Friday, March 30, 2007 TODAY'S TOP STORIES Tod's Net Leaps 23.8% in '06 Tod's SpA saw its 2006 net profits surge on lower costs and a more efficient production chain. Net profits for the year ended Dec. 31 rose 23.8 percent to 66.1 million euros, or $83.3 million. Aeffe Plans Initial Public Offering Aeffe, the Italian clothing manufacturer that controls the Alberta Ferretti, Moschino and Pollini businesses, said Thursday it is planning an initial public offering here.
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BEAUTY REPORT IsaDora Expands Into Minerals Walgreens has unearthed a new way to draw even more shoppers to its exclusive cosmetics brand IsaDora: mineral makeup.
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THE HBA REPORT
FINANCIAL Movado Net Grows, Sees Lower '08 EPS Watchmaker Movado Group Inc. said Thursday that earnings spiked in the fourth quarter but noted that it expects fiscal 2008 earnings per share to fall. Fate of Wage Hike Tied to War Bill Senate and House negotiators have begun the difficult task of reconciling two emergency war supplemental bills that would also raise the federal hourly minimum wage for the first time in 10 years to $7.25 from $5.15. Strong Sales Help IT Holding Cut Loss A onetime tax payment weighed on IT Holding's results last year, although the company narrowed its loss to 11.5 million euros, or $14.5 million, compared with a loss of 18.7 million euros, or $23.4 million, in 2005. Pucci Appoints Drouet New GM Emilio Pucci has a new general manager: Didier Drouet, who joins the LVMH Moet Hennessy Louis Vuitton-owned fashion house from the jewelry firm Poiray. TJX Reports on Identity Theft In the first detailed report of a major security breach, TJX Cos. said information from 45.7 million credit and debit cards had been stolen by computer hackers beginning in July 2005. Investor Group Acquires Advanstar Advanstar Holdings Corp., the holding company for Advanstar Communications Inc. and operator of MAGIC Marktetplace and WWDMAGIC, said on Thursday that it was acquired by an investor group led by Veronis Suhler Stevenson for $1.1 billion in cash. Jordan Expanding Effort To Fight Labor Abuses The Jordanian government, with some international help, plans to expand on its efforts to curb labor abuses at apparel factories in the country, according to Jordan's U.S. ambassador, Prince Zeid Ra'ad, and a joint Jordanian-U.S. report is set to be released today.
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RETAIL Another Opening Ceremony in L.A. Fashion-forward New York specialty boutique Opening Ceremony will launch its second location on Sunday here with a mission to educate the West Coast on New York style.
ACCESSORIES REPORT Dior Homme Plans Accessories Growth Fueled by a "fresh point of view," courtesy of designer Kris Van Assche, Dior Homme plans to continue its expansion drive by further developing categories such as footwear and leather goods and marching into new territories.
GENERAL
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