After slight break from blogging, I'm back! Here is the newest addition to the Style File Group, The Daily Cheat Sheet-- where I will be updating you with the latest news in the Fashion Business for your reading enjoyment.
(WSJ) Talbots Politely Shows Granny the Door
"After spending last year atop the retail death-watch list, Talbots Inc. is now a favorite on Wall Street, thanks to cost cuts and a complex financial arrangement for unloading its enormous debt. Chief Executive Trudy Sullivan is attempting to refocus on women 35 and older. Talbots, known for classic apparel targeted at the middle- and upper-class suburban set, still has work to do. Its image had gotten so old that in a customer survey a couple of years ago, women 65 years of age and older said the brand was for "someone older," says Ms. Sullivan. Making a brand younger is notoriously tricky: Talbots must make its clothes more youthful without alienating its core customers during the transition, and it has to persuade a new swath of women in their 30s and 40s to consider shopping there.Talbots has stepped up its fashion quotient, with offerings that include a sequin-trimmed sweater and leopard-print-lined black booties. So far, it has had some hits and misses. Last spring, "ethnic" prints in bright colors including orange and lime green misfired."
(WWD) Macy’s Swings to 1st-Qtr. Profit
"Macy's inc announced Wednesday that it's profits rose to it's highest point since the recession. Sales totaled $5.57 billion an increase of 7.2% over last years %5.2 billion while comp store sales rose 5.5%. Even Macy's online sales were up 34% since last quarter."
(NYT) Discount Store Is New York Beachhead for Nordstrom
"After more than a century, Nordstrom, the upscale department store chain from Seattle, will make its Manhattan debut on Tuesday. Expect 25,000 pairs of discounted shoes, and an automated checkout line more at home in a supermarket than a purveyor of luxury goods. Like any other Nordstrom Rack, though, only about 25 percent of the merchandise comes from full-line Nordstrom stores. And with the luxury retail business improving, Nordstrom stores have been turning over inventory more quickly than ever."
(WWD) Urban Outfitters, Kohl’s on the Rise
"The retail rebound appeared to be alive and well Thursday morning as Urban Outfitters Inc. and Kohl’s Corp. both beat first-quarter expectations, posting double-digit gains on both the top and the bottom lines. Urban Outfitter’s earnings jumped 72 percent to $53 million and Kohl’s net income rose 45.3 percent to $199 million.Kohl’s also boosted its full-year profit projections. The chain now expects to earn $3.57 to $3.75 a share, up from the $3.40 to $3.63 previously predicted."
(WWD) Warnaco Posts Net Gain, Ups Guidance
"The Warnaco Group Inc. on Monday posted a 27.7 percent increase in first-quarter profits and raised fiscal 2010 guidance. Joe Gromek, president and chief executive officer, said, “Looking ahead, we are optimistic about the prospects for our company….In addition to powerful brands, Warnaco possesses a highly efficient business model, an established global infrastructure and an experienced leadership team.” He said in 2010, the company will continue to focus on global expansion and “opportunities to expand our direct operation through strategic acquisitions of key distribution and franchise partners.”"
(The Frisky)Chanel Cruises Through Saint-Tropez With Playful Fashion Show
"With a sidewalk outside a patisserie as a makeshift runway, there was nothing theatrically lacking about Chanel‘s cruise 2011 fashion show presented yesterday in the jet-setter’s paradise of Saint-Tropez, France. Karl Lagerfeld substituted his usual black suit for a shiny purple ensemble (but kept the fingerless gloves, bien sûr), models approached the runway by yacht, and teen fashion sensation Georgia Jagger supposedly snuck out of the house to walk in the show, finishing it off with a motorcycle ride down the boardwalk. "
