Archive for May, 2010

Jil Sander’s Navy, Limelight Marketplace, Nordstrom and Target Grow, Price of Cotton Increasing, Polo and Target Report Strong Quarter

Jil Sander Navy

(wwd) Jil Sander Navy Spring 2011

“Prints, color and California are not words typically associated with Jil Sander, a collection anchored in strict devotion to minimalism and precision cuts. Yet those concepts unite in Jil Sander Navy, Raf Simons’ new casual collection that the Milan-based company is launching for spring 2011.” see more

(wsj) Cotton Tale: Apparel Prices Set to Rise

“After a decade of deflation, the cost of producing apparel is on the rise. Prices for cotton are up about 55% from a year earlier. “We are facing a very serious problem in terms of increased cotton prices,”Abercrombie & Fitch Co. Chief Executive Michael Jeffries said Tuesday. The increases are making it harder for the high-priced teen retailer to restore margins already eroded by steep markdowns and depressed sales.”

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(wwd) Polo, Target Beat on Gains

“Better apparel sales helped both Polo Ralph Lauren Corp. and Target Corp. come in ahead of Wall Street expectations Wednesday. Polo’s net more than doubled in its fourth quarter to $114.1 million, or $1.13 a share, from $44.5 million, or 44 cents a share, in 2009. Target grew its first quarter bottom line by 28.6 percent to $671 million, or 90 cents a diluted share, from $522 million, or 69 cents a share, a year ago.” read more

Limelight Marketplace- View from the top (nyt)

(nyt)Limelight Marketplace

It was an Episcopalian place of worship, then a drug rehab center, briefly a nightclub, and now a pricey specialty  marketplace in the heart of Chelsea. There are a range of shops, everything from a bakery to an antique store, including a shop for dog bone shaped cookies for your 6 inch teacup poodle. The maze of shops will keep you looking for hours, but we do have to agree, the black and white theme is vertigo inducing!       read more

Gap and Nordstrom talk Growth

“Coming out of the recession, Gap has no debt, $2.3 billion in cash, a clearer grasp of what apparel customers want in the lean economy, remodeled and relocated U.S. and Canadian stores, and online sales in Canada poised to launch, Murphy said.”

“As consumers sit on the sidelines, we have to give them a reason to part with their dollars,” said Nordstrom. “This forced us to evolve our product offering. We continue to see improvement with bringing in fresh new product every day.”  Reflecting on recent improvements in the business — such as the 43.2 percent increase in first-quarter profit reported last week and the 10 percent improvement in 2009 earnings — Nordstrom said, “It’s a lot better to be here today than it was a year ago.”” read more

Lady Gaga’s Interest in Millinery, JCP’s Future Looking Strong, Wal-Mart and A&F Better Than Expected, Coach and Target Settle Lawsuit, Vena Cava’s Garage Sale

Lady Gaga (Vogue)

(Vogue)Lady Gaga and Milliner Philip Treacy

“Lady Gaga is set to take her relationship with fashion to the next level, by learning to create her own unique headwear under milliner Philip Treacy. The singer has applied for an internship with Treacy after the two worked together on several headpieces to accompany her extravagant stage outfits.” read more

(WWD)Penny Reports Strong Performance

With all the new trick’s up their sleeves, re: JCP’s deal with Liz Claiborne, the department chain is really re-vamping not only merchandise, but even their image- We’re excited to see what’s coming! “The consumer is no longer in hiding, but they’re being very pragmatic in terms of the way they shop,” said Myron E. “Mike” Ullman 3rd, chairman and chief executive officer of Penney’s, on a conference call with analysts. “The places [where] we’ve done the best job on price points and given them merchandise, we’ve done well.” read more

(WWD)Wal-Mart, Saks and Abercrombie Beat Street in 1Q

“A varied set of retailers, led by the world’s largest, returned better than expected first quarter results on stronger sales Tuesday. Wal-Mart Stores Inc.’s net income grew 9.7 percent to $3.32 billion, or 88 cents a share. Saks Inc., meanwhile, credited better comps and reduced promotions for its return to the black in the quarter. The New York-based retailer’s profits totaled $18.8 million, or 11 cents a share, versus a loss of $5.1 million, or 4 cents a share, a year ago. Sales gains also helped Abercrombie & Fitch Co. exceed expectations for the quarter, despite reporting a loss. A&F reported a loss of $11.8 million or 13 cents a share. A year ago its loss totaled $59.2 million, or 68 cents a share.”  read more

(style.com)Vena Cava Cleans Out It’s Closets

Vena Cava is having a virtual garage sale which runs June 1 through June 30 (or until it’s sold out).  In true garage sale fashion, there will be items for sale that range from paperbacks, decorations, clothes from the designer’s personal collection and some archived Vena Cava pieces. But we are really curious as to who will purchase Mayock’s birth certificate and Social Security Card!? To buy go to www.venacavanyc.com. read more

