COMPANY HIGHLIGHTS
KATE - To Pre-Announce 1/29, Breaks 'Wall of Silence'
Takeaway: There's a first time for everything. KATE pre-announced that next Thursday it is going to pre-announce. As bizarre as this seems to be, the only negative is that it confirms a severe disconnect between this company's communication strategy vs. the fundamental strength in its business, and the upside to the long-term financial model. For the full link to our note from this morning, CLICK HERE.
RH - RH APPOINTS ALI ROWGHANI TO BOARD OF DIRECTORS
(http://ir.restorationhardware.com/phoenix.zhtml?c=79100&p=irol-newsArticle&ID=2009793)
Takeaway: RH needed one more independent Board member to be compliant with the listing requirements after Barry Sternlicht stepped down from the board mid-Summer. We don't know Rowghani personally but his resume speaks for itself. Sternlicht was invaluable in helping build out the blueprint for the Full Line Design Gallery. A framework that is still guiding the negotiations for new deals. We like that that Rowghani checks a box in two departments - finance and tech.
OTHER NEWS
AdiBok - ADIDAS GROUP TO SELL ROCKPORT TO A NEW ENTITY FORMED BY BERKSHIRE PARTNERS AND NEW BALANCE
(http://www.adidas-group.com/en/media/news-archive/press-releases/2015/adidas-group/)
TGT - Target launching its first plus-size clothing line in 7 years
HBC - Hudson's Bay Company Announces $100 Million Bought Deal Offering
(http://investor.hbc.com/releasedetail.cfm?ReleaseID=892575)
WMT - Wal-Mart Canada opening 11 supercenters in January
(http://www.chainstoreage.com/article/wal-mart-canada-opening-11-supercenters-january)
EBAY - Ebay Cutting 2,400 Jobs
(http://www.wwd.com/business-news/human-resources/ebay-cutting-2400-jobs-8130460?module=Retail-latest)
CACH - Caché Closer to a Ch. 11 Filing
