GOTTSCHALKS REVISES EARNINGS: Gottschalks Inc. late Friday released its audited fourth-quarter and full year financial results, which showed that its losses for both periods ended Feb. 1 were about $400,0000 deeper than the company had reported in its...
GOTTSCHALKS REVISES EARNINGS: Gottschalks Inc. late Friday released its audited fourth-quarter and full year financial results, which showed that its losses for both periods ended Feb. 1 were about $400,0000 deeper than the company had reported in its initial March earnings statement. According to Friday’s statement, the net loss for the fourth quarter was $4.6 million, or 36 cents a share, and the loss for the year was $12 million, or 94 cents a share. In March, the retailer reported an unaudited fourth-quarter loss of $4.2 million, 33 cents a share, and an annual loss of $11.6 million, or 91 cents a share. The Fresno, Calif.-based retailer did not explain the reason for the discrepancy and company officials did not respond to phone calls Sunday. The company’s audited 10-K filing with the Securities and Exchange Commission showed that costs of sales for the year were an audited $457.1 million, higher than the unaudited report of $456.5 million.
ARMAND MARCIANO EXITS GUESS: Armand Marciano, one of the brothers who founded and ran the Los Angeles-based jeans company Guess Inc. for two decades, resigned from the company Friday. The 58-year-old senior executive vice president and assistant secretary had been on medical leave since November. Marciano holds an 11.7 percent stake in Guess, and as reported, has registered to sell off his holdings. His brothers, Maurice and Paul, continue to serve as co-chairmen and co-chief executives. A fourth brother, Georges, is no longer associated with the company.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)