Jos. A. Bank Clothiers Inc. managed to keep up its winning financial ways in the first quarter, growing both the top and the bottom lines.
Net income for the quarter rose 16.5 percent to $11.5 million, or 62 cents a share, from $9.8 million, or 53 cents, a year earlier. Results topped the 58 cents analysts were looking for by 4 cents.
Sales for the quarter ended May 3 increased 11.4 percent to $161.9 million from $145.4 million. Comparable-store sales rose 4.3 percent as direct marketing sales advanced 12.1 percent.
In addition to increasing sales, the Hampstead, Md.-based firm, which sells men’s tailored and casual apparel through its 465 stores as well as catalogues and a Web site, is cutting back on costs. Sales and marketing expenses for the quarter rose on a net basis, but fell to 40.1 percent of sales from 41.9 percent a year earlier.
Last year, the company managed to boost profits by 16.4 percent to $58.4 million on an 8.9 percent comp-sales increase.
“Because we source so well, we can be aggressive on price and still make money,” Neal Black, chief executive officer, told WWD following the release of the results. Sales have improved, he added, because “we’ve been able to do marketing that is breaking through and stimulating the customer to buy.”
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast