Robert Hanson has his work cut out for him at American Eagle Outfitters Inc., where he assumed the chief executive officer position on Jan. 30. The teen retailer’s growth trajectory has fizzled, higher raw materials and manufacturing costs have compressed margins and its aerie intimates concept is stalled.
Increased discounting during the holidays and higher merchandise costs crimped fourth-quarter earnings at the Pittsburgh-based company. For the three months ended Jan. 28, net income declined 41.1 percent to $51.3 million, or 26 cents a diluted share, from $87 million, or 44 cents a share, in the year-ago period. The results included store impairment charges of 7 cents a diluted share and executive transition costs of 2 cents stemming from the exit of former ceo James O’Donnell.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"