FASHION INDUSTRY NEWS – THURSDAY

Good morning designers!  The Thursday 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…

TIS THE SEASON FOR EXECUTIVE CHANGES – RetailingToday
“The same day that TJX announced the retirement of its CEO, Ascena Retail Group named a new executive to lead its recently acquired Ann Inc. division.Six weeks after Ascena Retail Group, parent company of Lane Bryant, Dressbarn and Maurices, closed on its acquisition of Ann Inc., the leading women’s apparel retailer made a key leadership change at its recent takeover target. Kay Krill, president and CEO of Ann Inc. for the past 10 years, will join the Ascena board and Gary Muto was elevated from his role as president to also serve as CEO. Muto will oversee all aspects of Ann Inc., including the banners of Ann Taylor, LOFT and Lou & Grey.”

AMERICAN APPAREL GETS QUICK OK FOR $90 MILLION IN FINANCING – BloombergBusiness
“On Tuesday, U.S. Bankruptcy Judge Brendan Shannon in Wilmington, Delaware, gave initial approval to the $90 million in financing, saying it wasn’t typical to move so quickly in a case like this. But, he said, his decision “clears the runway” for the company to start taking care of bills, including payroll. American Apparel employs about 8,500 people at its stores and factories, with about 7,000 workers in the U.S.”

ADIDAS BREAKS THE MOLD WITH 3D-PRINTED PERFORMANCE FOOTWEAR -Adidas
“adidas today unveiled the future of performance footwear with Futurecraft 3D, a unique 3D-printed running shoe midsole that can be tailored to the cushioning needs of an individual’s foot. The 3D concept is part of the ‘Futurecraft series,’ a forward-looking initiative that places open source collaboration and craftsmanship at the heart of design to drive innovation across all elements of production.”

REPORT: URBAN OUTFITTERS ASKED EMPLOYEES TO WORK FOR FREE – NYMag
“Urban Outfitters is riding a wave of good publicity after it announced that it will end the much-critiqued practice of on-call scheduling, at least for its New York–based workers (as reported by BuzzFeed News). But an internal email leaked to Gawker suggests that it’s a case of two steps forward, one step back for the company, labor-wise. The company asked for “weekend volunteers” to participate in a “team-building activity” that consists of packing and shipping orders at the retailer’s Pennsylvania fulfillment center. Or, as many might call it, unpaid work.”

NRF PUTS HOLIDAY GROWTH AT 3.7%– RetailingToday
“The 3.7% growth rate is a deceleration from a prior year increase of 4.1% but well above the 10 year average growth rate of 2.5%. Even so, the estimate could be viewed as conservative given improvements in the unemployment rate, now at 5.1% nationally, and the year over year decline in gasoline prices and the impact cheap gas has on the disposable incomes of many Americans.”