(Bloomberg)Settled: Coach vs. Target on Handbag Infringement

“Coach filed the suit last October to impel Target to stop selling the bags. It sought an undetermined amount in damages, injunctive relief and attorney fees in its complaint filed in U.S. District Court in Manhattan. “We respect the integrity of all brands, including Coach, and are pleased that this matter has been resolved in a manner beneficial to all parties involved,” said Rick Darling, LF USA president.” read more

(WWD)Retail Stocks Down 1.4%

Quarterly earnings were reported today and all four retail firms surpassed analysts’ expectations for the just-concluded quarter, but their outlooks for the second quarter and beyond fell short of Wall Street’s projections. ”While retailers reporting results today — including Wal-Mart Stores Inc., Saks Inc., The TJX Cos. Inc. and Abercrombie & Fitch Co. — generally registered improved first-quarter results, all expressed some degree of caution about the strength of the economic recovery.” read more

(WWD)Gucci America President Vitale to Exit

“Gucci America Inc.’s president Daniella Vitale is leaving the company effective May 26. Vitale joined the company in 1999 as vice president of wholesale, and was promoted to president in 2006. In that time, she has been credited with growing Gucci’s retail business in North and South America, as well as Gucci’s philanthropic programs, including partnerships with UNICEF, Tribeca Film Institute, The Film Foundation and Dia Art Foundation.”

Yes the cheat sheet is going out a little late today (only because we have that pesky thing called college graduation throwing a wrench in everything- just kidding Megs VERY proud of you), but better late than never right? Besides, nothing makes me more happy than reading fashion news headlines on a Monday morning– it’s like the beginning of a whole new drama called “welcome to work.” I love it.

What goes up, must come down. H&M profits fall in April. We knew this was inevitably going to happen. H&M the world’s third largest fashion chain saw same store sales drop by 6%, which was better than what analysts had expected at 7.7% in stores opened longer than a year. (Wall Street Journal)

Bump up the Jam. The show, Jersey Shore has risen to new heights and I’m not taking about ratings or the size of those steroid induced guns those overly tanned guys show off on the show. the “Snooki Pouf” is now manifesting itself on the runways of Paris where Nina Ricci, Chanel and Karl Lagerfeld featured the half up/half down ‘do on the runways in March and Tina Fey in “Date Night” (a movie I JUST saw) also rocked a messy version of it. Isn’t it true that if something happens in threes it’s a trend? (NY Post)

Shanghai sets the stage for luxury. It’s no joke- China is literally taking over the world ESPECIALLY when it comes to luxury items. The growing wealthy class have an insatiable appetite for all things luxe and designers as well as other luxury goods brands are positioning themselves to reap the benefits. For example, John Galiano decided to show his resort collection in Shangahai over the weekend because, “[China is an] emerging market and a big player in the field and very thirsty to understand couture, craftsmanship and the savoir faire Français.” Well said, G-Rock. (WWD).

“Oh, oops. Is this the party I so rudely snagged you away from?” I didn’t ask this question, but was certainly thinking it when I saw this post on style.com’s blog. I realized this was THE SAME PARTY (Amy Sacco’s annual Free Arts NYC benefit auction) my Someone Awesome was attending when I demanded he come over with a pint of Ben and Jerry’s and listen to me kvetch about how crap my life is. PS, don’t you think everyone’s allowed one day of self loathing? PPS, how great is S.A. for ditching this party and coming to my rescue? A true knight in shining Adidas indeed. Yay. (www.style.com)

More from the Rebecca Minkoff sample sale. Getting the vibe a lot of thiS merch is from two seasons ago.

The Rebecca Minkoff sample sale is happening down the street from my office. It doesn’t look much different than the handbag section at Nordstrom Rack.

Where I was this morning. Hello 30 Rock/CNBC!

Express Goes Public (NBC)

(NBC) Express Goes Public with Lunchtime Fashion Show in Wall Street

“Express went public today, and to celebrate 30 years in the biz, models rang the bell at the NYSE and this afternoon, they’ll host a fashion show on Wall Street itself. Headliners Alek Wek, Isabel Goulart and Flavia de Oliveira will lead the catwalk down the main thoroughfare of the financial district at 12:30pm, before taking to the streets with “mystery” gift cards loaded with up to $75 — according to Modelinia, there’ll be thousands up for grabs.”

(WWD) Zac Posen May Show in Paris

“The designer told a visitor to his showroom Tuesday that he will show his spring 2011 ready-to-wear collection in Paris where, he said, “they understand my clothes.” Posen cited as an additional reason for the move his inability to secure his preferred time slot during New York Fashion Week.”

(WWD) Nordstrom Earnings Up in First Quarter

“Reporting after the markets closed Thursday, the high-end retailer said first-quarter earnings for the period ended May 1 jumped to $116 million, from $81 million.Sales rose 16.6 percent to $1.99 billion from $1.71 billion, while same-store sales rose 13.7 percent.”

