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.
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