August 1, 2002
Women's Wear Journal
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by Pete McKeown
This Newsletter is Read by an
average 12,140 Readers per issue.
with over 13,000 Hits Per
Fact: There are over 300,000 clothing
factories in developing
Approximately 50,000 are export-capable
VF Corp, the world's largest
jeans maker, reported second quarter earnings of $88.9 million
compared with $69.4 million a year ago.
The firm, which makes Lee and Wrangler jeans, as well as Vanity Fair
lingerie and North Face outerwear, benefited from cost cuts and the
reorganisation of its business.
not be as well-known as its Hollywood celeb counterpart, but the Fashion
Walk of Fame -- which stretches along Seventh Avenue from 41st street to
35th, and, as of today, now includes 24 inductees - does hold a good
amount of importance in the fashion community.
BETSEY JOHNSON (L) and LULU JOHNSON (R)
"This is the most memorable day of my life!" exclaimed Betsey
Johnson, who was one of the eight American designers honored with a
concrete-bound plaque at a breakfast reception in the Bryant Park Hotel
this morning. "I'm thrilled people are going to be walking on
me," she added, eliciting laughter from the crowd.
textile giant Guilford Mills Inc announced on Friday it has filed a reorganization
plan it hopes will help it emerge from Chapter 11 bankruptcy protection by
September 30 - the end of its fiscal year.
plans to sell clothing for both men and women in around 40 of its
Express stores in an attempt to lure male shoppers.
The first of the new stores are due to open by early August, and the
change will be backed by Limited's first national television advertising
"The whole idea of shopping in groups, making it a date, is
transforming that mall experience that had been routine," says Ed
Razek, Limited Brands's chief marketing officer. "Guys enjoy the
experience of shopping with women. It's fun to watch them try things
A boy peeks through the window where live
"mannequins" model the latest fashions behind the glass front of
a boutique in Santiago. Store owners have resorted to using
real models to boost their businesses
economy still sputtering, consumers are holding back on spending.
Department stores are really feeling the pain and it isn't just about the
economy it's about a change in the total retail landscape. Department
stores need to adapt.
More than 250 workers at
Jacobson Stores Inc left the company as the department store
chain prepares itself for sale or liquidation.
Employees who lost their jobs represent more than half of those based at
the Jackson headquarters and include marketing, buying and information
technology positions, as well as one-third of the Florida distribution
centre staff. The firm earlier this month warned 500 employees they may
lose their jobs by early September.
Jacobson Stores, which has a total workforce of more than 3000, filed
for Chapter 11 bankruptcy reorganization 15 January. It has since fallen
behind on loan repayments as officials had been looking to find a buyer
or liquidate the company.
However Jacobson Stores Inc has failed to find a buyer for its business
and is instead hiring a liquidator to sell all merchandise and fixtures in
its warehouses and 18 stores.
Sales Rise in June
After a cool spring that kept shoppers at bay, rising temperatures in June helped many retailers score better sales than they have in months.
As the numbers rolled in this week, Limited Brands was a particular stand-out, with same-store sales up five percent for the five weeks ended July 6, 2002. Net sales climbed eight percent, to $858.7 million. The company's flagship division saw the most business, with a 13 percent leap in same-store sales. Express' same-store sales rose seven percent, and Victoria's Secret's increased six percent.
However, troubled retailer The Gap reported its 27th consecutive month
of sliding same-store sales in June, with a drop of six percent. This
beat analysts' expectations of a more than nine percent decline,
however, and total sales did climb two percent, to $1.32 billion.
Model wannabes hit the sands of South Beach last weekend for
Elite Model Management's Elite Look 2002 US Finals.
About 400,000 new faces are scouted from over 50 countries to vie for
the Elite Look Model of the Year Award and a $150,000, two-year
contract. 14 World finalists also get contracts.
There's quite a pretty precedent here: Many of the industry's notables
have been discovered in the contest, including Linda Evangelista, Cindy
Crawford, Stephanie Seymour and Gisele Bundchen.
Wacoal expands in Japan
Dwindling numbers of department stores and supermarkets - key
retail outlets for Wacoal Corp - are prompting the Japanese lingerie maker
to open its own stores.
Wacoal today said it would invest 7.0 billion yen ($60.2m) on 160 new
Japanese shops under its direct management in fiscal 2003/2004.
The number of shops selling Wacoal products fell to 5,800 at the end of
fiscal 2001/2002 from 6,200 at the end of fiscal 1998/1999. The knock-on
effect was a decline in lingerie sales which fell by 8.2 billion yen
($70.5m) to the end of fiscal 2001/2002.
ankrupt retailer Kmart continued to struggle in June, posting
same-store sales down 8.7 percent, while discount competitor Wal-Mart
saw a 7.9 percent increase and announced Monday that it expects to
report a five to seven percent rise for July.
Kmart's net loss was $137 million, on sales of $2.33 billion. That's not
only a drop from last year, but even from last month. In May, Kmart
posted a loss of $96 million, on $2.6 billion.
Kmart filed for Chapter 11 in January. The 283 stores that it has since
closed were not included in these same-store sales figures.
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