MILAN — Italian fashion group Aeffe SpA on Thursday said fourth-quarter profits fell 17.3 percent, but eased concerns its business would slow further by reporting a 10 percent rise in sales of the spring-summer collections.Aeffe, which operates the Alberta Ferretti, Moschino and Pollini brands and produces collections for Jean Paul Gaultier, said profits after financial items for the three months through Dec. 31 reached 762,000 euros, or $1.1 million, from 921,000 euros, or $1.3 million, a year ago.Sales in the quarter grew 8 percent to 59.2 million euros, or $85.7 million, thanks largely to gains in Europe and Russia and the performance of the Alberta Ferretti and Moschino brands. Revenues in the United States fell 14.8 percent to 6.9 million euros, or $10 million.Currency conversions were made at average exchange rates for the periods to which they refer.Despite the fourth-quarter slump, Aeffe's full-year profits climbed 62.2 percent to 12.9 million euros, or $17.7 million. Sales grew 10.2 percent to 293.2 million euros, or $401.9 million, in line with company forecasts. The figure excludes revenues from a stake in the Narciso Rodriguez brand, which Aeffe sold to Liz Claiborne Inc. in May.Earnings before interest, taxes and depreciation were up 19.8 percent to 44.5 million euros, or $60.9 million.Aeffe chairman Massimo Ferretti said he was "particularly satisfied" with the results, which met "all our objectives at the beginning of the year, despite the growing macroeconomic uncertainties."He added that 2008 had begun well following the performance of the spring-summer sales campaign and was "confident of achieving good revenue growth" and an improved profit margin come yearend.Aeffe's ability to weather a slowdown in consumer spending has put the company's stock under pressure since listing on the Milan Stock Exchange STAR segment for small companies in July.Aeffe shares closed up Thursday 4.8 percent to 1.93 euros, or $2.81, little more than half their price at its initial public offering.
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
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@virgilabloh revealed he's working with Australian stylist and
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"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
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“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)