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LaSenza opens in Poland
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Rio's Fashion week
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Sara Lee's Intimates Fall
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Wachner wants $25 Million
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K-Mart Banks on Joe Boxer
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Fredericks Submits Re-organization
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        August 15,  2002                                 Issue #79



         Mcpete Sez, 
  
The Lingerie Newsletter 
                   & 
    Women's Wear Journal
                         

                 

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Sara Lee Corp. said Thursday its fourth quarter earnings fell to $351 million, or 43 cents a share, as the company continues a two-year corporate overhaul.  The Chicago-based company, whose products range from Hillshire Farm sausages to Kiwi shoe polish to Playtex bras, has laid off more than 20,000 workers in two years as part of a reorganization.

La Senza Lingerie to Open Stores in Poland
MONTREAL, QUEBEC--La Senza International Inc. announced today that it has granted a master license to a company in Poland for the establishment and operation of La Senza Lingerie stores throughout that country. 
The first store is expected to open in a major regional shopping center close to Warsaw, by the end of this year. 
Poland, with a population of 38 million people not only enjoys the largest market in Central Europe, but has had an economic growth that is twice the European Union average, over the past ten years. 


            
Rio's Fashion week
                   
Models wear creations of the summer collection of Brazilian fashion brand Coopa-Roca during the Rio Fashion Week in Rio de Janeiro, Brazil. Coopa-Roca is a cooperative of seamstresses from Rocinha slum in Rio de Janeiro

    
Models wear swimsuit creation's of the summer collection of Brazilian fashion brand Salinas during the Rio Fashion Week in Rio de Janeiro

                      
A model wears a creation of the summer collection of Brazilian fashion brand Lenny during the Rio Fashion Week in Rio de Janeiro, Brazil

                        
1/6
SPESA To Launch Major Technology Exhibition 
                                 In 2004
The US industry has another technology show to look forward to with today's news that the Sewn Products Equipment & Suppliers of the Americas (SPESA) is to organise and produce a new triennial machinery and services exhibition and conference.
Scheduled for 18-20 May 2004 at the Miami Beach Convention Center, Miami, Florida, the event will rotate with other triennial trade events serving this industry in Japan (spring 2002) and Germany (spring 2003).





39/48

Report: Summer Retail Activity Heats Up Web
Heavy promotions and midsummer sales are driving Web surfers to the sites of brick-and-mortar retail chains during a traditionally slow shopping season, according to a new report from Nielsen//NetRatings 
For example, the research firm said, traffic to OfficeDepot.com more than doubled during the week ended July 21st compared with a week earlier. Electronics retailer CompUSA.com and apparel shop Nordstrom.com each saw traffic increases of more than 50 percent. 


               
PLAYBOY ANGELS AT THE PLAYBOY AND MICHELOB LIGHT STAR-STUDDED CELEBRATION OF "A MIDSUMMER'S NIGHT PLATINUM DREAM."

Sara Lee Intimates, Underwear Sales Fall 13 Per Cent
Sara Lee's Intimates and Underwear business finished fiscal 2002 with strong sales and profit gains from its core underwear and intimates operations the company said today. For the year overall, however, sales dropped 13 per cent from $7,452m to $6,455m and operating income dropped 20 per cent to $676m from $844m a year earlier. 

Frederick's of Hollywood Submits Reorganization Plan for Court Approval
Legendary Lingerie Company Reaches Major Milestone Towards Emerging from Chapter 11
HOLLYWOOD, Calif.-- Frederick's of Hollywood announced that it has filed a reorganization plan with the U.S. Bankruptcy Court. The plan filed by the company provides for the creditors to consensually convert substantial debt to equity, and provides a platform for the company to emerge from Chapter 11 bankruptcy following bankruptcy court approval. 
The key elements of the plan include: the conversion of significant debt to equity by the company's lender group and general unsecured creditors, a liquidity provision established by members of the company's lender group, budgeted capital and marketing expenditures and the anticipated continuation of the company's senior management team.
Both the unsecured creditors' committee and the company's secured lenders are expected to support the proposed plan.
Frederick's CEO and President Linda LoRe stated, "We are excited about this plan, it will allow an icon of American retailing to emerge from Chapter 11 and continue on a path of growth and re-branding. This is a sensible plan which includes investment for future growth of the company, including capital expenditures for new stores, new 
Since 1946, Frederick's of Hollywood has been the leading innovator in the lingerie industry, creating many of today's top lingerie merchandise such as the push-up bra and thong panty. Customers can shop for Frederick's of Hollywood merchandise at its 172 stores, via catalog and online.



15/24
 
     
Wachner Wants $25 Million
When Warnaco canned Linda Wachner last November, five months after the company filed for Chapter 11, the board did not pay her severance. Now, the fiery exec is fighting back, and has filed new court papers demanding $25.1 million and claiming she was fired without cause.
Wachner rose to the helm of Warnaco after a hostile leveraged buyout in 1986, becoming the first woman to run a Fortune 500 company. She transformed the $425-million apparel group into a $2 billion manufacturer whose leading apparel brands include Speedo swimwear and Calvin Klein underwear. The company went public in 1991.

     Low Inventories Hurt Retail Sales 
NEW YORK - Lean inventories and consumer skittishness dampened July sales for many retailers but helped profits as merchants didn't have to resort to heavy discounting to get rid of shorts and T-shirts to make room for back-to-school items. 
As the nation's largest merchants reported their July sales for the month on Thursday, even the discounters like Wal-Mart Stores Inc. stumbled. The month, typically not busy as stores clear out their summer leftovers, was slower than usual. Stores have maintained lean inventories, and given strong June sales, there wasn't much to move out in July. 
Wal-Mart, the world's largest retailer, reported that sales at stores open at least a year, known as same-store sales, were slightly below Wall Street expectations.
Department stores and mall-based apparel stores again suffered, particularly Federated Department Stores Inc., May Department Stores Inc. and Gap Inc., all of which announced that their sales declines were steeper than what Wall Street expected. 
"The good news is that retailers had good profit margins, but the bad news is that they gave up a lot of the top line," said Richard Jaffe, an analyst at UBS Warburg Securities. He estimated that retailers ended July with 10 percent to 15 percent less inventory than the year-ago period. 

Kmart Banking on Joe Boxer's Appeal 
DETROIT - Kmart Corp. is turning to the popular, smiley faced, Joe Boxer underwear brand to attract customers and help it through the back-to-school selling season, one that analysts said is critical for the bankrupt retailer. 
Joe Boxer could be just what Kmart is looking for to help it boost sales, Kaplan and others said. 
Kmart's partnership with Joe Boxer was announced months before Kmart's Jan. 22 Chapter 11 filing. Thursday, Kmart held a fashion show in New York to show off some of the Joe Boxer clothing, underwear and home products it began selling late last month. 
                    
 


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