PERFUMANIA LOSS: Perfumania Holdings Inc. posted net losses of $2 million, or 65 cents a diluted share, during the second fiscal quarter ended Aug. 2, compared with a loss of $413,000, or 14 cents, in the same period last year, the firm reported in a Securities and Exchange Commission filing this week. The widened losses were due to operating costs associated with new store openings — the firm operated an average of 320 stores during the most recent quarter, compared with 274 stores in the year-ago period. Quarterly sales were down 15.4 percent to $62.1 million, from $73.4 million a year ago, on a $16.7 million drop in wholesale sales to affiliates to $4.7 million. Retail sales, however, which accounted for the bulk of total revenues, rose 5.5 percent to $57.4 million. The results do not include performance of fragrance producer and distributor Model Reorg Inc., which, as previously reported, finalized a merger with Perfumania Holdings (at the time called E Com Ventures Inc.) in mid-August. Perfumania Holdings expects to file pro forma financial data for the combined companies in late October.
STAYING THE COURSE: Procter & Gamble Co.’s race toward innovation will not slow, as the economy continues to sputter, the company’s vice chair and chief financial officer Clayt Daley told investors during a presentation at the Bank of America 38th Annual Investment Conference on Tuesday. “The most important thing we can do is continue to lead innovation…that’s the best defense we have,” he said, citing Clairol Perfect 10 as an example of new technology that warrants a premium price point. Daley said the company expects energy and commodity costs to increase about $3 billion in fiscal 2009. To cover those costs, he said P&G would need to increase pricing about 3 percent around the world. Acknowledging the recent slide of the price of oil, he said, “If oil prices stay in the low $90s [a barrel], as they are today, then there clearly will be some benefit to our cost outlook.” He noted that P&G’s cost projections were based on the price of oil ranging between $110 to $120 a barrel. Year-to-date, the cost per barrel is about $115, he added.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty