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Articles Of Interest
J.C. Penney goes plus size
Express drops lingerie
The Smart Bra
Wal-Mart on track
Penney's Profits up
Lingerie in Paris
Thongs at 30,000 feet
Nude protester brave the snow
West Coast Watch
Anna Nicole's Day
Largest Nude Wedding
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March 1, 2003
Women's Wear Journal
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JC Penney In Plus-Size Apparel Pact With Kellwood
Department store chain JC Penney Co on Tuesday announced it will carry an exclusive line of fashionable plus-size women's clothes designed by plus-size model Emme and produced by Kellwood Co.
The Texas-based retail giant said the True Beauty apparel line will include sportswear, dresses and intimate apparel for sizes 14 to 24, and be available this spring in 500 Penney stores with an average retail price of $45.
Former Gap CFO Gets $1.15m Severance, To Repay Loan
Berkshire's $579m Battle For Burlington
Troubled textile giant Burlington Industries Inc filed a proposed Chapter 11 plan based on Warren Buffett's $579 million bid, although he faces stiff competition from rival bidder WL Ross & Co.
The plan provides for Buffett's Berkshire Hathaway Inc to buy all of Burlington's equity in exchange for the cash offer with the monies used to pay off its creditors.
However, Burlington wants to hold an auction for other interested parties in April while WL Ross chief, Wilbur Ross, yesterday called on the firm to reconsider its decision to go with the Berkshire bid and warned of possible litigation.
WL Ross is the lead member of Burlington's creditor's committee and has also proposed a way to bring it out of Chapter 11 which it entered in late 2001 under $1.1 billion of debt amid a wave of cheap textile imports.
"Buffett is famous for buying dollar bills for 50 cents," Ross said. "We believe his offer is inadequate and apparently so do a number of other unsecured creditors."
He added holders of more than $120m of unsecured claims have told him to reject the bid.
UK: Retailers Enjoy Healthy January Sales
UK retailers enjoyed buoyant high street sales in January according to figures released by the British Retail Consortium on Tuesday.
The group said retail sales climbed 4.1 per cent on a like-for-like basis with total sales for last month up 6.7 per cent year-on-year.
"The three-month trend rates of growth increased from 2.5 per cent in December to 2.7 per cent in January for like-for-like sales, and remained at 5.4 per cent for total sales," it said.
Express Drops Lingerie
The Express will be dropping the Intimate apparel business which has
been a mainstay for the retailer for the past 4 years and generated $70
million in sales.
Vendors believe that the decision to drop lingerie was to focus its
lingerie business primarily on Limited Brands Victoria's Secret operation,
as they are planning to open another 100 stores in addition to the 900
that are already in operation.
Introducing the smart bra
Well, not yet. But soon. Its trick is that it tightens its own straps when you need more support. The bra is the brainchild of Gordon Wallace of Wollongong University's Intelligent Polymer Research Institute. It's made of wool which is impregnated with a substance that changes its atomic structure so it contracts when the strain on it passes a pre-set level. Professor Wallace made the bra a priority because many women supposedly suffer from upper-body discomfort during exercise.
Read the full story on the New Zealand Herald: Click
It works when you run, play tennis, beat up the paperboy -- but not necessarily when you order the extra large hot-chocolate sunday.
PARIS FASHION MUSEUM DEVOTES EXHIBITION TO DIETRICH.
Paris' Musee Galliera is producing an exhibition this summer devoted to
legendary actress and performer Marlene Dietrich
Romantics Flock to Web for Valentine's Day
Shoppers flocked to the Web this week to shop for Valentine's Day gifts and greeting cards, according to Internet audience measurement service Nielsen//NetRatings.
Traffic to 1800flowers.com surged 84 percent to 428,000 unique visitors, making it the fastest growing Web site used by at-home surfers during the week ending Feb. 9, NetRatings said.
Lingerie site Victorias Secret.com jumped 37 percent to 553,000 unique visitors, while competitor Fredericks.com spiked 17 percent to 323,00 surfers.
Specialty gift site Redenvelope.com surged 26 percent with more than 200,000 unique visitors looking for gift items.
us at the Las
March 31st- April 2nd
Federated Buys Two JC Penney Stores In Hawaii
Retail giant Federated Department Stores Inc announced it had agreed a deal to acquire two JC Penney stores in Hawaii.
