In Japan, Onward said that it had seen success with new sales channels, including its online business.
The company also said that despite an aggressive international expansion plan, apparel sales outside of Japan had fallen far short of its forecasts. It attributed this to a rapid deceleration in consumer spending brought on by a deteriorating global economy and political uncertainties.
Onward also released its guidance for the current fiscal year, ending Feb. 28, 2014. The company expects net profit will grow 11 percent to 5 billion yen, or $52.75 million at current exchange rates. It predicts operating profit will increase by 15.3 percent to 12.9 billion yen, or $136.10 million. Onward is forecasting a 5.7 percent sales increase for the year, with net sales to total 273 billion yen, or $2.88 billion.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
Stay up to do date with breaking news and trending stories with WWD’s “The Essentialist.” Our newsletter delivers the top news in fashion right to your inbox. Want more info? Link in bio. #wwdfashion (📷: @kukukuba)
"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.