G-III Apparel Group picked up some extra momentum heading into the holiday season.Donna Karan’s corporate parent posted profit gains and boosted its outlook, leading investors to push the stock up 5 percent to $31.64 in premarket trading Tuesday.The company’s third-quarter net profits rose to $81.6 million, or $1.65 a diluted share, from $70.6 million, or $1.50, a year earlier. Adjusted earnings of $1.67 a share easily topped the $1.54 analysts projected.Sales for the three months ended Oct. 31 increased 16 percent to $1.02 billion from $883.5 million as the Donna Karan and DKNY businesses added sales of $88 million; the businesses were acquired just over a year ago.Donna Karan the designer is no longer attached with the brand, but stirred up some trouble for G-III in October in unscripted comments that wondered aloud if the women accusing Harvey Weinstein of sexual misconduct weren't "asking for it."Karan, who said she was speaking with incomplete information and on little sleep, apologized repeatedly, but that didn't stop some people from trying to spur on a boycott of the brand she founded.G-III, in its release on third-quarter results, did not address any commercial impact from Karan's comments, but focused on its broader business, which seems to be preforming well.The results surpassed the company’s internal plans and chairman and chief executive officer Morris Goldfarb said, “Our products are selling well as we head into the holiday season and we expect to close the year with improved results and sustained momentum.”Goldfarb said the company’s growth strategy works and that G-III owns known brands and controls distribution.In addition to Donna Karan, the company owns Vilebrequin, G. H. Bass, Andrew Marc, Marc New York, Eliza J and Jessica Howard. It also makes licensed goods under Calvin Klein, Tommy Hilfiger, Guess, Vince Camuto, Ivanka Trump and more.For the full year, the company still expects to post sales of $2.8 billion, but is now looking for earnings between $66 million and $71 million, above the $56 million to $60 million previously projected.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)