In Brief: European Textile orders Up… chico’s EPS Decline… Filas Tapes Executive
New orders for textiles and textile products increased 8.7 percent in the 13 euro-area nations and 6.3 percent in the 27 member countries of the European Union in March from the previous year, Eurostat reported.
EUROPEAN TEXTILE ORDERS UP: New orders for textiles and textile products increased 8.7 percent in the 13 euro-area nations and 6.3 percent in the 27 member countries of the European Union in March from the previous year, Eurostat reported. This represents a sharp increase from small gains or losses in the previous four months. Compared with the same month last year, new orders in March for manufacturing of textiles and textile products increased by 13.6 percent in the 13 euro-area countries and 11.8 percent in the 27 members of the EU, according to the report by the European Commission's statistical agency. EU nations with the highest increases in overall manufacturing from new orders in March were Poland, up 9.1 percent; Spain and Portugal, up 5.1 percent each, and Italy, up 4.7 percent.
CHICO'S EPS DECLINE: Chico's FAS Inc. posted a 10 percent drop in first-quarter earnings, hurt by soft same-store sales, particularly in April. For the three months ended May 5, net income fell to $47.2 million, or 27 cents a diluted share, from $52.5 million, or 29 cents in the year-ago period. Sales for the quarter jumped 16 percent, to $453 million from $391 million last year, while total same-store sales fell 1.6 percent. Income from continuing operations was $49 million, or 28 cents a share, which was in line with company expectations. Chico's said its investment in the Soma brand reduced first-quarter earnings by about 2 cents a diluted share, and it expected the growth and development of the brand to cut full-year earnings by 7 cents to 10 cents a diluted share.
FILA TAPS EXECUTIVE: Fila has named Andrea Greco as vice president and chief operating officer for Fila USA, a new post. Most recently vice president of global sourcing for Plano, Tex.-based IT outsourcing firm EDS. Greco, 39, rejoins Fila USA, where he served as vice president of supply chain from 2001 to 2005. Greco also worked in operations and supply chain consulting for Ernst and Young in Italy and the U.S. and for IQXpert, a strategic sourcing software company. Based both in Fila's New York office and Sparks, Md., headquarters, Greco reports to Fila president Y.C. Cho. The activewear firm changed hands and leadership earlier this year.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion