Tiffany’s Sad Christmas
Tiffany & Co. expects that its holiday sales will miss the mark this season. Tiffany CEO Mike Kowalski admitted to “recent sales weaknesses in Europe and in Eastern parts of the US,” as a debt crisis overseas roils markets and a budget standoff in Washington threatens the economy. This came as a shock to investors, who believed that profits would be up this year. While Tiffany said demand in the US and Europe was strong this fall, “We are certainly not implying that Tiffany will be insulated from the economic challenges,” spokesman Mark Aaron said.
Sales rose by double-digit percentages in all regions worldwide, although gross margins narrowed slightly. That’s because demand from less-wealthy “aspirational” shoppers, who buy higher-margin trinkets, is on the wane. Nevertheless, the retailer said it expects fourth-quarter earnings of just $1.48 to $1.58 a share — well short of the $1.63 projected by analysts. Executives gave no specific reason for the lackluster forecast.
Dior’s Big Monday
Monday proved to be a big day for Christian Dior: it marked the calendar as Dior’s first pop-up shop and artist collaboration. The pop-up shop, located in Miami, s an explosion of fluorescent color and visual stimuli, a meld of Plexiglas and endless video screens. Mannequins sport black wigs dip-dyed in party pinks and purples. There’s a nail salon in the back with free afternoon manicures replete with Louis XVI chairs covered in the splashy camouflage pattern Reyle created for the line. Even the food truck outside, which will serve French pastries and coffee from 11 a.m. to 1 p.m. every day during the store’s two-week run, comes covered in those punchy camo motifs.
Having an AbFab Christmas
Jennifer Saunders and Emma Bunton of the Spice Girls gave New York an “absolutely fabulous” Christmas show last night. The duo were part of the entertainment of Stella McCartney’s annual Christmas lights party last night.
Saunders, who will be starring in three new episodes of “Absolutely Fabulous” next month, regaled the crowd with her musings on PR and fashion. She finished off by singing “Oh Holy Night,” with help from Sir Paul McCartney. “Jennifer’s a very talented and iconic woman – and the show has made its way into British history,” said Stella McCartney. “And it’s just bloody funny.”
– Taneisha Jordan
Source: NY Post; WWD
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Tags: AbFab, Absolutely Fabulous, Christian Dior, Emma Bunton, Fashion Headlines, Jennifer Saunders, Mark Aaron, Mike Kowalski, pop up shop, Stella McCartney, Stella McCartneyâ€™s annual Christmas lights, Tiffany & Co.