The Warnaco Group Inc. on Thursday posted a decline in first-quarter income, but said it has been investing in the business to drive revenue growth and raised fiscal year 2011 guidance. For the three months ended April 2, income was $44 million, or 97 cents a diluted share, down from $48 million, or $1.02, last year. Excluding restructuring charges and other expense items, income per diluted share from continuing operations was $1.10 versus $1.09 a year ago. Revenues rose 12.6 percent to $662.2 million from $588.2 million, while comparable store sales rose 8 percent. By segment, sportswear sales rose 10.8 percent to $339.5 million, intimate apparel sales increased 13.9 percent to $221 million and swimwear sales jumped 15.7 percent to $101.7 million. By region, the company’s biggest growth area was Mexico, Central and South America, where revenues rose 37.8 percent to $51.7 million. Asia was its second-largest-growing sector, with revenues climbing 30.6 percent to $126.8 million. The United States lagged with a 5.3 percent revenue gain to $285.1 million, with Europe was not much better, with revenues rising just 7.1 percent to $168.5 million. Joe Gromek, president and chief executive officer, said the firm’s selling, general and administrative expenses rose 20 percent as it expanded its Calvin Klein business, grew company-owned retail locations and launched CK One as a lifestyle brand. He noted that “Calvin Klein revenues increased 13 percent, international revenues were up 19 percent and we increased our direct-to-consumer revenues 36 percent.” Executives on the call noted that the firm has been able to pass through price increases in most regions, whether in Canada, Latin America or Asia. It also believes it can start to do the same in Europe, although in the U.S. perhaps not as much, since the market is more price sensitive. The company raised guidance for fiscal year 2011, and now expects adjusted diluted earnings per share from continuing operations in the range of $3.95 to $4.15, up from an earlier estimate of $3.85 to $4.15.
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)
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)