Frederick’s of Hollywood Group Inc. ended its fiscal year in the red, but chairman and chief executive officer Thomas Lynch said better comparable-store sales in August and September showed the company was on the right track.
Fourth-quarter losses attributable to the company narrowed to $7.2 million, or 19 cents a share, from $12.5 million, or 35 cents, a year earlier. Sales for the three months ended July 30 fell 11.3 percent to $25.8 million from $29.1 million as comps fell 13.6 percent.
For the full year, losses narrowed to $12.1 million, or 31 cents a share, from $21.6 million, or 74 cents, the prior year. Sales for the 12 months dropped 10.6 percent to $119.6 million from $133.9 million, with an 11.9 percent comp decrease.
But Frederick’s, which has 123 stores as well as catalogue and online businesses, is focusing on the future.
“This is the beginning of a new era for Frederick’s of Hollywood, and the most noticeable change is the fashionable line of new products that were introduced in our stores and through our direct channel starting in late July,” Lynch said.
The company is also looking at new marketing initiatives to create customer demand, a revamp of its Web site and licensing arrangements at home and abroad. And industry veteran Don Jones was recently brought on board as president and chief operating officer.
In August, Frederick’s comparable-store sales inched up 0.2 percent, while September comps increased 8.7 percent.
“These preliminary results give us confidence that the impact of our initiatives will continue to enhance our business and contribute positively to our financial results in fiscal 2012 and beyond,” Lynch said.
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion