Fashion News

Fashion News Alert: Lady Gaga’s New Gig, Guess’ Financial Woes Continue, and Saks to Start Black Friday Early

Fall 2013 V magazine cover image courtesy of tomandlorenzo.com
Fall 2013 V magazine cover image courtesy of tomandlorenzo.com

Lady Gaga has a new job. For the January 2016 issue, Gaga will be a guest editor at V magazine.

Lady Gaga has been on the cover of V magazine four times, and V magazine’s Editor-in-chief Stephan Gan has discussed Gaga coming on board as an editor for years. In addition to editorial duties, Gaga will also appear on the January cover of V magazine.

“I feel like we all share an appetite for living a life of passion and creativity. It’s like we all found our immortality through art and fashion. These are people who have kept me and protected me over the years, because they’ve wanted me to survive. That’s part of the message of this issue: we have to carry each other through the decades and take care of one another and honor each other’s work. I am saying thank you to all these people for everything they’ve given to me. I want to make sure the world knows who they are—it’s a guard of people—I call them my Fashion Guard!,” detailed Lady Gaga in a fashionweekdaily.com article as she revealed that some of her close fashion friends will support her in her new endeavor.

Image courtesy of nytimes.com
Image courtesy of nytimes.com

Black Friday Early

Saks Fifth Avenue gets a jump on other high-end retailers by starting their Black Friday holiday sales on Wednesday. Saks Fifth Avenue will be closed on Thanksgiving.

“We thought it would be nice for customers to be able to come on Wednesday and get the great Black Friday offerings without having to go through the more crowded atmosphere on Friday,” Hudson Bay Co’s Chief Executive Jerry Storch told Reuters. Saks Fifth Avenue is owned by the Canadian-based Hudson Bay Co.

Other major US retailers have adjusted their Black Friday policy in lieu of cautious US consumers. Amazon.com has been offering a preview of its Black Friday deals through most of November, while the majority of Wal-Mart’s Black Friday deals will be available on walmart.com after midnight on Thursday.

While back-to-school sales were lower in August and September for most major retailers, retailers are hoping pre-Black Friday deals will lure consumers to stores early.

Image courtesy of bestcelebritystyle.com
Image courtesy of bestcelebritystyle.com

The economic guess is still on for Guess

Though third quarter reports confirm that Guess’ retail sales exceeded expectation, the company’s financial woes are far from over.

According to fashionmag.com, net earnings for the quarter decreased 40.1% to $12.4 million from $20.8 million in Q3 2015, total net revenue decreased 11.7% to $521 million from $589.8 million, and earnings per share decreased 38%, which includes the negative impact of currency of 55%.

Revenues decreased sharply in US dollars and only slightly in constant currency. US revenues decreased 7% in US dollars, Europe revenues decreased 15%, Asia revenues dropped 17% and Americas wholesale declined 12%.

—William S. Gooch

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