(WSJ) At Gap, Two Brands on Mend, One to Go

“While Gap Inc.’s Old Navy and Banana Republic divisions are showing signs of life, the Gap brand itself continues to struggle with styles that consumers find easy to ignore.This week, Gap is expected to post its first quarterly same-store sales rose in more than five years—the first of Mr. Robinson’s tenure. But a rise, for the quarter ended May 1, would come with the caveat that last year’s quarter was especially bad. The question is whether Mr. Robinson can build on the gains and convince people inside and outside the company that a turnaround is under way.”

(WWD) Urban Outfitters Profits Leap

“Urban Outfitters, which operates the Anthropologie, Free People, Leifsdottir, Terrain and Urban Outfitters brands, on Thursday reported record first-quarter earnings of $53 million. Net income was 31 cents a diluted share, a 72 percent increase over last year’s 18 cents, when earnings totaled $31 million. Glen Senk, chief executive officer of Urban Outfitters Inc., said  “We achieved record sales and earnings, but to do so within the greater context of our longer-term goals of investing in store productivity, e-commerce penetration, international expansion and new brands, is even more satisfying.”"

Talbots Re-vamps It's Image (WSJ)

After slight break from blogging, I’m back! Here is the newest addition to the Style File Group, The Daily Cheat Sheet– where I will be updating you with the latest news in the Fashion Business for your reading enjoyment.

(WSJ) Talbots Politely Shows Granny the Door

“After spending last year atop the retail death-watch list, Talbots Inc. is now a favorite on Wall Street, thanks to cost cuts and a complex financial arrangement for unloading its enormous debt. Chief Executive Trudy Sullivan is attempting to refocus on women 35 and older. Talbots, known for classic apparel targeted at the middle- and upper-class suburban set, still has work to do. Its image had gotten so old that in a customer survey a couple of years ago, women 65 years of age and older said the brand was for “someone older,” says Ms. Sullivan. Making a brand younger is notoriously tricky: Talbots must make its clothes more youthful without alienating its core customers during the transition, and it has to persuade a new swath of women in their 30s and 40s to consider shopping there.Talbots has stepped up its fashion quotient, with offerings that include a sequin-trimmed sweater and leopard-print-lined black booties. So far, it has had some hits and misses. Last spring, “ethnic” prints in bright colors including orange and lime green misfired.”

(WWD) Macy’s Swings to 1st-Qtr. Profit

“Macy’s inc announced Wednesday that it’s profits rose to it’s highest point since the recession. Sales totaled $5.57 billion an increase of 7.2% over last years %5.2 billion while comp store sales rose 5.5%. Even Macy’s online sales were up 34% since last quarter.”

(NYT) Discount Store Is New York Beachhead for Nordstrom

“After more than a century, Nordstrom, the upscale department store chain from Seattle, will make its Manhattan debut on Tuesday. Expect 25,000 pairs of discounted shoes, and an automated checkout line more at home in a supermarket than a purveyor of luxury goods. Like any other Nordstrom Rack, though, only about 25 percent of the merchandise comes from full-line Nordstrom stores. And with the luxury retail business improving, Nordstrom stores have been turning over inventory more quickly than ever.”

(WWD) Urban Outfitters, Kohl’s on the Rise

“The retail rebound appeared to be alive and well Thursday morning as Urban Outfitters Inc. and Kohl’s Corp. both beat first-quarter expectations, posting double-digit gains on both the top and the bottom lines. Urban Outfitter’s earnings jumped 72 percent to $53 million and Kohl’s net income rose 45.3 percent to $199 million.Kohl’s also boosted its full-year profit projections. The chain now expects to earn $3.57 to $3.75 a share, up from the $3.40 to $3.63 previously predicted.”

(WWD) Warnaco Posts Net Gain, Ups Guidance

“The Warnaco Group Inc. on Monday posted a 27.7 percent increase in first-quarter profits and raised fiscal 2010 guidance. Joe Gromek, president and chief executive officer, said, “Looking ahead, we are optimistic about the prospects for our company….In addition to powerful brands, Warnaco possesses a highly efficient business model, an established global infrastructure and an experienced leadership team.” He said in 2010, the company will continue to focus on global expansion and “opportunities to expand our direct operation through strategic acquisitions of key distribution and franchise partners.””

(The Frisky)Chanel Cruises Through Saint-Tropez With Playful Fashion Show

“With a sidewalk outside a patisserie as a makeshift runway, there was nothing theatrically lacking about Chanel‘s cruise 2011 fashion show presented yesterday in the jet-setter’s paradise of Saint-Tropez, France. Karl Lagerfeld substituted his usual black suit for a shiny purple ensemble (but kept the fingerless gloves, bien sûr), models approached the runway by yacht, and teen fashion sensation Georgia Jagger supposedly snuck out of the house to walk in the show, finishing it off with a motorcycle ride down the boardwalk. “