Buoyed by strong international sales, Harry Winston Diamond Corp. more than doubled its second-quarter profits Tuesday and solidly beat analysts’ estimates. The Toronto-based retailer and supplier of diamonds reported a 149 percent leap in profits, posting net earnings of $49.9 million, or 81 cents a diluted share, for the quarter ended July 31, versus net income of $20.1 million, or 33 cents a diluted share, for the year-ago period. Analysts anticipated 43 cents a share. Sales grew 7.4 percent to $186.1 million from $173.3 million last year with retail sales up 18.9 percent to $81.1 million. The company’s cost of sales was $73.5 million for a gross margin of 60.5 percent, compared with $81.8 million, and a gross margin of 52.8 percent, for the comparable quarter in 2007. The firm said retail sales in luxury jewelry were “robust,” and, with a global footprint, are “well positioned to withstand regional economic disruptions” in the U.S. and Japan. Harry Winston said the sales performance in the first half has left it positioned to achieve its annual sales growth objective in excess of 15 percent. “Our businesses in Asia, Europe and the Middle East have been sufficient to offset the general market softness in the U.S. and Japan,” said president Thomas O’Neill. “This contributed to our strong retail finish for the second quarter. Together with solid results from the first quarter, the first half of the year has put us on firm footing into the second half of the year.” For the first half, profit ballooned 205.4 percent to $71.2 million, or $1.17 per share, compared with $23.3 million, or 39 cents a diluted share. Revenue was up 8.8 percent to $342.2 million, from $314.6 million.
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)
“On a personal level, it’s my vision to create a really different idea with their look to be at the epitome of women’s fashion in South Korea – to create a new milestone,” said stylist @chochowon on dressing K-pop’s most fashionable girl group, @blackpinkofficial. WWD’s @mistywhitesidell sat down with Won ahead of the group’s new album release, “Square Up,” which is out today. Read the full interview on WWD.com. #wwdfashion #blackpink_squareup #blackpink
For @ralphlauren, 2018 is a reason to celebrate: It marks the brand’s 50th year in business. Last year’s chauffeured show in Bedford, NY featuring his vintage car collection may have seemed like the big celebration to show-goers, but they were wrong. The official celebration will be held on September 7 during #NYFW. Get all the details on WWD.com. #wwdfashion (📷: @giovanni_giannoni_photo)