Coel, Cruz, Federer, Lipa and Wintour Are Met Gala Chairs

British singer Dua Lipa attends Variety's 2022 Hitmakers Brunch at City Market Social House in Los Angeles, California, on December 3, 2022. (AFP) 
British singer Dua Lipa attends Variety's 2022 Hitmakers Brunch at City Market Social House in Los Angeles, California, on December 3, 2022. (AFP) 
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Coel, Cruz, Federer, Lipa and Wintour Are Met Gala Chairs

British singer Dua Lipa attends Variety's 2022 Hitmakers Brunch at City Market Social House in Los Angeles, California, on December 3, 2022. (AFP) 
British singer Dua Lipa attends Variety's 2022 Hitmakers Brunch at City Market Social House in Los Angeles, California, on December 3, 2022. (AFP) 

A starry group of celebs from film, TV, sports, music and fashion will be channeling the Lagerfeld Look at this year’s Met Gala on May 1. Michaela Coel, Penélope Cruz, Roger Federer, Dua Lipa and Anna Wintour are the evening’s co-chairs. 

Also announced Wednesday was the dress code: Perhaps not surprisingly, it is “In honor of Karl” – i.e. Lagerfeld, the German-born couturier who worked at Chanel, Fendi and Chloe and died in 2019 at age 85. 

The theme comes from the accompanying exhibit at the Met’s Costume Institute. “Karl Lagerfeld: A Line of Beauty” will gather some 150 of his creations to explore his “stylistic language.” Lagerfeld’s original sketches will also be on display. 

The Met Gala, which takes place the first Monday in May, is a huge money-maker for the Costume Institute at the Metropolitan Museum of Art, providing its main source of funding. It’s also one of the biggest nights in fashion and beyond. 

Presented in the museum’s Tisch Gallery, “Karl Lagerfeld: A Line of Beauty” will be on view from May 5 through July 16, 2023. 



H&M Abandons 2024 Earnings Margin Target, Q3 Profit Lags

People walk past a closed H&M clothing store in Omsk, Russia, March 3, 2022. REUTERS/Alexey Malgavko
People walk past a closed H&M clothing store in Omsk, Russia, March 3, 2022. REUTERS/Alexey Malgavko
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H&M Abandons 2024 Earnings Margin Target, Q3 Profit Lags

People walk past a closed H&M clothing store in Omsk, Russia, March 3, 2022. REUTERS/Alexey Malgavko
People walk past a closed H&M clothing store in Omsk, Russia, March 3, 2022. REUTERS/Alexey Malgavko

H&M, the world's second-largest listed fashion retailer, said on Thursday it no longer expected to reach its full-year earnings margin goal, while reporting a lower-than-expected operating profit for the June-August period.

H&M has struggled to boost its profitability amid high inflation and stiff competition from its bigger Spanish rival Zara, owned by Inditex, and the rapid growth of cut-price online fast-fashion retailer Shein.

"At present we estimate that this year's operating margin will be lower than 10%," Chief Executive Daniel Erver said in a statement.

The accumulated margin stood 7.4% for the first three quarters.

The full-year operating margins for 2022 and 2023 were 3.2% and 6.2% respectively, and H&M had cautioned in June that factors such as materials costs and foreign currency had made the 2024 target more difficult to reach.