News
« September 2007 | | November 2007 »
October 31, 2007
Liz Claiborne's Q3 Earnings Plunge 65 Percent
Third quarter earnings at Liz Claiborne Inc. plunged 65% to $33.1 million as buyers backed away from its partnered brands. The company is in the middle of a restructuring to rid itself of moderate brands such as Ellen Tracy and Dana Buchman in order to focus on key lines.
A look at the numbers indicates that this is a good idea. Sales of the company’s direct brands increased 18% in the quarter to $629 million. These brands include Juicy Couture, Lucky Brand Jeans, Kate Spade and Mexx.
Posted by Blacks at 09:40 AM | Comments (0)
October 30, 2007
Report: Investment Firm Considers Saks Buy
Investment firm Baugur Group is considering a buy of Saks Inc., according to a report out Tuesday. The Icelandic firm is already an investor in the department store chain.
If Baugur pursues the acquisition it may bring in a partner, Dubai-based Landmark Group.
Although Saks previously indicated that it wasn’t interested in a sale, recent reports have pointed to a sea change.
Posted by Blacks at 10:20 AM | Comments (0)
October 29, 2007
Lagerfeld In Distribution Deal To Expand Brand
Tommy Hilfiger Corp. has licensed the Karl Lagerfeld brand to an Italian manufacturer in the hopes of expanding the label in the U.S. and Far East.
Manufacturer Vaprio Stile will be in charge of production and distribution of the brand, starting with Lagerfeld’s fall 2008 collection.
Parent company Hilfiger is also reportedly considering a mass market collection under the Lagerfeld name, following the brand’s success in its collaboration with retailer H&M.
Posted by Blacks at 09:20 AM | Comments (0)
October 26, 2007
Macy's In Exclusive Deal With Tommy Hilfiger
Macy’s has penned a deal with Tommy Hilfiger to be the exclusive distributor of the brand’s sportswear line in the U.S. Macy’s already carries Tommy Hilfiger men’s wear, women’s wear and accessories under nonexclusive licenses.
Over the next few months Hilfiger will phase out distribution of its sportswear to other department stores, although it will still sell it in its freestanding stores and online.
The deal gives Macy’s an added air of exclusivity and strengthens Hilfiger’s position at the department store chain.
Posted by Blacks at 09:39 AM | Comments (0)
October 25, 2007
Talbots Lowers Expectations For Fall
Talbots curbed its expectations for fall sales after a weaker-than-anticipated quarter. The retailer said that it expects sales to be $65 million to $75 million below plan for fall after a disappointing start to the season.
Poor merchandise choices and unseasonably warm weather are being targeted as reasons for the loss.
The company said it has hired a consulting firm to evaluate its business and develop new sales strategies.
Posted by Blacks at 09:31 AM | Comments (0)
October 24, 2007
Despite Strong Q1, Coach Sees Slower Traffic
Coach Inc. posted a 23% jump in its first quarter income to $155 million. The leather goods company cited strong direct-to-consumer sales, which increased 26% to $508 million.
Coach warned, however, that traffic to its U.S. retail stores was slowing. While the company is currently being cautious it still plans to open 40 new stores in the U.S. over the next few years, saying overall its business is very strong.
Posted by Blacks at 12:52 PM | Comments (0)
October 23, 2007
Report: J. Crew Planning Standalone Men's Store
J. Crew is planning to open a standalone menswear store, according to recent reports. The company has seen a surge in its men’s business and the separate menswear floors in its regular J. Crew shops are attracting customers, it said.
The company is not clear where and when the men’s shop will debut, but all eyes are on its next move.
Posted by Blacks at 08:20 AM | Comments (0)
October 22, 2007
Brooks Bros. Appoints New President & COO
Brooks Bros. has selected Diane Hamilton to be the company’s new president and chief operating officer, reporting directly to chairman and CEO Claudio Del Vecchio.
Hamilton hails from Lighthouse Retail Group where she worked as a consultant to Brooks Bros. and other retail clients.
