The Calvin Klein business was the fourth-quarter superstar at Phillips-Van Heusen Corp., which managed to drive net income up 13.4 percent despite weakness in the group's other wholesale and retail businesses. "Calvin Klein continues to exhibit strength both domestically and internationally and is driving our revenue and earnings growth," said Emanuel Chirico, chairman and chief executive officer. "There continues to be high global demand for our Calvin Klein brand, and this demand continues to grow as we enter into additional markets, such as China, India and Russia, and new product categories, such as cosmetics."Profits in the quarter advanced to $30.3 million, or 55 cents a diluted share, from $26.8 million, or 47 cents, a year ago. Total revenues for the three months ended Feb. 3 rose 4.9 percent to $584.5 million from $557 million, which included a 4 percent gain in wholesale sales to $507 million.For the year, earnings shot up 30 percent to $183.3 million, or $3.21 a diluted share, on a 16 percent rise in revenues to $2.43 billion.In the quarter, operating earnings for the firm's Calvin Klein licensing segment increased 37 percent to $33.4 million on a 14.2 percent rise in revenues to $70 million.Chirico said the company would continue to keep "international growth opportunities at the forefront of our strategy."Some of those initiatives include Izod women's sportswear, Calvin Klein specialty stores and Timberland men's sportswear. About 25 percent of the firm's consolidated earnings before interest and taxes are generated internationally, "driven by a significant international component of the Calvin Klein licensing business," Chirico said.Earnings per diluted share are slated to rise to $3.30 to $3.40 in 2008 on a projected sales gain of 7 to 8 percent to $2.6 billion.Also on Monday, PVH said it inked a licensing deal with Arvind Mills to produce and market Izod-branded apparel in India. Under the new license, Arvind can distribute the goods both at wholesale and through Izod-branded stores. Arvind was founded in 1931, and also has a joint venture with VF Corp. to sell that company's Wrangler, Lee, Nautica, and Kipling brands on the subcontinent.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim