Welcome to our selection of great stories and news of the week. On this section you will be able to read and connect to stories that have been carefully selected to provide you with great knowledge and awareness about the fashion world. We hope that with this information you will be able to benefit by knowing what is going on within one of the most dinamic industries: The industry of fashion and clothing, apparel, wholesale apparel, wholesale juniors clothing, wholesale clothing, and therefore have better purchasing decisions for your clothing store or clothing boutique in terms of colors, styles, brands and much more. Enjoy!
Charlotte Russe Faces Challenging Frontier
Charlotte Russe Faces Challenging Frontier
It all started early this year, when Charlotte Russe Holding Inc. buyers rolled the dice and gambled. For pre-Fall, they decided to bring in a larger mix of subdued merchandise marked by a muted-color palette rather than totally embrace the bold, bright colors being sold by other retailers catering to the juniors market.
When teens hit the Charlotte Russe stores in June to peruse the clothing rounders, those neutral tones didn’t translate into big sales. During the three months ending June 26, same-store sales skipped a beat, dipping 6.5 percent from the same-year-earlier period.
One month later, the company’s longtime chief executive, 59-year-old Mark Hoffman, was out the door. On July 20, days before a national conference call was scheduled to discuss the company’s third-quarter earnings results, Hoffman abruptly announced he was retiring after seven years with the San Diego–based retailer, which is named after a French dessert.
Now the company is in search of a new chief executive and a way to earn back customers in one of the most challenging retail climates experienced in recent years. The company’s stock is trading at around $13, slightly above its 52-week low of $12.05 on July 24 and far from its 52-week high of $20.61 on Feb. 25.
“There are some definite challenges out there, but the business isn’t broken,” said Liz Pierce, an analyst who covers Charlotte Russe for Roth Capital Partners in Newport Beach, Calif. “We are just in a very difficult retail environment, heading into the most important time of the year with significant headwinds.”
Like most mall-based chains, Charlotte Russe has been fighting for every sales dollar it rings up. Even though net sales rose 12 percent during the first nine months of this fiscal year to $616.5 million, the company’s net income declined 11 percent to $24.5 million, compared with the same period last year. Still, the company had a profit, and it has no long-term debt.
But already, Charlotte Russe executives estimate that same-store sales during the next three months will be down. Interim Chief Executive Leonard Mogil, a board director since 2001 who has stepped in on a temporary basis, noted that he expects comparable-store sales to slide by single digits during the company’s fourth quarter. “That said, our merchants feel positive about our Back-to-School assortments that arrived in stores this week [July 20],” Mogil said in a conference call.
When store executives saw their June merchandise falter, they quickly started taking markdowns and rushed in Fall goods.
Management Changes at Jones Apparrel Group
Jones Apparel Group (www.jny.com), a Fortune 500 Company, is a well-known designer, marketer and wholesaler of branded apparel, footwear and accessories. Jones is best known for their brands including Nine West, Anne Klein and Jones New York. (For full list of brands see bottom of page) Based in Bristol, Pennsylvania, Jones Apparel Group also runs four offices in New York City. Jones has been in business for over thirty years, and markets directly to the consumers by using chains of specialty retail and value-based stores.
Recently there have been many changes to the Jones Apparel Group that have had an impact on the industry. On February 13th, 2008 it was announced that the l.e.i brand, owned by Jones Apparel Group, Inc. will soon be carried in Wal-Mart stores across the nation. Beginning in the summer of 2008, l.e.i. clothes will be offered to juniors, junior pluses and girls for the back-to-School shopping season. L.e.i is a teen clothing brand that stands for Life, Energy, Intelligence. This brand has been well known among teens, especially for their denim designs, and was previously available in the department store markets.
Since Jones acquired l.e.i in 2002, the brand has been declining in popularity. The deal to buy l.e.i was worth $385 million. Changing the image of l.e.i. was put on Jack Gross, who became CEO of Jones’ denim and junior segments in January of 2006. Gross put l.e.i more into the Jones’ company operations, but sales were not improving. L.e.i sales, which started at $248 million, have fallen to $70 million, and even the attempt to make the brand more youthful has fallen on deaf ears. “The branding that we had in the national chain channel went a little too youthful," said Gross. "I believe the junior customer is not 13 to 17, it's 13 to 24 or 25 years old. We enhanced the branding to encompass the broader age group of the junior consumer."
The l.e.i sales in Wal-Mart stores will hopefully bring up sales for Jones in the future. Retail of the pants will be under $20.
Another major change to the Jones Apparel Group has been the announcement of new Vice President of Design for Anne Klein New York. Ted Kim, who previously worked as Senior Designer for the Michael Kors Collection, was chosen for this position on February 18, 2008. As Vice President of Design, Kim will be in charge of overseeing the design functions for Anne Klein New York Sportswear. In the spring of 2009, Kim will be presenting his first line.
Another company of Jones Apparel group, Nine West, has also presented a new addition to their team. On February 29, 2008, Richard Paterno, 50, was announced as the newly created President of Wholesale Better Footwear Brands starting March 31, 2008. Paterno has been in the industry for over thirty years, and recently served as President and CEO of Rockport. He has previously worked as President of Easy Spirit.
Paterno will be overseeing sales management and business strategy for Nine West’s better wholesale footwear businesses such as Nine West, Bandolino and Easy Spirit. Paterno will report to Andrew Cohen, Chief Executive Officer of Wholesale Footwear and Accessories.
Also, Nine West Group brought in Patrick McLaughlin as president of Nine West and Boutique 9 Wholesale, starting on March 3, 2008. McLaughlin, as well as other heads of wholesale better footwear divisions, will report to Paterno.
Written By McCalla, Megan Katherine
Valentino says Good Bye
Italian designer Valentino waves at the end of his final Spring/Summer 2008 Haute Couture fashion collection in Paris January 23, 2008. Fighting back tears, Valentino waved goodbye to the fashion world on Wednesday with a haute couture show brimming with the glamour that made him a favorite with Hollywood stars, socialites and royalty for half a century.
Italian designer Valentino stands with his models and waves at the end of his final Spring/Summer 2008 Haute Couture fashion collection in Paris January 23, 2008.
Fashion Wire Daily - Mon Jan 14, 4:34 PM ET
Milan - Word up to Pete Doherty. If you had enjoyed a private education and were obsessed with Russian Futurism, this Gucci collection is what you would be wearing today.
Gucci and Prada show in Milan AP - Mon Jan 14, 4:29 PM ET
MILAN, Italy - Prada and Gucci have often been at opposite ends of the fashion spectrum — minimalist versus maximalist, or translated into the vernacular, plain versus showy.
Spice Girls get a flavor of Cavalli Reuters - Mon Jan 14, 4:11 PM ET
MILAN (Reuters) - Britain's Spice Girls turned out to watch Roberto Cavalli's winter 2009 menswear show on Monday and he didn't disappoint them, including in his show a gorgeous green evening shift and a black satin Cinderella gown for women.
Spice Girls attend Cavalli show in Milan AP - Mon Jan 14, 2:18 PM ET
MILAN, Italy - The Spice Girls pepped up the Milan fashion scene Monday when they turned up at Roberto Cavalli's menswear show to thank him for designing their tour wardrobe.
Prada: Schizophrenic Style Fashion Wire Daily - Mon Jan 14, 11:44 AM ET
Milan - Sunday evening witnessed a most curiously schizophrenic collection by Prada in Milan's season of fall 2008 men's collections.
Edwardian Ferre Fashion Wire Daily - Sun Jan 13, 4:34 PM ET
Milan - Milan's big men's wear debut this season was at Gianfranco Ferre, where Lars Nilsson presented his first ideas for the venerable house.
New look, old skills at Ferre men, Emporio on slopes Reuters - Sun Jan 13, 1:34 PM ET
MILAN (Reuters) - Lars Nilsson, hired to head designer Gianfranco Ferre after the founder's death last year, broke with tradition and used a presentation instead of a catwalk show on Sunday for his first collection.
Fashion Rio: Cavendish's Secret Garden Fashion Wire Daily - Fri Jan 11, 4:58 PM ET
Rio de Janeiro - Our favorite women's collection so far at Fashion Rio, even if it garnered tepid applause, has to be Cavendish, staged late Wednesday night in the world's most exotic metropolis.
Simple, Functional Accessories Reign Over Bling Fashion Wire Daily - Fri Jan 11, 1:59 PM ET
New York - Oversized handbags, candy colored patent leather, delicate gold filament jewelry, vintage brass and plastic or enamel cuffs were just some of the major accessory trends at the Accessorie Circuit tradeshow this week, held Jan. 7-9 in New York.
Sportswear for Sophisticated Ski Bums at Calvin Klein Fashion Wire Daily - Wed Jan 9, 5:51 PM ET
New York - But for fall, the reverse is the case, and at any first sign of a crispness in the air there's nothing more satisfying than being enveloped in a safe, cocoon-like bundle of an oversized sweater, or redefining summer's skivvy silhouette with a piece of clothing more pronounced and structurally-driven.
Ecofashion wins on runway, helps farms AP - Fri Jan 4, 6:12 AM ET
SAN FRANCISCO - In a workshop in the city's Mission District, Ally Beran's team of fashion designers is sprawled out over buttons and spools of thread, hoping to stem global warming by stitching new outfits from thrift store finds.
Fashion Rio Opens With Victor Dzenk Fashion Wire Daily - Wed Jan 9, 11:55 AM ET
Rio de Janeiro - Mick Jagger and Marlene Dietrich might seem like unlikely partners, but in the hands of designer Victor Dzenk, they turned out to be a smart inspirational pairing in his snappy and amusing show that opened Fashion Rio on Tuesday.
On with the Show: At the Critics' Choice Awards Fashion Wire Daily - Tue Jan 8, 4:44 PM ET
Santa Monica - What happens when America's movie critics throw an awards party? Everyone comes, of course!
Macy's Closing Nine Stores
By David Moin
Macy’s Inc. will close nine underperforming stores within the next several weeks, affecting just under 900 workers. Most of the stores are in malls where Macy’s sees little growth potential and extensive retail vacancies. In addition to the closures, there has been speculation that Macy’s may embark on other cost-cutting maneuvers, such as consolidating certain regional operations. One source said that could include Macy’s regional headquarters in Miami and Atlanta. Macy’s would not comment on the speculation. In a statement Friday, Terry J. Lundgren, chairman, president and chief executive officer of Macy’s Inc., said, “While the decision to close stores is difficult, it is necessary that we do so selectively in locations with declining sales and where we have been unable to identify sufficient growth opportunities. At the same time, we continue to open new Macy’s store locations in communities where we believe we can operate successfully.”
“While the decision to close stores is difficult, it is necessary that we do so selectively in locations with declining sales and where we have been unable to identify sufficient growth opportunities."
He also indicated that Macy’s opened 10 new stores and one furniture gallery in 2007, and that in 2008, the retailer expects to open five stores, with an additional six to eight new locations planned for 2009.
The stores being closed include three in Ohio, in Rolling Acres Mall, Akron; Canton Centre, Canton, and Randall Park Mall, North Randall. Two Texas stores are being closed in Valley View Center, Dallas, and Sharpstown Center, Houston.
The others being shut down are in Washington Square, Indianapolis, Ind.; Prien Lake Mall, Lake Charles, La.; Crossroads Mall, Oklahoma City, Okla., and Family Center at Riverdale, Riverdale, Utah.
The nine stores are separate from the duplicate locations that Macy’s has been disposing of since its acquisition of May Department Stores in 2005. Of the 80 duplicate locations earmarked, Macy’s has disposed of about 70, and could decide to retain some of the remaining ten units.
Fashion Wire Daily - Thu Dec 20, 7:29 PM ET
New York - "We wanted to link makeup back to fashion," said Kevin Carrigan, creative director of ck Calvin Klein and the new ck Calvin Klein beauty collection, at a presentation in Calvin Klein's New York offices on Dec. 19. The new beauty line, currently available in Europe and in select Macy's and Dillard's stores in the U.S., launches nationwide at Sephora in January 2008.
H&M Links with Rihanna, Jade Jagger in AIDS Fight Fashion Wire Daily - Thu Dec 20, 6:14 PM ET
Paris - H&M and Designers Against AIDS are linking up with a gang of creative types, including Rihanna, Timbaland and Jade Jagger, to create a cotton collection for guys and girls.
Fashion Wire Daily - Thu Dec 13, 5:51 PM ET
New York - With glamorous gowns displayed like elegant sculptures in her New York showroom, Reem Acra joined the increasing number of designers doing formal presentations for their pre-fall collections, the transitional season that retailers use to bridge spring/summer and fall collections.
New York - Subtle Asian-inspired elements were the basis of the Luca Luca Pre-Fall ’08 collection, presented in their New York store on Madison Avenue on Tuesday, Dec. 11.
Fashion Wire Daily - Mon Dec 10, 3:21 PM ET
New York - A rose is a rose, and a perfume is a perfume, right? Well, not if it's the "World's Most Expensive Perfume." Clive Christian No. 1 was awarded the Guinness World Record for being the most expensive perfume on Saturday, Dec. 8, at Saks Fifth Avenue in New York.
Spies Like Us: Haute Tech Fashion Fashion Wire Daily - Mon Dec 10, 11:04 AM ET
New York - Fans of the ABC television series "Alias" knew that no covert operation would be complete without a suitcase containing at least one high-tech outfit change - and an identity-obscuring wig - for Sydney Bristow, the spy played by Jennifer Garner.
Posen's Punk Poodles Fashion Wire Daily - Wed Dec 5, 2:55 PM ET
New York - Zac Posen continues to establish himself as a designer who can do over-the-top, camp and sassy, and yet still have the end result be couture-quality with tailoring, fit and detailing on par with a Paris atelier.
