Apparel maker G-III Apparel Group Ltd. reported on Monday that fourth-quarter earnings more than doubled, boosted by sales in outerwear and dresses. For the three months ended Jan. 31, earnings reached $1.1 million, or 6 cents a diluted share, from $518,000, or 3 cents, in the same year-ago period. Results included charges related to the termination of the Sean John junior sportswear license and financing related to purchasing commitments by one of the company's vendors, as well as a onetime gain in conjunction with the closing of its Indonesian production facility. Sales grew 30.2 percent to $128.7 million from $98.8 million.For the full-year period, earnings jumped 32.6 percent to $17.5 million, or $1.05 a diluted share, from $13.2 million, or 94 cents, in the year-ago period. Sales increased 21.5 percent to $518.9 million from $427 million."Our acquisition last month of Andrew Marc provides us with a sought-after luxury brand, an expanded midtier presence through the Levi's and Dockers licenses and opportunities for incremental leverage and economies of scale," said Morris Goldfarb, chairman and chief executive officer, who also noted the firm had good momentum in its outerwear fashion brands and its dress businesses. Goldfarb added the company is continuing its transformation into a business that can "ultimately be profitable all year round."The company said the first quarter typically results in seasonal losses, and this year it will be further affected by the acquisition of Andrew Marc. Management expects a loss of 47 cents to 51 cents a diluted share in the first quarter. The company said it expects the Andrew Marc acquisition will be accretive for the full fiscal year ending Jan. 31, 2009.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim