2

WOMEN'S WEAR DAILY, TUESDAY, MAY 29, 1973

## Correction

Russ Togs has not yet reported on its first quarter ending May 4. First quarter results in these columns (WWD, page 10, May 25) showing profits of $29,700,000 and sales of $1,800,000, or 43 cents a share, were for the first quarter last year.

## Women's Wear Daily
DIRECT
DIAL
NUMBERS

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Circulation Department 741-4033

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The Area Code for all the above numbers is 212.

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## Genesco's new route: improved profitability

NASHVILLE (FNS) — The "changing direction" of Genesco is toward improved profitability, increased sales on lower inventories and reduced expenses, Franklin M. Jarman, chairman and chief executive officer, said in a relaxed and pleasant telephone interview from his office here.

Jarman was queried on "changing directions" when the use of this term appeared in a confidential, internal memorandum (May 25, page 12) which was distributed recently to Genesco executives.

"We've been behind in our quarterly earnings for four or five quarters, but in the third quarter just ended (April 30), our before-tax profits, our dollar profits (after special items) were ahead of a year ago...

"Our expenses for the 12-month period just ended were lower than last year and our sales are up. Our inventories are down, and, in fact, in two of our companies, Kress & Roos/Atkins, we've got inventories 25 percent lower than last year. For the 12-month period just ended, Kress was only behind, 1 percent in sales with 25 percent lower inventories.

"We're reducing our inventories and increasing our sales, and the only way that can be done is with skillful merchandising," he said.

Asked about "internal differences of opinion," also cited in the memo, Jarman replied:

"Since this was a private executive memorandum, it would be inappropriate for me to comment on that publicly, particularly since it advised the press should not be used as a forum for internal differences of opinion."

These private memos are copyrighted, Jarman further pointed out, "to prevent them from being used in an unauthorized way."

Jarman also declined comment on reports that Ira Naimark, vice-president and general merchandise manager of B. Altman & Co., was a candidate for the Bonwit Teller presidency. He noted he was not going to comment on any reported candidates for that job.

## Borden completes Colman acquisition

COLUMBUS, Ohio — Borden, Inc., has completed its acquisition of Alex Colman Inc., a wom-

en's sportswear and dress manufacturer based in Los Angeles. Borden will exchange 0.5687 share of its common stock for each share of Alex Colman's American capital stock outstanding. The company said it expects to issue about 616,000 shares in the transaction.

## TODAY'S NEWS

<table><tr><td>Arts & Pleasures</td><td>32</td></tr><tr><td>Best Sellers RTW</td><td>23</td></tr><tr><td>Buyers' Arrivals</td><td>10</td></tr><tr><td>Executive Changes</td><td>10</td></tr><tr><td>Eye, Eye View</td><td>14,16</td></tr><tr><td>The Fabrics</td><td>39</td></tr><tr><td>Fairchild News Offices</td><td>20</td></tr><tr><td>Fashion RTW</td><td>40</td></tr><tr><td>Features</td><td>4,5</td></tr><tr><td>Financial</td><td>18</td></tr><tr><td>The New Technology</td><td>115</td></tr><tr><td>Theaters</td><td>34</td></tr></table>

### LIFE STYLES

It was Henry Kissinger's 50th birthday party — and “a bit of a drag” to one guest, starlet Joanna Cameron who came with David Rockefeller. It was a house party, everyone was over 40.” Like Nelson Rockefeller, who joked “I told Henry I'd support him for president,” . . . or Walter Cronkite, who guessed Henry's favorite present was the fact “They gave him a pardon,” . . . or Barbara Wallers, who toasted the birthday boy. “Henry has friends and he has women. We know we're friends, which outlasts other relationships.” (4-5)

"I don't put my money into the stock market, I buy gold shares in So. Africa," Kathy Keeton confides. At $100,000, she's the highest paid woman space pleaser in advertising, her company's housekeeper. "I'm wealthy, but don't have to spend any money, I live with Bob Guclone," the magazine's editor & publisher, she reveals. In Sept., they're adding "Viva," a sex mag for women, but there won't be any male nudes because "Women are more turned on by female nudes." (16)

Where are the people with money, and those who advise people with money, investing their funds today? "The action money has moved into commodities," says Leonard Merkowitz of Shearson, Hammill, but he's sure "The bubble will burst, it always does." Pierre Rinfrenut, a mutual fund 100% in cash, investment banker Dale Coenen says "The price is right" now for stocks. Goldman Sachs' Gus Levy brushes off bonds, "Just not my style." And if paintings are your bag, Imre J. Rosenthal advises: "Stick to the blue chips. French Impressionists, they won't go out of style." (18)

"When you become a hero, you become spoiled as a writer. That's what happened to Yevtushenko," — and Heinrich Boll's greatest fear is that his increasing fame will go to his head, the Nobel Prize winner admits. He discusses his newest novel "Group Portrait With Lady" which uses a technic he won't apply in any future writings. An expert on Nazi Germany, he admits: "I could never bring myself to make fun of Germans. Americans don't realize how unpopular the war was to the average German." (32)

### GENERAL

He called himself "the best little ticket-splitter you ever saw," and Fred Lazarus, Jr., was a friend of many presidents, and had sufficient clout with FDR to have the date of Thanksgiving Day changed. He was an astute retailer who was not convinced the customer was "always right" and didn't hesitate to cancel the charge account of a chronic returner of goods. He also believed in practical research, and once "bugged" corset fitting-rooms to gain insight into customer preferences. Mr. Fred died Sunday night at 88. Private funeral services will be held today. (1, 43)

Action in the presidential suits, as — Morton S. Fisher resign, as prez of Town & Country dept. stores (6) George W. Schmidt quits as prez-chief exec of Duplan Corp., following "sharp differences" with the exec board (39) Other comings & goings (pp. 10, 28, 37, 38, 39, 41)

<table><tr><td>The Furs</td><td>41</td></tr><tr><td>The New York Times</td><td>38</td></tr><tr><td>Imprints</td><td>38</td></tr><tr><td>The Infants' Children</td><td>36-37</td></tr><tr><td>Obituaries</td><td>1,12, 18,39,43</td></tr><tr><td>RAM Reports</td><td>40</td></tr><tr><td>Retail Briefs</td><td>40</td></tr><tr><td>The Sportsweek</td><td>39</td></tr><tr><td>The Street</td><td>18</td></tr><tr><td>The New Technology</td><td>115</td></tr><tr><td>Theaters</td><td>34</td></tr></table>

SA agrees any organized consumer boycott of fail apparel is unlikely though there may be some individual balking at price tags. Nancy Greer's Sidney Lipman puts it this way: "If a man wants to stay in business, he'll hold prices down. The most they could rise is $10 at retail. We haven't raised ours." Braetan's coat prices are up $3-4 an item "But we've given better quality, and we still have $42 coats, only this year 3 instead of 8 of them." (1, 42)

There is some genuine retail concern over possible consumer price resistance. "We've noticed a slowing down, particularly in men's wear," notes Saks' Norman Wechsler, observing New York City's sensitivity to the stock market. But he's planning for a 5% fall increase. Many, like May Co's Denny Arvanites, think fall's "wearable, believable" looks will counteract any hesitation over prices. (1, 42)

Larger extraordinary losses blared for Arien Realty's 815 drop in final '72 net to $2,064,000 on 1.5% higher revenues. (6) European higher discount Carrefour's will be the major tenant in Arien Realty's first European shopping center, outside Paris. (20)

DuPont is experimenting on a 20-dener spanner filament which is not a problem. "It's predicting big things for spandex-blended fabrics (up to 20% Lycra), as shoppers show a preference for "comfortable clothes." (28)

How to escape the 9-40-tycoon? Flextime Corp. is marketing an unconventional time-clock, proved to cut absenteeism and up productivity. It expects retalling of special interest. (35)

### ONE WORLD

French rtw producer Georges Rech, who ordered 100,000 yds. of Chinese silk at $2 a yd. at the Canton Fair, was amazed at the color scope (from muted pastels to deep browns) as well as the patterned & brushed silks unlike anything seen in the West. But this time he stuck to plain silks, due in his spring '74 line. (40)

Want to know what precision military maneuvers in retail terms are all about? Do as Sam Feinberg did, and spend 3 days traveling in the U.S. with 10 owners of Japanese popular-price retail chains, several of whom are close to signing joint-venture deals with American suppliers. (22)

A Canadian boutique owner's claim it was cancelling a big order with U.S. sportswear firm because of govt. requests that boutique operators restrict imports to 5% of stock, was just an alibi, according to a govt. official who notes a thriving two-way clothing trade between the two countries. (39)

The U.S. MTA makes a pitch for a better deal on imports, warning their European rtw counterparts meeting in Berlin that "The U.S. can no longer afford to absorb the excess world output of apparel, others must be ready to take on part." (30)

London designer Tha Porter Associates "I love dressing Marjietta Tree and Evangeline Bruce," — but she views her American tie-up with Eric & Alex as "an interesting challenge, it's exciting to do clothes that are less expensive," which in this case means $80-$120 at retail. (14)

HAPPY BIRTHDAY,

NEW YORK — "Our gift for Henry," said Roz Russell as she arrived at New York's Colony Club, "is a copy of 'The Uncrowned King' with the inscription, 'To King Henry — from his loyal and loving subjects.'"

About 70 of Henry Kissinger's loyal subjects showed up Saturday evening to toast King Henry at a black-tie, 50th-birthday party given by old Harvard crony Guido Goldman. Noticeably missing were many not-so-loving administration types, but a bevy of political, journalistic and show biz superstars more than made up for it.

Among the first to appear were Happy and Nelson Rockefeller, who ducked in through a side entrance with Kissinger's parents. Following shortly was King Henry, himself, with favorite lady Nancy McGinnis. Kissinger seemed relaxed and almost ready to talk to the press until one cub reporter yelled out "Watergate." Kissinger's expression soured as he hurriedly whisked Ms. McGinnis into the club.

Following close behind were The Washington Post's Katharine Graham with Clayton Fritchey, Jacob Javits with Marion in a decorlete Jean Muir dress, and Kissinger protege Winston Lord with his wife, Bette, decked out in an elaborate Chinese gown.

The Lords' gift for Henry was a translation from "Romance of the Three Kingdoms" — a famous Chinese novel all about foreign policy advisors, naturally. Mike and Lorraine Wallace brought a 1923 gold coin commemorating the Monroe Doctrine, while David Frost — who made a point of telling everyone he'd "just popped in from England" — refused to tell his gift ("I think Henry should know first").

Watching Frost and date Joanna Cameron pose willingly, lovingly and long for photographers, one bystander quipped, "You'd think it was their birthday party." Flashbulbs really popped, however, when Bob Evans pulled up with blonde beauty Marie Sophie Pierson, who had

—Dome just for the party.
Inside, the group had CULTURE on smoked salmon, fillet mignon and sherbet. Kissinger's dinner was interrupted by a phone call from Danny Kaye. "Where the hell are you?" asked Henry. "I'm on my way returns from Iceland. Like Kaye, Gen. Alexander Haig, Frank Si-natra, Anne and Kirk Douglas and the Art Buchwalds were invited to the party but unable to attend."

After the coffee-flavored birthday cake was served, the speeches and toasts began. Nelson Rockefeller toasted Kissinger: "There's always been the question of whether history makes the man or the man makes history. Henry has settled that question — the man has made history."

Lord likened working for Kissinger to childbirth: "It's uncomfortable, painful, sometimes bloody, but it always reflects you're being stretched." After more praise from Ambassador Peter Peterson, Gold-man and Javits, Kissinger drew laughs when he rose to say, "The warmth of my friends' speeches tonight reminds me of the warmth and closeness of the White House staff."

Barbara Walters was then called upon to represent the female viewpoint. "I hadn't planned to speak but Gloria Steinem and Barbara Howar couldn't be here tonight." She praised Kissinger for "having made careers for the countless women who have sat next to him at dinner," adding he "had that capacity to make us all feel special and feminine, no matter what age."

She added hastily, "Of course, that was before people knew about Nancy. Henry has friends and he has women. We know we're friends, which is lovely and outlasts other relationships."

Upon leaving, everyone pronounced the party "friendly and warm," except Joanna Cameron who called it "a bit of a crag — almost everyone was over 40." Asked what Henry's best present was, Walter Cronkite laughingly told WWD, "They gave him a pardon."

Rockefeller joked: "I told Henry I'd support him for president."

Crushed by Secret Service, King Henry and Nancy were two of the last to leave. "It was a wonderful party," Kissinger said, adding he had no words of wisdom upon turning 50.

As Kissinger's limo pulled away, photographers jumped into taxis and followed in hot pursuit to Ms. McGinnis' East 68 Street apartment.

Kissinger and Ms. McGinnis beat the troops inside but everyone camped out, expecting a long wait.

"He's never stayed more than 20 minutes," said the doorman. And sure enough, 20 minutes later Kissinger emerged, a small portfolio in hand.

When he saw the press, he laughed. "Glad I didn't stay longer," he said before dashing into his limo and screeching away.

—NANCY COLLINS

Barbara Walters

Kitty Carlisle Hart

Bob Evans and Marie Sophie Pierson

Lorraine and Mike Wallace

Bette Lord

Jacob and Marion Javits

Paul Lepercq and friend

Max and Marian Ascoli