America's retailers have precious little to cheer about these days. Many of the best-known U.S. department-store chains are up for sale. Garment sales have been stagnant, and profits are squeezed. But then there is Donna Karan, a women's-clothing designer whose creations send department-store executives into fits of giddy optimism. The Queen of Seventh Avenue, as the fashion press calls her, Karan is chief executive officer and head designer of a five-year- old company that expects to rake in $115 million in revenues this year. Her sportswear line arrived in stores eight months ago in one of the most successful launches in...
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