Wall Street expected earnings per share of 22 cents on sales of $775.7 million.
“Our results for the fourth quarter and fiscal year were disappointing. However, we made progress during 2012 against our strategic initiatives,” said chief executive officer Thomas Johnson. “We added new talent to our team, injected more-relevant fashion into our assortments and developed our next-generation store model.”
The company, which posted an 8 percent decline in quarterly same-store sales, said it was pressured to slash prices during holiday to pique demand. This pushed quarterly gross margins down to 19.9 percent of sales from 24.3 percent a year earlier.
The teen retailer predicted a first-quarter loss in the range of 15 cents to 20 cents a diluted share, compared with year-ago earnings of 13 cents. Analysts expected a profit of 8 cents a share. The earnings cut assumes a double-digit same-store sales decline, the retailer said on its conference call to analysts and investors.
“We anticipate a challenging first quarter as a result of expected margin pressures from holiday carryover inventory and the impact of a weak macroeconomic environment,” Johnson said. “We will continue to plan our business conservatively and manage our cost structure carefully. While we face near-term challenges, we believe we have the right strategies and the right team in place to improve the trajectory of our business.”
With increased competition in the mall and an offering rooted in basics, and not fashion looks, Aéropostale said its fiscal 2012 net income took a hit, declining 49.8 percent to $34.9 million, or 43 cents a diluted share. Annual net sales remained steady, creeping up 1.9 percent to $2.39 billion.
@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)