American Eagle Outfitters Inc.’s stock rose more than 5 percent Wednesday after the teen apparel retailer said fourth-quarter profits rose 46.7 percent and that it was seeking a new chief executive officer. The company, which has been struggling to stand out on both the price and merchandise fronts in fierce competition with rivals Abercrombie & Fitch Co. and Aéropostale Inc., said ceo James O’Donnell would retire, a move welcomed by a number of analysts. Shares closed at $15.56, up 76 cents, or 5.1 percent.In other earnings news Wednesday, The Bon-Ton Stores Inc. exceeded analysts’ EPS consensus estimates by 11 cents, sending its stock up 10.5 percent, while Coldwater Creek Inc. fell short of estimates in results disclosed after the close of the market, sending shares down sharply in after-hours trading. The S&P Retail Index pulled ahead 0.7 percent to 510.30 while the major indices gave up ground. With crude oil prices continuing to move up, the Dow Jones Industrial Average fell less than 0.1 percent to 12,213.09 on the second anniversary of the index’s lowest point since April 1997. The market is currently 89.6 percent higher than the 6,440.08 intraday low hit on March 9, 2009.American Eagle recorded net income of $87 million, or 44 cents a diluted share, for the three months ended Jan. 29, 1 cent better than analysts expected. Year-ago net income was $59.3 million, or 29 cents. Excluding a year-ago loss from discontinued operations, income totaled $87 million versus $79.6 million a year earlier. Sales for the quarter fell 4.2 percent to $916.1 million from $955.8 million. Comparable-store sales declined 7 percent, as gross margin shrank to 39.4 percent of sales, compared with year-ago margin of 41 percent. O’Donnell, 70, will remain with the Pittsburgh-based company until a successor is appointed. A veteran of Gap Inc., he’s been with the retailer for 11 years as chief operating officer, co-ceo and for the past eight years as ceo.Snubbed by holiday shoppers, Coldwater Creek reported that its fourth-quarter loss grew to $37 million, or 40 cents a diluted share, 14 cents worse than analysts expected, from a loss of $9.7 million, or 11 cents. The Sandpoint, Idaho-based company said net sales sunk 20.8 percent to $252.1 million, from $318.4 million, in the year-ago period. Comps fell 20.5 percent while gross margin contracted to 24.1 percent of sales from year-ago margin of 28.4 percent.Reflecting on a number of changes in staffing and merchandising, chairman and ceo Dennis Pence said 2011 would be a “transitional year,” adding, “We believe that we are taking the right steps to reinvigorate our brand and enhance our merchandise appeal.”At Bon-Ton, based in York, Pa., net income rose 5.9 percent to $85 million, or $4.41 a diluted share, from $80.3 million, or $4.34, last year. Analysts polled by Yahoo Finance expected EPS of $4.30.Total revenues rose 0.7 percent to $1.03 billion from $1.02 billion, which included a 0.8 percent increase in sales to $1.01 billion from $1 billion last year and a 0.8 percent rise in comparable-store sales.The company reversed a loss in 2009 by posting year-end profits of $21.5 million, or $1.12 a diluted share, as revenues inched up 0.4 percent to $3.05 billion from $3.03 billion.Shares skyrocketed $1.62 to close at $17.04 Wednesday.
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
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
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.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)