The Daily
Old Navy Sales Down
Meghan Hart
Old Navy sales are down 27% through March at stores being opened at least 1 year. Christine Chen analyst at Needham & Co told Reuters that the reason for the dramatic downturn in sales can be attributed to the fashion forward collection released by Old Navy this Spring. Chen states that:
“(The Old Navy customer) doesn’t want boring basics either, but when they try to become too fashion forward it doesn’t work. It doesn’t work at any of their (Gap Inc’s) chains.”
Todd Oldham’s collection for Old Navy is set to debut later this year and the silver lining at Old Navy is that margins are increasing. In addition, analysts are praising the fact that Old Navy has moved away from deep discounts and are losing customers that were trained to look for markdowns. While the pricepoints are still slated to be lower than the Gap stores, the company is holding the line when it comes to deeper discounts.
The Daily
Nicole Kidman Dropped from Chanel
Starting in 2009 Chanel No.5 fans will have to get used to seeing Amelie star Audrey Tautou as the face of the brand instead of actress Nicole Kidman. Kidman has been the face of the brand since 2004 taking part in various photoshoots and acting in a 3 minute...
May 8, 2008
Kanye West Does Ksubi for Pastelle
Kanye West's fashion label is off to a promising start with news that he will be teaming up with Australian fashion label Ksubi. West is just coming off a super successful album titled Graduation Day, is looking to branch off into fashion with his Pastelle fashion line...
May 7, 2008
Francisco Costa wins Spirit of Design Award
Calvin Klein womenswear designer Francisco Costa won the 2008 Spirit of Design Award at Philadelphia University's fashion show. Since arriving at the helm of Calvin Klein, Costa has taken home a variety of...
May 6, 2008
Rock & Republic Getting Sued by Victoria Beckham
The wires are abuzz this morning with news that the blissful marriage that was Victoria Beckham and Rock & Republic may be ending in a nasty divorce. The initial relationship was one of creative splendor, Beckham ...
May 5, 2008
Australia Fashion Week Deemed a Success by All Measures
Australia fashion week ended yesterday the same way it came in with much fanfare. Though not without it's share of incidents and controversies, the event proved that the talent in the south pacific can give their brethren around the world a run for their money.
May 2, 2008
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