NEW YORK — The Warnaco Group Inc. posted strong fourth-quarterearnings, beating analysts’ estimates, but the company gave 2011guidance that was less than expected. Joe Gromek, president andchief executive officer, said the firm’s retail business was off to astrong start this year and the firm was poised to continue its globalexpansion, but he also acknowledged price increases building in thesupply chain. “While we are clearly facing product cost andsupply chain inflation, we believe our business model, anchored by ourpowerful Calvin Klein brand and our high-margin international and retailoperations, positions us to address these challenges,” he said. Netincome for the quarter ended Jan. 1 rose 74 percent to $19.2 million,or 42 cents a diluted share, from $11 million, or 23 cents, a yearearlier. Revenues increased 17 percent to $591.5 million from $505.4million. Adjusted earnings of 74 cents beat Wall Street’s best guess by 4cents. Annual profits rose 44.4 percent to $138.6 million, or$2.99 a diluted share, on a 13.7 percent increase in revenues to $2.3billion. Adjusted annual profits tallied $3.57 a share, a figureWarnaco plans to boost to $3.85 to $4.05 this year — below the $4.08analysts projected. The firm projected revenue growth of 7 to 9 percentthis year. Shares of Warnaco inched up 1.3 percent to $59.71Monday, prior to the afternoon earnings report. The stock was down inafter-market trading. In all, it was a quiet day for themarkets. The S&P Retail Index advanced 0.2 percent, or 0.96 points,to end at 512.79, as the Dow Jones Industrial Average increased 0.8percent, or 95.89 points, to close at 12,226.34. Shares of J.Crew Group Inc. slipped 10 cents to $43.12. The falling price couldindicate some trepidation ahead of today’s shareholders’ meeting, whereinvestors are scheduled to decide whether to sell the company to TPGCapital and Leonard Green & Partners for $43.50 a share, or about $3billion.
“I design by visualization. I see things, and most of the time they’re not practical to actually make, and what I’ve found here, it’s like anything’s possible. This is the first time that I’ve made a sole unit in two months. That process usually would take six, so here’s a difference,” said @virgilabloh of the first sneaker sample he created for @louisvuitton, pictured here. 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
“I genuinely fell in love with water, I fell in love with Fiji, I fell in love with the whole life that we lived for those few months,” says @mrsamclaflin of filming for his new movie “Adrift” with @shailenewoodley. The 31-year-old actor spoke with WWD about his upcoming projects, meeting Jamie Dornan and working with co-star Woodley. #wwdeye (📷: @jamstoker)
3 years ago, fans of the late singer Aaliyah started calling for a collaboration with @maccosmetics. With the strength of social media — including mock ups of products — 25,000 people signed a Change.org petition for a limited-edition collection, and MAC couldn’t ignore the buzz. Tomorrow, MAC will unveil MAC x Aaliyah, a tribute to the singer who passed away nearly 17 years ago. Head to our stories to preview the new collection, which was worked on by Aaliyah’s family and inspired directly by her makeup bag. #wwdbeauty
Artistic director @clarewaightkeller will be dedicating @givenchyofficial’s fall 2018 couture show in Paris on July 1 to house founder Hubert de Givenchy, who passed away in March at age 91. Givenchy said the collection would be “an homage to his iconic creations, technique, and personal lexicon” and a “celebration of his timeless elegance and grace.” Head to WWD.com to read more. #wwdfashion (📷: Delphine Achard)
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)