LVMH MOËT HENNESSEY LOUIS VUITTON managed to dodge the effects of the Iraqi war and SARS in the first quarter, but not the dramatic shifts in international currency markets. A negative currency impact of about 11 percent hurt the performance of...
LVMH MOËT HENNESSEY LOUIS VUITTON managed to dodge the effects of the Iraqi war and SARS in the first quarter, but not the dramatic shifts in international currency markets. A negative currency impact of about 11 percent hurt the performance of the luxury giant, which saw sales fall 5.2 percent to $3 billion in the three months ended March 31. A drop in global travel because of SARS and the war in Iraq have only impacted DFS, which saw sales drop 6 percent in March. But other regions fared well, with group sales up 10 percent in the U.S. and up 15 percent in Japan. In the U.S., LVMH’s sales of fashion and leather goods advanced 11 percent; Louis Vuitton, 28 percent, and Sephora, 17 percent. While all divisions experienced sales declines in net terms, only the watches and jewelry unit posted an organic sales drop. LVMH isn’t slated to disclose first-half profits until September.... GUCCI GROUP’s fourth-quarter profits climbed 1.7 percent to $102 million, or 99 cents a share, from $100.2 million, or 98 cents a share, boosted substantially by cost cuts and a lower tax burden. Revenue for the quarter rose 1.6 percent to $763.9 million from $751.7 million as double-digit growth at Yves Saint Laurent, YSL Beauté and brands like Bottega Veneta compensated for a 7 percent decrease in sales for the core Gucci brand. The Gucci division saw its sales drop 7 percent to $472.9 million from $508.7 million in 2001. The strong fourth quarter only partially counterbalanced a weaker first nine months for Gucci. In 2002, net profits dropped 27.4 percent to $242.4 million from $334 million. Revenues slid less than 1 percent to $2.71 billion from $2.75 billion.... A 22.4 percent spike in second-half revenue allowed BURBERRY GROUP PLC to breeze past its revenue target for the year ended March 31. Second-half revenues jumped ahead to $502.4 million from $411 million in the last six months of the prior year. This would place full-year sales at $932.1 million, 18.9 percent ahead of last year’s $783.4 million and nearly $40 million past the goal of $894.9 million established internally, although never released by the company, at the time of its initial public offering last summer. Burberry plans to report full-year results, including profit figures, on May 22.... Double-digit sales growth in accessories and markets like Asia and Italy lifted BULGARI’s first-quarter profit and revenue as the firm reiterated its concerns over the damaging impact of SARS. Net profit for the three months ended March 31 rose 26.7 percent to $13.2 million from $10.4 million in the year-ago period. Revenue rose 3 percent to $185.2 million, but Bulgari said growth would have been 9 percent at constant exchange rates.... Cerruti parent FIN.PART, which is seeking to recapitalize after auditors rejected its balance sheet, managed to swing into the black for the first quarter of the year. Net profit for the three months ended March 31 came to $736,765 compared with a loss a year earlier of $4.11 million. Sales rose 1.7 percent to $150.7 million from $148.2 million, but the company said it gained 7.1 percent, stripping out results from the Boggi store chain, which Fin.part sold in February. The firm said sales in April rose 29.7 percent to $33.1 million from $25.5 million.... HERMÈS INTERNATIONAL posted better-than-expected first-quarter results, but they were tempered by the detrimental effects of the strong euro and their prospects by concern over the disruptive effects of SARS on business in east Asia. Slammed by negative currency effects, sales at Hermès fell 3.2 percent to $336.4 million in the first quarter versus $347.6 million a year ago. However, analysts characterized it as a healthy performance since organic sales growth, eliminating the effect of currency fluctuation, amounted to 5.5 percent in the period — above their expectations. They praised strong sales of leather goods, up 10 percent in real terms; impressive figures in Japan, up 14.2 percent in local currency, and the rest of Asia, up 18.6 percent in local currencies.... MARZOTTO, owner of the Valentino and Hugo Boss fashion houses, said its sales for the quarter ended March 31 rose 3.4 percent to $593.9 million, aided by the consolidation of Valentino, which it bought in spring 2002. Clothing accounted for 86 percent of the total with textiles comprising the balance. Marzotto reiterated that Valentino is still on track to break even in 2004. In 2002, Valentino widened its operating loss to $13.8 million from a loss of $3 million the year before. Sales rose to $149.4 million from $144.7 million.
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