Blackstone Buys Stake in Indian Apparel Co.

In News by MR Magazine StaffLeave a Comment

News

BANGALORE – U.S.-based private equity firm The Blackstone Group has made a deal to buy a 50.1 percent majority stake in Gokaldas Exports Ltd., one of India’s largest apparel companies. The founders of Gokaldas, who previously held a 70 percent share, will remain in leadership positions: Madanlal Hinduja as the …

Eric Jones Leaving Hart Schaffner & Marx

In News by MR Magazine StaffLeave a Comment

News

Eric Jones, executive vice president at the Hartmarx subsidiary Hart Schaffner & Marx, has left the company. Hartmarx CEO Homi Patel, reached for comment this afternoon, confirmed Jones’ departure. “We are sorry to see him go,” Patel said. “He has left to pursue other opportunities.” Patel told MRketplace.com that Jones …

Kohl’s Q2 Looking Good

In News by MR Magazine StaffLeave a Comment

News

MENOMONEE FALLS, Wis. – Kohl’s Corporation announced second quarter earnings per share of 83 cents, a 20.3 percent jump over Q2 2006’s 69 cents per share. Net income increased nearly 16 percent from $232.4 million last year (Q2) to $269.2 million in Q2 this year. Net sales also increased: 8.7 …

Catching Up: Raffi Shaya

In News by MR Magazine StaffLeave a Comment

News

After spending an hour or so recently highlighting the new Hamptons-inspired spring ‘08 RS collection, Raffi (ever the salesman) is trying to drive home a point about impulse purchasing. “This collection is focused, easy to buy and easy to wear,” he insists. I agree, adding that customers today don’t need …

J.C. Penney’s Q2 Up Slightly

In News by MR Magazine StaffLeave a Comment

News

PLANO, Texas – J.C. Penney Co. announced earning from continuing operations in the second quarter of 2007 at 78 cents per share, a slight rise over the same time last year’s 75 cents per share. The company credits a healthy back-to-school season start. “We are also pleased by the positive …

Nordstrom Makes Modest Gains

In News by MR Magazine StaffLeave a Comment

News

SEATTLE – Nordstrom Inc. reported second quarter earnings of 71 cents per share, or $180.4 million, a modest six percent gain over last year’s 67 cents per share, or $178.8 million. Nordstrom’s total second quarter sales of $2.39 billion were a 5.2 percent gain over the second quarter of 2006’s …

Exclusive Show Sold to Parent of MR Magazine

In News by MR Magazine StaffLeave a Comment

News

New York — Business Journals, Inc, parent company of MR Magazine and MRketplace.com, announced today that it has purchased certain assets of The Exclusive trade show. The deal will be effective after the upcoming run of the Exclusive, August 26-28 at the Venetian, which will be its last. A new …

Obituary: Dave Ryan, 58

In News by MR Magazine StaffLeave a Comment

News

BOSTON – Dave Ryan, a veteran menswear salesman, died on Monday at Brigham and Women’s Hospital in Boston, Mass., after a three-year battle with cancer. He was 58. A wake will be held on Thursday from 2 to 4 p.m. and 7 to 9 p.m. at the Cartwright Funeral Home …

I.C. Isaacs’ Q2 is Dismal

In News by MR Magazine StaffLeave a Comment

News

NEW YORK – I.C. Isaacs & Company, the company that designs and markets the Marithé et François Girbaud brand of denim apparel, had a miserable second quarter of 2007 with net sales down to $8.5 million from $24.0 million in the second quarter of 2006. I.C. Isaacs is reporting a …

Macy’s Loses Over Merger in Q2

In News by MR Magazine StaffLeave a Comment

News

Macy’s Inc. is blaming the costs involved with integrating the stores it acquired when it bought May Company for its dive in second quarter profits. Net income plummeted to $74 million (16 cents per share) in Q2 from its place in Q2 last year of $317 million (57 cents per …

Blue Holdings Struggling to Hold on

In News by MR Magazine StaffLeave a Comment

News

COMMERCE, Calif. – High-end denim manufacturer Blue Holdings had a disastrous second quarter of 2007 with net sales cut nearly in half from $15.2 million last year to $8.4 million. It gets worse: Net income in Q2 2006 was $1.7 million, versus a mere $7,000 this year. The company’s new …

Imperial/Tugaloo Names Berkman VP

In News by MR Magazine StaffLeave a Comment

News

NEW YORK – Handkerchief and scarf manufacturer Imperial/Tugaloo has named David Berkman vice president and national sales manager. Berkman, a 27-year veteran in the apparel business, comes to Imperial from Y Brands where he was a division president. He has also served executive positions at Mountain High Hosiery and Randa. …

Fossil’s Profits Rise in Q2

In News by MR Magazine StaffLeave a Comment

News

RICHARDSON, Texas – Fossil Inc. reports a net sales increase of 18.2% to $306.5 million in the second quarter of 2007, compared to $259.2 million net sales last year. Gross profit was also up: 18.5% to $150.5 million, the company said in a statement this morning. Net income went up …

Wal-Mart Profits Lower Than Expected

In News by MR Magazine StaffLeave a Comment

News

BENTONVILLE, Ark. – Wal-Mart’s profits are up but lower than expected this quarter. Earnings were $3.1 billion (76 cents per share) in the second quarter, up from $2.08 billion (50 cents per share) last year. Net sales for the second quarter were $91.99 billion, an increase of 8.8 percent over …

TJX Sales Are Up; So Are Data Theft Costs

In News by MR Magazine StaffLeave a Comment

News

FRAMINGHAM, Mass – TJX Companies, parent of discount retailers T.J. Maxx and Marshalls dogged by continuing data theft costs, is reporting increases of 9% in net sales from continuing operations in the second quarter of their fiscal 2008, to $4.3 billion. Income from continuing operations in Q2 was $59 million, …

McConnell Resigns From Advanstar

In News by MR Magazine StaffLeave a Comment

News

NEW YORK – Laura McConnell, Advanstar Fashion Group’s executive vice president since June 2006, has resigned. McConnell helped expand Advanstar’s fashion business, integrating the Project and POOL shows into the MAGIC Marketplace. Advanstar CEO Joe Loggia said in a statement: “Advanstar’s Fashion Group is a vital part of our portfolio, …

Getting Naked

In Opinions by Harry SheffLeave a Comment

A few months ago I saw an underwear spread in another menswear trade publication, and well… my competitive instincts kicked in. When it came time to plan MR’s August 2007 issue, I knew just what had to be done… it was time to get naked. I also knew just who to call. …

Barneys To Open More U.S. Stores

In News by MR Magazine StaffLeave a Comment

News

DUBAI – Reuters is reporting that Istithmar, the Dubai-based investment group that won the bidding war for Barneys New York, is planning to open five new locations in the U.S. The investment group’s CEO David Jackson reportedly told a Dubai radio station: “We can probably open three to five stores …

Swank’s High Sales Checked by Taxes

In News by MR Magazine StaffLeave a Comment

News

NEW YORK – One hundred ten-year-old fashion accessory company Swank Inc. reported higher net sales in the second quarter of 2007 compared to the same time last year, but lower net income as a result of income tax provisions. Net sales were up, $29.2 million in Q2 versus $26.4 million …