Oscar de la Renta's Fanciful Fall Florals Fashion Wire Daily - Tue Dec 4, 2:27 PM ET
New York - Florals for fall was the big message at Oscar de la Renta's pre-Fall 2008 collection, which the designer showed to an audience of press, buyers and socialites on Park Avenue in New York on Monday, Dec. 3, who sat theater-in-the-round style around the runway.
Looking for America, product by product AP - Mon Dec 3, 2:58 PM ET
"Iconic America: A Roller-Coaster Ride Through The Eye-Popping Panorama of American Pop Culture (Universe/Rizzoli, 368 pages, $60), by Tommy Hilfiger with George Lois: Our world today is one of fragments, niches, products, icons — this much is obvious. Far less evident to Americans as consumers is how these fragments — bit by bit, year by year — shape and add texture to our lives.
Esteban Cortazar is new Ungaro designer AP - Fri Nov 30, 12:22 PM ET
PARIS - Esteban Cortazar has been selected by French fashion house Emanuel Ungaro as its new chief designer for womenswear.
Designer Accessories Get Bold Next Spring Fashion Wire Daily - Thu Nov 29, 3:14 PM ET
New York - Neiman Marcus offered peak at next spring's biggest accessory trends at their semi-annual preview on Wed., Nov. 28. For a break from thinking about holiday gifts, here's what's topping their list of top designer trends when the weather warms up. Take the plunge and get creative next spring.
Victoria's Secret shows plenty on TV AP - Thu Nov 29, 2:17 PM ET
LOS ANGELES - It might be too much to devote an hour of prime-time television to long legs, taut tummies and half-bare bottoms and bosoms. So the Victoria's Secret fashion show incorporates elaborate staging and musical performances.
Hedi Slimane back to "rock" Paris Reuters - Thu Nov 29, 11:30 AM ET
PARIS (Reuters Life!) - French fashion designer Hedi Slimane, whose razor-thin black suits have changed the way men dress, is back in Paris but not on a catwalk.
Designer to the stars faces rape charges in NY Reuters - Thu Nov 22, 4:41 AM ET
NEW YORK (Reuters) - An award-winning fashion designer to the stars who is accused of sexually assaulting 18 young models in California has been charged with assaulting nine more women in New York, prosecutors said on Wednesday.
Green is the new black for savvy consumers, retailers Reuters - Wed Nov 21, 6:05 PM ET
TORONTO (Reuters Life!) - Global warming may not only affect climate and the environment, it will also have an impact on clothes and fashion, according to design and retail experts.
Julia Roberts designs a first in Armani bracelet Reuters - Wed Nov 21, 2:32 AM ET
MILAN (Reuters) - "Pretty Woman" star Julia Roberts has designed a bracelet for Giorgio Armani to sell for World AIDS Day, the fashion house said on Tuesday.
Islamic fashion not only for faithful, designer says Reuters - Mon Nov 19, 2:53 AM ET
KUALA LUMPUR (Reuters Life!) - Islamic fashion is broadening its appeal beyond the faithful as women everywhere are increasingly drawn to its flowing lines, says renowned Malaysian designer Melinda Looi.
Malaysian couture out to wow the Middle East Reuters - Fri Nov 16, 4:00 AM ET
KUALA LUMPUR (Reuters Life!) - Malaysian couture designers are drawing on their country's Islamic heritage to lure wealthy Gulf Arab fashionistas seeking a conservative, yet contemporary, alternative to Western luxury brands.
Spice Girls strut down Victoria's Secret runway Reuters - Fri Nov 16, 3:00 AM ET
LOS ANGELES (Reuters) - While difficult to upstage nearly nude supermodels strutting down a catwalk, the Spice Girls stole a share of the spotlight on Thursday as they kicked off a reunion tour with a warm-up at the Victoria's Secret fashion show.
Just A Minute With: Tommy Hilfiger Reuters - Thu Nov 15, 11:36 AM ET
STOCKHOLM (Reuters Life!) - Fashion designer Tommy Hilfiger says that if he had not ended up making clothes he probably would have made movies.
Just A Minute With: British fashion designer Zandra Rhodes Reuters - Thu Nov 15, 6:08 AM ET
LONDON (Reuters Life!) - British fashion legend Zandra Rhodes, now making her UK debut as an opera set and costume designer, is feeling sad -- too many of her fellow designers are deserting London for Paris.
Darling, you look good enough to eat.. Reuters - Mon Nov 12, 1:14 AM ET
NEW YORK (Reuters Life!) - For hard-core chocoholics, it was the fashion show that quite literally took the biscuit.
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