And shares of Michael Kors Holding Ltd. gained 11 percent to $63.24, having peaked at $64.80 earlier — a new high for the company, which went public in December 2011 at $25 a share. Kors’ net profits shot up to $130 million, or 64 cents a diluted share, for its fiscal third quarter ended Dec. 29. That marked a four-fold increase over a year earlier.
Other fashion companies making headlines also took big steps forward in the market.
And retailer New York & Company Inc. tweaked its fourth-quarter guidance, noting that its operating income would rise a range of $9 million to $10 million, or $5 million to $6 million on an adjusted basis. Previously, the company projected unadjusted operating income of $2 million to $6 million. Shares of the 519-door chain jumped 9.8 percent to $4.39.
“Our preliminary fourth quarter results point to a solid quarter for our Company driven by a positive response to our holiday assortments and marketing strategies,” said Gregory Scott, chief executive officer. The four companies all stood out in an otherwise sedate market.
In early afternoon trading, the S&P 500 Retailing Industry Group was up 0.2 percent, or 1.65 points, to 702.09 and the Dow Jones Industrial Average was trading slightly above 14,000, having risen 48.35 points.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)