In her new role she will be in charge of operations, finance, human resources and supply chain management, among other duties.
Posted by Blacks at 08:02 AM | Comments (0)
October 19, 2007
New York & Co. To Exit JasmineSola Chain
New York & Co. is closing its chain of JasmineSola stores to pursue higher revenue opportunities. The company plans to shutter its 23 JasmineSola stores by the end of the year. At least some of the stores will be converted into New York & Co. locations.
JasmineSola focuses on trendy clothes and accessories younger women while New York & Co targets more mature career women.
Posted by Blacks at 09:42 AM | Comments (0)
October 18, 2007
Tiffany Introduces New Retail Model
Tiffany & Co. is adopting a less exclusive retail concept called Tiffany & Co. Collections. The jeweler plans to launch around 70 Collections stores, offering more affordable women’s jewelry and accessories. The new stores will be around 2,000 square feet in size and feature products in the $100 to $15,000 range. Engagement rings will not be included in the new concept.
Tiffany unveiled a Collections model to analysts and investors this week but did not say where the first stores would be located. The company hopes to debut the new concept in fall of 2008.
Posted by Blacks at 09:36 AM | Comments (0)
October 17, 2007
Helmut Lang Opens Two New Doors
Helmut Lang is taking on the West Coast with two new stores in Los Angeles and San Francisco. The new doors both cover around 5,000 square feet and feature minimalist steel fixtures and glass.
Lang parent company Link Theory Holdings sees a growing market in California for the brand’s cool, clean looks.
The L.A. store is located on Melrose Ave. while the San Francisco store occupies space on swanky Maiden Lane.
Posted by Blacks at 09:51 AM | Comments (0)
October 16, 2007
LVMH's Sales Surge 10% In Third Quarter
Third-quarter sales at LVMH Moët Hennessy Louis Vuitton jumped 10.3% to $5.5 billion, the company said this week. The luxury group saw strength across all of its businesses and especially in fashion and leather goods. Jewelry and watches also fared well, showing a 13% increase during the quarter.
Asia was a particularly strong market for the company. Sales in China increased 50% in the first three-quarters of the year, the company said, while U.S. sales rose 13% in the first nine months of the year.
Posted by Blacks at 10:00 AM | Comments (0)
October 15, 2007
Report: Iconix To Snap Up Artful Dodger
Iconix Brand Group is planning to buy streetwear brand Artful Dodger, according to a report in DNR. Iconix is expected to license out the brand but will keep founder Scott Langton onboard.
Artful Dodger is colorful and quirky streetwear brand sold at stores such as Boston’s Karmaloop. Analysts believe that the buy is aimed at helping Iconix reach more young male consumers.
Posted by Blacks at 02:26 PM | Comments (0)
Chopard To Open New NY Flagship
Luxury jeweler Chopard is opening a 3,000-square-foot store on Madison Ave. The new flagship is slated to open Nov. 12 and will feature a large selection of company’s fine watches and jewelry.
The Swiss company said that it’s experiencing increased demand for high-end jewelry, which now makes up about 15% to 20% of its business. Wealthy customers worldwide are seeing luxury pieces as a good investment, giving a boost to the market, the company said.
Posted by Blacks at 09:47 AM | Comments (0)
October 12, 2007
Stores Report Slower Sept. Sales
Retail apparel sales were down in September, in part due to unseasonably warm weather that kept consumers from buying fall goods. Department stores reported an average 1.7% dip for the month, according to a recent report. Specialty chains were hit even harder, showing a 2.3% decline.
Despite the apparel slowdown, economists seemed happy with September’s 0.2% increase in overall retail sales, saying that consumers are weathering the housing slump and other economic uncertainties.
Posted by Blacks at 10:30 AM | Comments (0)
October 11, 2007
Banana Exec Takes Top Role At Kate Spade
Kate Spade has named Deborah Lloyd as its new creative director and co-president in preparation for expanding the brand into new categories.
Lloyd hails from Banana Repubic where up until now she has held the title of executive vice president of product design and development. She will effectively replace company founder Kate Spade, who recently announced that she was stepping down from her position as designer. Her husband, Jack Spade, is also stepping down, leaving a vacancy in the retail and merchandising part of the business.
With the management change the company hopes to strengthen its position in handbags and then possibly move into jewelry and apparel.
Posted by Blacks at 10:00 AM | Comments (0)
October 10, 2007
NRF Predicts 4% Climb In Holiday Sales
Holiday sales are expected to climb 4% from last year to $475 billion, according to the National Retail Federation. The group is expecting a somewhat challenging season due to continued economic instability. Many retailers are already discounting, the group said, without explicitly mentioning the holidays in an effort to promote early sales.
We predict that luxury sales will remain a bright spot, however, as luxury buyers remain largely unaffected by the softening economy.
Posted by Blacks at 10:04 AM | Comments (0)
October 09, 2007
Tommy Hilfiger Could Be Up For IPO
Private equity group Apax Partners is considering an IPO of Tommy Hilfiger, according to recent reports. The group has allegedly approached a number of investment banks with the deal although Apax is making no official comment on the possible offering.
Tommy could be valued at as much as $3 billion, according to one estimate. Apax purchased the brand two years ago for $1.6 billion.
Posted by Blacks at 09:38 AM | Comments (0)
October 08, 2007
Claiborne's Top Merchandiser Leaves For Coach
Liz Claiborne President and Chief Merchandising Officer Michele Parsons has left the company to join Coach as a vice president of women’s handbags. She will report directly to Senior Vice President of Women’s Handbags Francine Della Badia.
Parsons’ exit comes just a year after joining Liz Claiborne and in the middle of the fashion company’s restructuring efforts.
Posted by Blacks at 09:31 AM | Comments (0)
October 05, 2007
Report: Hermès Pondering Men's Stores
Hermès is thinking about opening stand-alone men’s stores, according to a recent report in WWD. The French luxury brand has seen steady annual growth of 10 percent to 15 percent in its menswear business in recent years and wants to test expansion of the category.
Potential markets include the U.S. and China where there is a high rate of spending in luxury categories.
Posted by Blacks at 09:45 AM | Comments (0)
October 04, 2007
New Helen Wang Collection Taps Into Dress Trend
Contemporary designer Helen Wang is launching an upscale collection of dresses under the new HW Helen Wang label. The collection is being offered to high-end specialty stores for next spring with wholesale prices from $230 to $380.
Wang is definitely tapping into a trend, as dress sales have skyrocketed over the last year. The designer is hoping that the new collection will to do $1 million in wholesale in its first year.
Posted by Blacks at 09:38 AM | Comments (0)
October 03, 2007
Stella McCartney Turns Its First Profit
Stella McCartney Ltd. has reached profitability, reporting earnings of around $369,000 for 2006. Parent brand Gucci Group gave the label until 2007 to turn a profit as a way to keep tabs on the developing business.
Gucci has been busy forging new sales agreements for Stella over the last year to increase its profile and distribution. Now the company says that it wants to consolidate the brand and concentrate on improving its existing business.
Posted by Blacks at 10:02 AM | Comments (0)
October 02, 2007
Lagerfeld Gets Shady With New Eyewear Collection
Karl Lagerfeld is launching his own eyewear collection, which will be available in department and specialty stores in January. The collection will be produced and distributed by Marchon Eyewear with prices ranging from $175 to $250.
The move seems like a no-brainer for Lagerfeld, who is never seen without his own signature shades. The first line, dubbed Sun, features 24 styles in a variety of colors.
Posted by Blacks at 09:56 AM | Comments (0)
October 01, 2007
YSL Has High Hopes For New Online Boutique
Yves Saint Laurent is hoping to cash in on e-commerce sales this holiday season with the launch of a new Website and online boutique. The site, at YSL.com, is being relaunched with a heavy use of Flash, visuals and exclusive features.
The company says it expects its online channel to become one of its top revenue producers over the next few years and from the look of recent luxury online sales growth we believe it.
Posted by Blacks at 10:19 AM | Comments (0)