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LIZ CUTS FORECAST/2 WAL-MART SEES APPAREL BOOST/2 WWDWomen’s Wear DailyWEDNESDAY • The Retailers’ Daily Newspaper • May 14, 2008 • $2.00 Sportswear Fiesta Wear The resort season just keeps getting bigger, and nothing illustrated that like the Christian Dior collection John Galliano showed on Monday. Inspired by Millicent Rogers, Gloria Guinness and Acapulco, the fl amboyant, citrus-colored styles included off-the-shoulder peasant tops, like this dramatic one, sashed over a full skirt and worn with a big hat and assertive jewelry à la Rogers. For more on the presentation, see pages 4 and 5. Finding the Right Fit: Barneys’ Socol Quits, No Clear Successor By David Moin ne of the plum jobs in American Oretailing has just opened up — but it’s rife with challenges. Howard Socol, chairman, president and chief executive officer of Barneys New York, on Tuesday confirmed recent speculation and said he will retire from the specialty chain at the end of June. A search firm will be hired “in short order” to find a replacement, David Jackson, ceo of Barneys owner Istithmar, told WWD. However, with Socol’s decision to resign coming sooner than expected, finding a successor seems a long way off. See Barneys, Page6 PHOTO BY JOHN AQUINO PHOTO BY 2 WWD, WEDNESDAY, MAY 14, 2008 WWD.COM Liz Sees Red in First Qtr. WWDWEDNESDAY Sportswear By Whitney Beckett iz Claiborne Inc. chief ex- Lecutive officer William L. FASHION McComb’s tale of two cities anal- Christian Dior’s resort show at Guastavino’s in Manhattan was a major ogy continues to haunt him. 4 offensive at a wretched moment for consumerism in the U.S. On Tuesday the company post- ed a fi rst-quarter loss of $31 mil- lion, or 33 cents a diluted share, GENERAL down from profi ts of $16.2 mil- Howard Socol has resigned as chairman, president and ceo of Barneys lion in the fi rst quarter of 2007. 1 New York after seven years at the helm of the prestigious retailer. The bottom line was hurt by $44 Wal-Mart Stores Inc. posted higher fi rst-quarter sales and profi ts and said million in restructuring costs. 2 its apparel business is set to kick into high gear with warm spring weather. The results exhibited the same story for the beleaguered The earthquake that struck southwest China caused moderate damage vendor: direct brand sales grew 3 in Chengdu’s retail areas, but is bound to test consumer confi dence. 28 percent to $610 million, while Strength in South America, Eastern Europe and China offset weakness in partnered brand sales slid 14 Juicy Couture’s retail business is doing well, and added stores like the Beverly 6 France as Carrefour posted a 10.2 percent fi rst-quarter sales gain. percent to $501 million. Hills fl agship in 2007. Facing what McComb called Retail sales at specialty stores were up 0.7 percent to $19.02 billion in “a very light second quarter,” the open to buy and managing their taking a substantive approach to 6 April, but fell 0.1 percent to $16.97 billion at department stores. vendor lowered its 2008 adjusted inventories carefully,” Dave integrating sourcing with design, MAINSTREAM: Buyers at Moda Manhattan and FAME said they were earnings per share guidance to McTague, executive vice presi- merchandising, and merchan- 8 waiting longer to place orders and then only buying what they loved. a range of $1.40 to $1.60 from a dent of partnered brands, said. dise planning and allocation.” previous range of $1.50 to $1.70. “The fall of the partnered brands Analyst Jennifer Black, of the WEST: Kate Spade is courting Los Angeles shoppers for the fi rst time “Today, on an apples-to-apples environment will continue to be fi rm that bears her name, thinks 12 with its own stores, part of an ambitious retail rollout this year. basis, you saw an uptick, and we tough, especially on our declin- the revisions are realistic. “Unless Classifi ed Advertisements.............................................................13-15 hit what analysts had been ex- ing brands. We are carefully we go into a depression, this could pecting,” McComb told WWD. watching our exposure to order be a turnaround story,” Black “But the second quarter is always cancellations and markdowns…. said. “The big question is if this is To e-mail reporters and editors at WWD, the address is fi rstname. a tough quarter, and this quarter While we won’t claim success in a 2009 story or a 2010 story.” [email protected], using the individual’s name. will be tougher than normal.” 2008, with careful execution, we Black said she was encouraged WWD IS A REGISTERED TRADEMARK OF ADVANCE MAGAZINE PUBLISHERS INC. COPYRIGHT Sales for the quarter in- are on course for signifi cantly by Juicy’s “extraordinary growth ©2008 FAIRCHILD FASHION GROUP. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. creased about 5 percent to $1.12 improved results in 2009.” and potential” (even proposing VOLUME 195, NO. 103. WWD (ISSN 0149–5380) is published daily (except Saturdays, Sundays and holidays, with billion from $1.07 billion. McTague added there are Juicy could open special stores one additional issue in January, October and December, two additional issues in March, April, May, June, August and Juicy Couture continued its plans to improve all three of for its new intimates line), Kate November, and three additional issues in February and September) by Fairchild Fashion Group, which is a division of growth streak with revenues in- the worst performing brands Spade’s prime segment given the Advance Magazine Publishers Inc. PRINCIPAL OFFICE: 750 Third Avenue, New York, NY 10017. Shared Services provided by Condé Nast Publications: S. I. Newhouse, Jr., Chairman; Charles H. Townsend, President/CEO; John W. Bellando, creasing 58 percent to $140 mil- for spring 2009. Isaac Mizrahi current economic situation, and Executive Vice President/COO; Debi Chirichella Sabino, Senior Vice President/CFO; Jill Bright, Executive Vice President/ lion. Lucky Brand Jeans sales will relaunch the fl agship Liz Lucky’s plan to add more fashion Human Resources. Periodicals postage paid at New York, NY, and at additional mailing offi ces. Canada Post Publications rose 21 percent to $110 million, Claiborne brand, John Bartlett denim and tops. On the partnered Mail Agreement No. 40644503. Canadian Goods and Services Tax Registration No. 886549096-RT0001. Canada Post: Kate Spade sales climbed 44 will do the same for Claiborne brands side, Black said, “I’m return undeliverable Canadian addresses to: P.O. Box 503, RPO West Beaver Cre, Rich-Hill, ON L4B 4R6 POSTMASTER: percent to $28 million. Helped men’s, and Villager will be dis- dying to see the Isaac Mizrahi SEND ADDRESS CHANGES TO WOMEN’S WEAR DAILY, P.O. Box 15008, North Hollywood, CA 91615–5008. FOR SUBSCRIPTIONS, ADDRESS CHANGES, ADJUSTMENTS, OR BACK ISSUE by the strength of the euro, continued and replaced by Dana line. In the meantime I have no INQUIRIES: Please write to WWD, P.O. Box 15008, North Hollywood, CA 91615-5008, call 800-289-0273, or visit Mexx revenues grew 20 percent Buchman, which Claiborne has expectations for the Liz brand.” www.subnow.com/wd. Please give both new and old addresses as printed on most recent label. First copy of new to $342 million, though McComb licensed exclusively to Kohl’s. But Brad Stephens, a retail subscription will be mailed within four weeks after receipt of order. Address all editorial, business, and production said, “Mexx is underperforming Claiborne also has signifi cant analyst for Morgan Keegan & correspondence to WOMEN’S WEAR DAILY, 750 Third Avenue, New York, NY 10017. For permissions and reprint requests, please call 212-630-4274 or fax requests to 212-630-4280. Visit us online at www.wwd.com. To subscribe to other the market overall” and “our ex- sourcing changes on the horizon, Co. Inc., said he was wary about Fairchild magazines on the World Wide Web, visit www.fairchildpub.com. Occasionally, we make our subscriber list ecution has been poor.” and McComb said an announce- the store rollout plan for Lucky, available to carefully screened companies that offer products and services that we believe would interest our readers. But this time around, the tale ment should be forthcoming in which entails 20 to 25 full-priced If you do not want to receive these offers and/or information, please advise us at P.O. Box 15008, North Hollywood, CA of two cities story included a twist, the next month. The vendor has stores and 15 to 20 outlets this 91615-5008 or call 800-289-0273. WOMEN’S WEAR DAILY IS NOT RESPONSIBLE FOR THE RETURN OR LOSS OF, as even the partnered brands already moved some of its sourc- year, after the brand’s stores OR FOR DAMAGE OR ANY OTHER INJURY TO, UNSOLICITED MANUSCRIPTS, UNSOLICITED ART WORK (INCLUDING, BUT NOT LIMITED TO, DRAWINGS, PHOTOGRAPHS, AND TRANSPARENCIES), OR ANY OTHER UNSOLICITED developed haves and have-nots. ing out of China into Vietnam, have experienced negative MATERIALS. THOSE SUBMITTING MANUSCRIPTS, PHOTOGRAPHS, ART WORK, OR OTHER MATERIALS FOR The company pointed to Kensie, Indonesia and Cambodia, and is comps. He was also concerned CONSIDERATION SHOULD NOT SEND ORIGINALS, UNLESS SPECIFICALLY REQUESTED TO DO SO BY WOMEN’S WEAR DKNY Jeans, Liz & Co. and Monet considering Jordan and Egypt. that the strategy for Kate Spade DAILY IN WRITING. MANUSCRIPTS, PHOTOGRAPHS, AND OTHER MATERIALS SUBMITTED MUST BE ACCOMPANIED BY as growth leaders, and the Liz “I have not been happy with of opening 12 outlets to six full- A SELF-ADDRESSED STAMPED ENVELOPE.

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