FORSTMANN FACES LARGER LOSS: A combination of higher wool prices, higher interest rates and sluggish sales of women's outerwear fabric will produce sharply lower earnings in fiscal 1994 and a large fourth-quarter loss at Forstmann & Co. The company said Friday it expected to report net income applicable to common shares for the year ended Oct. 31 of 50 to 60 cents a share compared with $1.15 in fiscal 1993. In the nine months to July 31, Forstmann earned $6.4 million, or $1.15 a share, indicating a fourth-quarter loss of 55 cents to 65 cents a share. The firm lost 22 cents in the year-ago fourth quarter. Sales for the year are expected to be up slightly from $233 million in 1993, and operating income is seen declining to the range of $22 million to $24 million, against $26.6 million. Because of higher rates and increased borrowing, interest costs in 1994 will be about $1.8 million higher than last year. William B. Towne, chief financial officer, said that increase translated into 10 cents a share for the quarter and about 18 cents for the full year. He estimated that the increase in wool prices took another 10 cents off 1994 earnings. Towne said the warm weather had cut into retail sales of outerwear "and that has backed up to us." He added that he expected earnings to be much better next year than in 1994. Audited results for fiscal 1994 are scheduled to be released in early January.
AMICALE-FEIN, PART TWO: Amicale Industries, New York, the world's largest dehairer and comber of cashmere and camel hair, has acquired the remaining 50 percent interest in W. Fein & Sons Ltd., Bradford, West Yorkshire, England, one of Europe's largest combers and dehairers of the two luxury fibers. Terms of the deal were not disclosed. As reported, in January, Amicale acquired 50 percent of W. Fein. Boris Shlomm, president of Amicale, has added the new post of chairman of W. Fein; the present operating officers--David Lee, managing director, and David Mallin, managing director of sales--will remain in their current posts. Alexander Shlomm, vice president of Amicale, will act as a liaison officerbetween the U.S. and U.K. companies. With the acquisition, Amicale now has three luxury-fiber processing mills: in Charlotte, Va.; in Bradford, and one in Mongolia as part of a government-sponsored joint venture with the Mongolian Ministry of Trade and Industry. Shlomm would not divulge Fein's sales figures.
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
For @versace_official’s spring ad campaign, the brand emphasized the archival prints from the spring tribute collection dedicated to the late Gianni Versace. Closing out the show were five of Gianni’s favorite models: Cindy, Naomi, Carla, Helena, and Claudia. Bowing on December 18, the new campaign is yet another tribute to supermodel-dom as the images by Steven Meisel are fronted by @iamnaomicampbell, @cturlington, @gisele and more. #wwdfashion
Four-time Oscar-nominated actress Annette Bening has been waiting 20 years to play Gloria Graham in "Film Stars Don't Die in Liverpool," which will be released on December 29. The movie about Graham – a Hollywood star known for her controversial relationship with a younger Englishman named Peter Turner – is based off a memoir Turned wrote. "She felt vulnerable to him, because she loved him, she really did love him. And anyone that we really truly are in love with, we re vulnerable to in a very deep way," said Bening. Read our full interview with the modern icon of an actress on WWD.com. #wwdeye (📷: @ninebagatelles; Styled by @cristinaehrlich)
The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
Known for her work with @victoriassecret, 25-year-old model @georgiafowler is raising her profile in Hollywood. Fowler stars in @vincecamuto’s holiday campaign, which launched in partnership with “Pitch Perfect 3.” “Almost every shoot with Vince Camuto, I’ve had to face a fear…It was definitely a challenge. I’m so grateful for it, though. I’ve always wanted to be a pop star, so that was the perfect chance,” Fowler said. Head to WWD.com to read about Fowler’s experience modeling, including at the #VSFashionShow, and her relationship with Nick Jonas. #wwdeye (📷: @jilliansollazzo)
EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)