G-III’S SPORTSWEAR FOCUS: G-III Apparel Group Ltd. widened its third-quarter loss, even though sales skyrocketed 55 percent. For the period ended Jan. 31, the New York-based outerwear and sportswear firm’s loss expanded to $4.5 million, or...
G-III’S SPORTSWEAR FOCUS: G-III Apparel Group Ltd. widened its third-quarter loss, even though sales skyrocketed 55 percent. For the period ended Jan. 31, the New York-based outerwear and sportswear firm’s loss expanded to $4.5 million, or 66 cents a diluted share, versus a loss of $3.7 million, or 55 cents, in the year-ago quarter. Excluding a $3.4 million aftertax charge in connection with the closure of an Indonesian manufacturing facility, the loss would have narrowed to $1.1 million, or 16 cents, from last year. Sales were up 55 percent to $47.7 million from $30.7 million. For the nine months, income fell 83.8 percent to $382,000 from $2.4 million last year. Sales were essentially flat, gaining just 0.6 percent to $202.7 million from $201.4 million. Morris Goldfarb, chairman and chief executive officer, said in a statement, "Our sports apparel business is expected to be the most significant driver of revenue growth." The firm’s newer businesses include Cole Haan and Sean John. It has a new men’s line under the licensed James Dean name, and its own new women’s brand, Black Rivet.
FAMILY TIES: Strong sales led to commensurate bottom-line gains at Family Dollar Stores Inc. in the second quarter. For the three months ended March 1, the Matthews, N.C.-based discount retail chain reported net income climbed 14 percent to $72.7 million, or 42 cents a diluted share, versus year-ago profits of $63.8 million, or 37 cents. Earnings per share matched the Wall Street consensus estimate. Sales for the period advanced 13.7 percent to $1.26 billion from $1.11 billion a year ago, as same-store sales increased approximately 2.9 percent. In a statement, chief executive officer Howard Levine attributed the robust results to increased sales in existing stores and to sales recorded in new stores opened as part of the company’s expansion program. Strong sales of core basic consumable goods continued to be strong, said Levine, and he noted this was the 28th consecutive quarter of profit growth. An 80 basis point expansion of gross margin as a percentage of sales also added to the increased earnings. Overall, for the first half of the year, Family Dollar recorded a 14.2 percent gain in net income to $130.2 million, or 75 cents, versus $114 million, or 66 cents, a year ago. Sales for the half rose 13.6 percent to $2.36 billion from $2.08 billion last year, as comparable-store sales increased approximately 3 percent.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty