002WWD Staff

Fashion Features

ALBERTO-CULVER FORMATS NEW UNIT

NEW YORK — The Alberto-Culver Co. has created a new global management structure and unit for its consumer brands business, a strategy that falls in line with the company’s commitment to globalization.

The new unit, to be called Alberto-Culver…

clock June 13, 2002WWD Staff

Fashion Features

ANDREW GN BROADENING SCOPE

PARIS — At a rocky time for many young, independent fashion designers, Paris-based Andrew Gn is bucking the trend and briskly expanding his four-year-old, self-financed ready-to-wear business.

Sales of his fall collection soared 50 percent over…

clock June 13, 2002WWD Staff

Fashion Features

ADDING FASHION TO FUNCTION

NEW YORK — If the experts are on target, the activewear market is in store for some rejuvenation for fall 2003.

The outlook includes livelier colors, an infusion of prints and more versatile items, according to six executives who keep a close eye…

clock June 13, 2002WWD Staff

Fashion Features

FERRAGAMO FETES SOHO SHOP AS U.S. STRATEGY TAKES SHAPE

NEW YORK — France may have prematurely crashed out of the World Cup soccer tournament, and Italy’s prospects are questionable, but the team headed by Massimo Ferragamo and Jean-Marc Gallot hopes to score with its new game plan.

On Monday,…

clock June 13, 2002WWD Staff

Fashion Features

LEVI’S NEXT BIG HOPE: TYPE ONE DARK DENIM WILL BRIGHTEN SALES

SAN FRANCISCO — Can the company that invented blue jeans as Americans know them today regain its position as the leading innovator in the denim category?

That’s the challenge Robert Hanson, president of the Levi’s brand in the U.S., is giving his…

clock June 13, 2002WWD Staff

Fashion Features

BEACH BOUND

NEW YORK — Bottega Veneta has long had a loyal following for its great shoes and bags. And although the company has dabbled in clothing in the past, for cruise, creative director Tomas Maier has created the first full-fledged collection in some time…

clock June 13, 2002WWD Staff

Fashion Features

Fashion Scoops: Marty’s Mouth … Twice as Nice … Home Alone …

MARTY’S MOUTH: Marty Staff, the former high-rolling president and chief executive of Hugo Boss USA, has hired himself a big p.r. firm, Robinson Lehrer & Montgomery, which has done work for Calvin Klein and handles corporate clients such as AOL Time…

clock June 13, 2002WWD Staff

Fashion Features

Get Packing

NEW YORK — When it comes to travel clothes, the rule is the simpler the better. And designers are finding ways to make the journey both stylish and easy for resort. At Bottega Veneta, creative director Tomas Maier has prepared his lady for just…

clock June 13, 2002WWD Staff

Financial

KMART RESTATES ITS 2001 RESULTS

NEW YORK — What’s a half billion dollars between friends?

Kmart Corp.’s expected financial restatements, which reflect an accounting change on vendor allowances and rebates, upped its losses for the first three quarters of 2001 by $501 million,…

clock June 13, 2002WWD Staff

Fashion Features

DEMINT WINS DESPITE MILLIKEN

WASHINGTON — Roger Milliken and his comrades in the domestic textile industry may have lost their bid to unseat South Carolina GOP incumbent Jim DeMint, but they’re determined, leading up to November’s congressional elections, to work against other…

clock June 13, 2002WWD Staff

Financial

FED REPORT: SPRING CHILL BRINGS COOL RETAIL SALES

WASHINGTON — Retail sales remained flat in April and early May as “unseasonable weather” hampered apparel sales in several districts, the Federal Reserve’s Beige Book report revealed Wednesday.

In the Richmond, Atlanta, St. Louis and Minneapolis…

clock June 13, 2002WWD Staff

Fashion Features

FERAUD FOCUSING ON CORE SUIT LINE

PARIS — Is couture the foundation of a fashion house, or the cherry on top?

According to Louis Feraud’s new managing director, Francois-Xavier de Monts, it’s the latter. He unveiled a new strategy for the French house that is hinged initially on…

clock June 13, 2002WWD Staff

Fashion Features

IMRA’S ROBERT VERDISCO PLANS DEC. RETIREMENT

ARLINGTON, Va. — Robert J. Verdisco, president of the International Mass Retail Association since 1990, will retire Dec. 31 but continue as a consultant for one year to assist in the leadership transition.

The search for a successor is on, but…

clock June 13, 2002WWD Staff

Fashion Features

IN BRIEF

ROSENBAUM JOINS GALOTTI: Ron Galotti, vice president and publisher of GQ, has tapped Lee Rosenbaum as associate publisher. Most recently, Rosenbaum worked with Galotti at Talk, serving as the magazine’s publisher. Before that he was publisher of…

clock June 13, 2002WWD Staff

Fashion Features

MALL OF AMERICA BEGINS BUILDING FOR THE FUTURE

DALLAS — As if the Mall of America weren’t big enough already.

The mammoth 4.2 million square-foot shopping center in Bloomington, Minn., plans to get a whole lot bigger by breaking ground on the first phase of a 5.1 million-square-foot expansion…

clock June 13, 2002WWD Staff

Financial

MAYOR’S EXTENDS DEADLINE

NEW YORK — Mayor’s Jewelers Inc. said Tuesday that it has pushed back the deadline for a financing agreement with Henry Birks & Sons Holdings to June 21, due to undisclosed “internal and external matters” at both firms.

The troubled jewelry chain…

clock June 13, 2002WWD Staff

Fashion Features

NEW JERSEY GOVERNOR INKS MADE-IN-U.S. ORDER

NEW YORK — In a move to promote domestic apparel production and protect garment workers, New Jersey Gov. James E. McGreevy signed an executive order Tuesday requiring all apparel and uniforms purchased by the state for its employees to be…

clock June 13, 2002WWD Staff

Fashion Features

PRADA LOOKING TO BOLSTER RANKS

MILAN — With less than a month before Prada Group kicks off the road show for its highly anticipated initial public offering, chief executive officer Patrizio Bertelli is looking to beef up the company’s board with executives from outside the Prada…

clock June 13, 2002WWD Staff

Fashion Features

REEBOK TAPS COLES AS BRAND PRESIDENT

NEW YORK — Continuing a year-long executive shuffle, Reebok International Ltd. Wednesday promoted Martin Coles to president and chief executive officer of the Reebok brand.

He succeeds David Purdue, who left the athletic footwear and apparel…

clock June 13, 2002WWD Staff

Fashion Features

ROLLING STONE TAPS FHM’S NEEDHAM

NEW YORK — Rolling Stone named Ed Needham, editor in chief of beer and babes magazine FHM, as managing editor on Wednesday.

The appointment ends weeks of speculation about who would take the reigns of the magazine and replace Robert Love, who was…

clock June 13, 2002WWD Staff

Fashion Features

THE BIG BOYS

RETAILERS RANKED BY DOLLAR VOLUME OF WOMEN’S, MEN’S AND CHILDREN’S APPAREL.

1

Wal-Mart Stores Inc.

Estimated total apparel revenue, 2001: $14.96 billion

Total Apparel Revenue, 2000: $13.11 billion

Wal-Mart, the biggest company in the world,…

clock June 13, 2002WWD Staff

Essentialist

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