FASHION INDUSTRY NEWS – FRIDAY

Good morning designers!  The Friday edition of the StylePortfolios.com Daily Fix is up and ready for your reading pleasure.  What are you waiting for?  Get a coffee, sit-down and get your day started-off right with the The Daily Fix…

AMY ASTLEY IS LEAVING TEEN VOGUE AFTER 13 YEARS – NYMag
“Changes are afoot at Teen Vogue. After leading the publication since its inaugural issue 13 years ago, editor-in-chief Amy Astley is stepping down. She’s moving to fellow Condé Nast monthly Architectural Digest and replacing the current editor-in-chief, Margaret Russell.”

BURBERRY IS GOING ON A PRODUCT DIET – TheNewYorkTimes
“Despite a 10 percent drop in pretax profits (and a related fall in share price) at Burberry, it will continue with the grand experiment that was the promotion in 2013 of its designer, Christopher Bailey, to chief executive and chief creative officer — a move that made him the first designer at a publicly listed global luxury company to hold both posts.”

WITH NO BUYER, SPORTS AUTHORITY TO CLOSE ALL STORES – RetailingToday
“Going-out-of-business sales will start before Memorial Day at Sports Authority’s remaining 450 stores nationwide. The moves comes after the retailer, which filed for Chapter 11 bankruptcy protection in March, was unable to find a buyer.”

DOES GAP HAVE AN IDENTITY PROBLEM? WHY THE RETAILER’S SALES KEEP DROPPING – LosAngelesTime
“At the height of Gap’s popularity, the brand’s catchy commercials implored shoppers to “fall into the gap.” Now the clothing company can’t seem to pull itself out. Gap Inc., the San Francisco retailer that defined 1990s buttoned-down khaki culture, has suffered five straight quarters of falling sales at stores open at least a year. The Gap flagship brand has been battered even longer, its comparable sales dropping for the past nine quarters. Closing 175 of its namesake stores last year did not help its bottom line: Its fiscal 2015 profit was $920 million, a 27% decline from the previous year.”

KEATON ROW ADAPTS FASHION STYLING SERVICES TO FIT BUSY PROFESSIONALS’ LIVES – Forbes
“Keaton Row, the e-commerce company led by Harvard Business alum Cheryl Han , recently ramped up its styling services to create a more dynamic fit with the lifestyles of their busy clients. Investors are taking notice. Since launching in 2013, Keaton Row has raised over $11 million from investors, including Time Inc., Rho Ventures and Menlo Ventures.”