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.
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)
Discovery is collaborating with British pop artist @philipcolbert on a new line of clothing and accessories called Discovery Shark. The collection, which will launch next summer for Shark Week’s 30th anniversary, features a whimsical line of women’s and men’s bomber jackets, sweatshirts, bags and more. #wwdfashion
“I’m always a big champion of a female rapper, and I’m glad to see a new voice that feels unique and authentic that’s coming up, and I think we’re going to see more great things from her,” said @itsjeremyscott about @iamcardib, who performed at @moschino’s Art Basel Miami Beach party last night. #wwdeye (📷: @lexieblacklock)
@janellemonae’s “What’s Your Frequency?” room in @refinery29's #29Rooms made its debut this week at the opening of the Los Angeles art exhibit. “It’s about the ongoing conversation around mass surveillance, the weaponization of technology and cultural uniformity. My space was created so that we can come together and talk about the complexities of our humanity,” said Monáe. #wwdeye (📷: @bucknerphoto)
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)