The Cincinnati-based company said the two stores in Maui and Hilo will be re-branded and re-open as Macy's stores in fall 2003. Financial details were not disclosed.
Saville 1300, Inc is the manufacturer and wholesale
distributor of the popular silicone Le'Breast
prosthetics/enhancers/Crossover forms, Ultralite, and Authentica
post-mastectomy augmentation breast forms/prosthetics. Wonderform &
SeaShells clear swim silicone breast forms are a huge success with the
Post Mastectomy market. We also continue to supply post-mastectomy stores
with the Ginny Rose bra line. Saville 1300, Inc. provides Le' Breast
silicone breast enhancers/prosthetics to the intimate apparel industry.
Saville 1300, Inc. is a distributor of ladies intimate accessories, which
include shoulder pads, breast prosthetics, breast pads, forms and
Click Here to Visit Us
Wal-Mart Sales on staying on
Wal-Mart Stores Inc. said on Monday an unlikely mix of lingerie
and duct tape
drove sales last week, but a major snow storm that whacked the eastern United States may leave many retailers in the cold this week.
Wal-Mart, the world's largest retailer, said in a recorded update that Valentine's Day (news - web sites) and fears of another terror attack on the United States buoyed same-store sales -- or sales at stores open at least a year -- in the latest week.
Nervous shoppers stocked up on items like bottled water, duct tape, beverages, canned food, batteries, flashlights and first-aid kits as fears of terror attacks swept the nation, the company said.
Wal-Mart kept mum on the effects of the storm that blanketed the eastern United States with as much as two feet of snow by Monday, but Federated Department Stores Inc.
and J.C. Penney Co. Inc. said in their weekly updates that the bad weather nipped at their same-store sales, which are a key measure of retail performance.
However the retail giant Wal-Mart Stores Inc posted a 16 per cent jump in fourth quarter net profit from the year-ago period as it was boosted by higher international sales.
The Arkansas-based operator of more than 4,500 stores reported earnings of $2.53 billion, or 57 cents per share, for the three months to January 31, compared to $2.19bn, or 49 cents per share, in the year prior.
Sales at the world's largest retailer, which averaged sales of
$670m per day last year, climbed 10.7 per cent to $71.07bn
Same-store sales climbed 2.7 per cent with like-for-like sales at Wal-Mart outlets, Supercentres and
neighborhood Markets up 3.3 per cent but down 0.3 per cent at the Sam's Club wholesale division.
Wal-Mart said it was pleased with the performance of its international division which it attributed to strong sales in the UK, Canada and Mexico, adding that currency benefits added only $1m to international quarterly operating profit of $757m.
The retailer added for full-year 2002, it earned $8.04bn, or $1.81 per share, versus $6.67bn, or $1.49 a share, in 2001. Sales rose 12.3 per cent to $244.5bn from $217.8bn with same-store sales up 5.1 per cent.
For the year ahead, it sees earnings per share in the range of $2.00 to $2.05, including the costs of expensing stock options and other one-time items. For the first quarter, it sees 40 cents to 42 cents per share, including the one-time items.
Retailer JC Penney Doubles Q4 Profit
Retail giant JC Penney Co Inc said it more than doubled its fourth quarter net profit to $202 million from $95m in 2001 on the back of better-than-expected holiday sales.
The Texas-based company, which also owns the Eckerd drugstore chain, said in press release sales for the period rose just 0.1 per cent to $9.55 billion as it was hit by a 20.7 per cent drop in catalogue sales.
Comparable department store sales rose 1.9 per cent thanks to strong holiday sales performance and solid apparel sales while
jumped 21.4 per cent to $138 million in the quarter and $381 million for the year.
The firm said it plans to restructure its catalogue operations for which it sees a $40m charge but annual savings of $30m.
Chairman and CEO, Allen Questrom, said: "Our focus is on strengthening our customer franchise through improved merchandise assortments and more powerful marketing programs that deliver superior value, and an enhanced store environment that improves the shopping experience.
"Over the past two years, both department stores and catalogue have increased operating profit margin by about 100 basis points per year, which is a significant accomplishment.
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