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.”