ATLANTA — The tough retail environment continues to dampen sales and earnings for Oxford Industries, which reported a fall in net earnings to $509,000, or 3 cents per diluted share in the two-month stub period, ended Feb. 2, from $2.8 million, or 16 cents, in the two-month period a year ago.
Consolidated net sales slipped to $163.4 million from $164.4 million in the two-month period, which completes Oxford’s transition to a new fiscal calendar.
Net earnings for the eight-month transition period fell about 26 percent to $19.2 million, or $1.11 per diluted share, in the eight month transition period, from $26.1 million, or $1.47 per diluted share, in the prior year’s eight month period. Sales fell about 6 percent to $695.8 million from $739.5 million.
Even Oxford’s star performer, Tommy Bahama, reported sales in the eight-month transition period slightly lower from a year ago, slipping to $284.6 million from $286.8 million. Oxford said current difficult macro-economic environment negatively impacted the results of Tommy Bahama’s wholesale operations and resulted in lower productivity than has been historically realized in the group’s retail sector.
Ben Sherman reported a modest sales increase of 2.1 percent to $101.6 million in the eight-month transition period from $99.5 million. Lanier Clothes reported a net sales decline of 4 percent to $107.5 million in the period from $111.9 million in the prior year’s eight-month period, which Oxford attributed to sluggish demand for moderate tailored clothing.
Oxford Apparel also saw sales fall in the eight months to $201.3 million from $239.9 million, which Oxford attributed to planned sales reductions as underperforming businesses were rationalized.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast