Amazon continues to successfully court online shoppers and grow its sales, but still has to figure out how to bolster its bottom line.The company said its first-quarter net income increased to $108 million, or 23 cents per diluted share, up from $82 million, or 18 cents, a year earlier. Sales for the quarter ended March 31 climbed 23 percent to $19.74 billion, up from $16.07 billion. Sales came in slightly ahead of the $19.4 billion analysts projected and the company’s stock inched up 10 cents to $337.25 in after-hours trading.RELATED CONTENT: WWD Earnings Tracker >>Observers have long wondered when the company will turn its focus to the bottom line, but Amazon has been steadfast in its push for market share.“We remain headstrong focused on driving a better customer experience through price, selection and convenience,” said Thomas Szkutak, Amazon chief financial officer, on a conference call with analysts. “We believe putting customers first is the only reliable way to create lasting value for shareholders.” For the second quarter, Amazon expects net sales to reach between $18.1 billion and $19.8 billion, for growth of 15 percent to 26 percent.
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