MILAN — Italian fashion group Aeffe SpA on Thursday reported a 2 percent gain in first-half revenues and earnings, and confirmed growth in full-year sales and profits.
The company, which operates the Alberta Ferretti, Moschino and Pollini brands and produces collections for Jean Paul Gaultier, posted net profits of 6 million euros, or $9.2 million at average exchange.
Total revenues for the first six months of the year reached 147 million euros, or $225 million, which gained 5.9 percent at constant exchange, excluding the effects of the sale of a stake in the Narciso Rodriguez brand to Liz Claiborne Inc. in May 2007.
Earnings before interest, taxes, depreciation and amortization fell 8.7 percent to 20.9 million euros, or $32 million — although net of unspecified nonrecurring items, these remained flat.
“Based on these results and on the current orders backlog for the fall-winter 2008, I can confirm that 2008 will show a growth in sales and profits,” Aeffe executive chairman Massimo Ferretti said.
Alberta Ferretti, Moschino and Pollini each reported revenue gains of between 4 and 5 percent, together accounting for nearly 90 percent of group turnover in the period.
Sales at Jean Paul Gaultier and other brands fared less well, slipping 11.5 percent and 14 percent, respectively. Geographically speaking, revenues gained the most in Russia, up more than a fifth to 13.6 million euros, or $21 million, while Italy — Aeffe’s biggest market — reported a 4 percent increase to 57.2 million euros, or $87.5 million. Sales were flat in the rest of Europe and decreased 21.2 percent in the U.S. and 10.9 percent in Japan.
“We are particularly satisfied with our core brands’ performance, especially [the] Moschino and Alberta Ferretti brands, and with the growth in the emerging countries,” Ferretti said.
Aeffe stock, which has been under pressure since listing on the Milan Stock Exchange STAR segment for small companies in July last year, closed down 1.9 percent Thursday to 1.42 euros, or $2.21 at current exchange.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)