SMALL FALL AT WHITEHALL: Whitehall Jewellers said Wednesday that fourth-quarter income fell 4.8 percent to $15.1 million, or $1.05 a share, for the three months ended Jan. 31, beating Wall Street’s forecast of 92 cents. Last year, the...
SMALL FALL AT WHITEHALL: Whitehall Jewellers said Wednesday that fourth-quarter income fell 4.8 percent to $15.1 million, or $1.05 a share, for the three months ended Jan. 31, beating Wall Street’s forecast of 92 cents. Last year, the Chicago-based specialty jewelry retailer reported income of $15.8 million, or $1.07. Sales for the quarter declined 1.6 percent to $128.4 million from $130.5 million and fell 4 percent on a comparable-store basis. For the full year, income rose 4.4 percent to $10.5 million, or 70 cents, compared with 2001 income of $10.1 million, or 69 cents. Sales inched up 0.6 percent to $341 million over sales of $338.9 million, but slipped 1.9 percent on a comp basis. Whitehall said that, following an audit, it will restate earnings for the first three quarters of 2002, adding 2 cents a share to losses for the nine months, to correct the improper accounting of various vendor incentives, allowances and discounts that were initially recorded as reductions in the cost of goods sold, and should have been reflected in the weighted average cost of inventory. The company expects to file amended Forms 10-Q with the Securities and Exchange Commission to reflect the revisions, which will have no cash impact. Although the company did not detail financial guidance, it expects earnings to be lower in the first half of fiscal 2003, but said it is cautiously optimistic profitability should improve in the second half due to planned sales initiatives.
BON-TON GAIN: Bon-Ton Stores Inc. posted single-digit gains in both fourth-quarter and year-end results. For the three months ended Feb. 1, income was up 2.6 percent to $15.2 million, or $1 a diluted share, from $14.8 million, or 97 cents, in the year-ago quarter. Sales declined 1.7 percent to $241.3 million from $245.6 million. In the year, income rose 5.4 percent to $9.6 million, or 62 cents a diluted share, from $6.2 million, or 41 cents, last year. Sales fell by 1.2 percent to $713.2 million from $721.8 million. James Baireuther, vice chairman and chief administrative officer, said in a statement: "Although comparable-store sales declined slightly, we were able to control SG&A expenses, improve inventory turnover and offer our customers exceptional values."
WILSONS WITHERS: Working its way back from the closure of its travel businesses, Wilsons The Leather Experts Inc. withstood an 89.4 percent drop in income for the fourth quarter ended Feb. 1 to $2.4 million, or 12 cents a diluted share, from $22.7 million, or $1.26, a year ago. The drop included a $27.4 million aftertax charge in connection with the disposal of the firm’s discontinued travel subsidiaries. Sales fell by 7.6 percent to $303.1 million from $327.9 million. For the year, losses widened to a whopping $80.9 million, or $4.03 a share, from $17.5 million, or 99 cents, last year. Sales dropped 4.5 percent to $571.5 million from $598.3 million. Joel Waller, chairman and chief executive officer, said in a statement that, with the difficulties of 2002 now behind it, "our focus will be to strengthen our overall capital position, enhance the productivity of our existing store base and reduce our risk profile." The company is renegotiating its credit agreement with lenders and focusing on ratio tests in the existing one.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)