Ralph Lauren Corp.’s fourth-quarter results put the company in the black this year, and the firm also bested Wall Street’s consensus estimates for revenues and for diluted earnings per share.Investors liked the news, sending Ralph Lauren shares up 13.5 percent to $132.39 in early trading.For the three months ended March 31, net income was $41.3 million, or 50 cents a diluted share, compared with a net loss of $204 million, or $2.48, a year ago. On adjusted basis, diluted EPS was 90 cents. Net revenues slipped 2.3 percent to $1.53 billion from $1.57 billion. North American comparable-store sales were flat, with a 6 percent gain in brick-and-mortar stores that was offset by an 18 percent decrease at ralphlauren.com, due mostly to a planned reduction in promotion frequency.Wall Street was expecting adjusted EPS of 83 cents on revenues of $1.48 billion.For fiscal 2018, net income was $163 million, or $1.97 a diluted share, on revenues of $6.2 billion.Sales in North America fell to $759.3 million from $881.8 million, while sales grew in both Europe and Asia. Sales in Europe rose to $420 million from $370.8 million, while in Asia increased to $256.8 million from $219.7 million.Ralph Lauren, executive chairman and chief creative officer, said, “Patrice [Louvet, president and chief executive officer] and I have developed a strong partnership over the past year and I am confident that we are on the right path as we kick off our 50th anniversary celebration and build the future of our iconic company and brand.”Louvet, who said the company delivered on its promises for the quarter and full year, added, “We start the new year with a solid foundation — including a clear strategic plan to deliver long-term growth and value creation, an engage global organization, and a strong balance sheet.”The ceo said the company will provide more details about its strategic plan on June 7, when the company holds its Investor Day for analysts. Further, the company welcomed Michael George to its board, and Louvet said Angela Ahrendts will be nominated for election to join the company’s board in August.Some of those initiatives that Louvet referred to included average unit retail across direct-to-consumer network up 4 percent for the full year; discount rates down across all regions; continued closure of unproductive distribution and reduction in off-price penetration; expanded store network in Asia; reduced adjusted operating expenses through increased efficiencies, and an achieved goal of having 90 percent of products on nine-month lead times.For fiscal 2019, the company said it expects net revenues to decrease low single-digits in constant currency. For the first quarter, the company guided net revenue to be flat to down slightly in constant currency.
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)