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Fashion Inc.

by Sara Clemence
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Morning Hemlines: Steve & Barry's, Limited, Barneys, Marc Jacobs, Hicks, Pilati

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Nov 24 2008 10:19am EDT

Morning Hemlines: Mervyn's, Fred Leighton, Imitation of Christ, Holidays, Luxury Ads, Vintage

Cerberus Capital Management and the other private equity investors in department store chain Mervyn's made $250 million off the deal--even though the company is shutting down, and 18,000 workers being laid off. (WSJ)

Analysts foresee a grim holiday season for retailers. (NY Post)

Fashion firms are cutting costs, like we said months ago. (WWD)

Fred Leighton creditor Merrill Lynch Mortgage Capital says the jeweler could run out of money by the end of the year and wants owner Ralph Esmerian out. (WWD)

Imitation of Christ is folding. (Racked)

New York's vintage and thrift stores are seeing a surge in business. (NY Daily News)

British retailers are stepping up the markdowns. (FT)

Luxury brands, including Graff Diamonds, are cutting back on ad spending. (NY Times)

-Sara Clemence

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