NOTE TO TOMMY: Tommy Hilfiger U.S.A Inc. repurchased $25 million of the principal amount of its 6.5 percent notes due June 2003 in privately negotiated transactions last quarter. The firm’s board also authorized the repurchase, over the next several months, of another $100 million of the $225 million notes still outstanding. Chief executive Joel Horowitz stated that the repurchases “will reduce the company’s interest expense while maintaining liquidity and flexibility.”
JONES AND GLORIA: Jones Apparel Group Inc. said Tuesday that it has completed its $143.7 million acquisition of all the common stock of Gloria Vanderbilt Apparel Corp. and all the assets of Gloria Vanderbilt Trademark B.V. Gloria Vanderbilt, whose business is concentrated in moderately priced stretch and twill jeanswear, had net sales of $146 million in 2001. The company’s brands include Gloria Vanderbilt and GLO, which targets juniors.
NIKE NAMES LUMINA: Lumina Americas Inc., a provider of integrated marketing solutions for the U.S. Hispanic and Latin American markets, has been selected as the regional agency of record for Nike’s Latin American region. The work will include online strategy, creative, media planning and buying for Latin America.
APPAREL’S CYBERSHUFFLE: A funny thing happened online in February. Walmart.com, which often leads the list of Web sites run by apparel merchants ranked by traffic — but itself does not sell clothing online — was surpassed by two that do: Sears.com and Target.com. Sears drew 3.56 million unique visitors, reaching 3 percent of the ‘Net’s active users, and Target had 3.53 million, also 3 percent, followed by Walmart.com, which had 3.48 million users, or 2.9 percent, according to Web ratings agency Nielsen/NetRatings. Ranking fourth was JCPenney.com, with 2.94 million, or 2.5 percent of ‘Net users. It was followed by two sites leveraging lingerie purchases for Valentine’s Day: VictoriasSecret.com, which placed fifth, with 2 million users, or 1.7 percent of cybersurfers, and fredericks.com, sixth, with 1.7 million, or 1.4 percent.