Investors Push for Neiman Marcus Sale, Adidas Profits Plunge 93 Percent
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Neiman Marcus Investors Push for Company’s Sale (CNBC)
“An investor group that comprises investment firm Mudrick Capital Management and Daniel Loeb’s hedge fund Third Point plans to challenge a $600 million financing package that Neiman Marcus has lined up for its looming bankruptcy, and will push the U.S. department store operator to sell itself,” writes CNBC. “The debt-laden company’s sales all but evaporated after the coronavirus outbreak forced it to temporarily shut all 43 of its Neiman Marcus locations, roughly two dozen Last Call stores and its two Bergdorf Goodman stores in New York.”
Adidas Profits Plunge 93 Percent (Business of Fashion)
“Adidas reported a 93 percent plunge in first-quarter profit and sales off 19 percent, missing forecasts, and warned of a deeper hit to second-quarter revenue as lockdowns forced the German sportswear maker and other retailers to close stores,” reports Business of Fashion. “Adidas shares were down 1.2 percent in early trade and have fallen more than a third since the coronavirus pandemic started.”
Carine Roitfeld Partners With amFAR on Runway Show to Benefit Covid-19 Relief
Today, Carine Roitfeld announced Fashion Unites, a special CR Runway global event with amfAR to support Covid-19 relief. Hosted by Derek Blasberg, YouTube’s head of fashion and beauty, the global event will be
available to stream worldwide exclusively via YouTube on Friday, May 1 at 8:00 PM GMT /
1:00 PM (Los Angeles) / 4:00 PM (New York) / 9:00 PM (London) / 10:00 PM (Paris).
Created by Carine Roitfeld and directed by Fabien Constant, the 30-minute special will include appearances by Kim Kardashian West, Karlie Kloss, Ashley Graham, Hailey Bieber, Adriana Lima, Diane von Fürstenberg, Halima Aden, Virgil Abloh, Karolina Kurkova, Alexander Wang, Joan Smalls, Amber Valletta, Winnie Harlow, Irina Shayk, Karen Elson,
Jasmine Sanders, Alessandra Ambrosio, Heron Preston, Miss Fame, Shanina Shaik, Carolyn Murphy, and more. All models will wear creations pulled from their personal wardrobes and styled remotely by Roitfeld and her team.
“As we face times of great uncertainty, our support for one another is more important than ever,” said Roitfeld in a release. Embracing fashion as the creative expression through which to support the health and safety of our global communities, we hope this show can offer a small moment of hope, inspiration, and uplifting connection. A modest contribution as our world unites to collectively weather the storm of this pandemic together.”
Felicity Huffman’s Daughter Accepted to Prestigious University (Page Six)
“Felicity Huffman didn’t believe her oldest daughter had what it took to get into her first-choice college, so she tried to cheat on her behalf by paying $15,000 to have her SAT answers covertly corrected,” writes Page Six. “[However] A source told Page Six that Sophia, 19, retook her SAT — and that she’s been accepted to prestigious Carnegie Mellon University in Pittsburgh. On Sunday, the young actress posted the school’s logo and two smiley heart emojis to Instagram Stories. She also added ‘CMU Drama ’24’ to her bio.”