In Brief: Women’s Wear Boosts Boss … Bush Signs Bankruptcy Bill … Tommy’s New Credit Line …
WOMEN’S WEAR BOOSTS BOSS: Hugo Boss AG is off to a strong start this year with net earnings rising 17 percent on a sales gain of 14 percent for the first quarter. In preliminary figures released Wednesday, the Metzingen,...
WOMEN’S WEAR BOOSTS BOSS: Hugo Boss AG is off to a strong start this year with net earnings rising 17 percent on a sales gain of 14 percent for the first quarter. In preliminary figures released Wednesday, the Metzingen, Germany-based fashion group said net income for the quarter came in at 52 million euros, or $68.2 million, on sales of 406 million euros, or $532.8 million. Earnings before interest and taxes showed a gain of 13 percent to 77 million euros, or $101.1 million. Dollar figures are at the average exchange rate. The company noted that Boss Woman “maintained its dynamic growth” with a year-over-year sales increase of 37 percent to 26 million euros, or $34.1 million. “We once again significantly outperformed the overall fashion market in the first quarter of 2005,” said Dr. Bruno Sälzer, chairman, in a statement.
BUSH SIGNS BANKRUPTCY BILL: President Bush signed into law on Wednesday the Bankruptcy Abuse Prevention & Consumer Protection Act of 2005. The legislation is a major overhaul of the nation’s bankruptcy laws and was sought by retailers and credit card companies because it requires more people filing for Chapter 11 to repay at least a portion of their debt. The law increases the limit on purchases of luxury goods or services that can be shielded in bankruptcy. The measure makes it easier for merchants to approach debtors in bankruptcy with reaffirmation agreements that allow them to keep merchandise bought on credit by renegotiating payment schedules. It also sets a 120-day deadline for bankrupt tenants in shopping malls to decide whether they will terminate their leases.
TOMMY’S NEW CREDIT LINE: Tommy Hilfiger Corp. said Wednesday that its wholly owned subsidiary, Tommy Hilfiger USA Inc., closed on a $150 million letter of credit facility. The new financing, to be used for normal trade financing and other general purposes, replaces an existing facility that was due to expire July 1. The new facility was arranged by J.P. Morgan Securities Inc.
STAR SEARCH: Aéropostale, the mall-based specialty retailer of casual apparel and accessories, will celebrate the opening of its 600th store at the Westfield Palm Desert Shopping Center in Palm Desert, Calif., with a model search on April 28. Representatives from the Aéropostale marketing team, along with fashion photographer Sasha Eisenman, will choose one boy and one girl, above the age of 13, to be featured in an upcoming Aéropostale marketing campaign. Each winner will receive a trip for two to an undetermined location, where they will model in an Aéropostale photo shoot.
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge
Jewelry label @alisonlou has made a name for itself with fine jewelry that speaks to the Millennial market. Now @twallz21 reports that the label is bringing those playful ideas to a new affordable line of lucite hoops with the launch of Loucite by Alison Lou. Here’s a look from the line modeled by @emrata. #wwdaccessories
@sarahjessicaparker and @gilt are teaming up on a bridal ready-to-wear line. Tomorrow, Parker will launch SJP by Sarah Jessica Parker Bridal — and as part of the launch, Gilt will offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear collection that were designed to complement the new line. Made out of 10 styles, the line is designed for a variety of occasions, from bridal showers to receptions. Get more details on WWD.com #wwdfashion
A grooming moment between @tanfrance and @antoni last night at the The LGBT Community Center Trailblazer Awards honoring Anna Wintour, Ricky Martin and more. See more photos at WWD.com #wwdeye (📷: @lexieblacklock)
“It was a very surreal feeling. It wasn’t like we were in the studio together coming up with it — it’s more like he discovered it and loved it. I didn’t let myself get my hopes up, but then it happened it was very exciting,” said singer-songwriter @nombe on discovering that @pharrell would be using his song, “Cant Catch Me” on his HBO documentary series “Outpost.” The German-born singer — named Noah MacBeth — talked to WWD about feminism, using art as a platform for political expression and personal style. Read more on WWD.com #wwdeye (📷: @jilliansollazzo)
This season, denim is going west – in influence. Brands like @fathersdaughterla (pictured here), @tommyhilfiger Jeans, @levis and more are opting for raw, top-stitching styles. (Styled by @thealexbadia; 📷: @ryanplett)