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March 30, 2007
Movado's 2006 Sales Shine
Movado Group’s 2006 earnings jumped 88 percent to $50.1 million, while sales for the year climbed 13 percent to $533 million.
The watchmaker expects a dip in earnings this year due to a higher tax rate, but that isn’t stopping the company from celebrating its 60th anniversary in fiscal 2008.
The anniversary will be marked by the debut Movado’s new Lacoste line of watches. The company also plans to highlight its heritage through new marketing campaigns and products.
Posted by Blacks at 12:00 PM | Comments (0)
March 29, 2007
Dior To Replace Slimane?
Dior Homme is reportedly considering replacing designer Hedi Slimane with Belgian Kris Van Assche.
The French fashion house is aiming to begin a new era in its men’s wear collections, and Van Assche could be a good fit. The designer worked alongside Slimane before setting out to create his own signature collection in 2005.
Despite being highly praised in the fashion world, Slimane reportedly irked Dior heads with numerous contract demands.
Posted by Blacks at 10:16 AM | Comments (0)
March 28, 2007
PVH To Open More Calvin Klein Stores
Phillips-Van Heusen’s investment in Calvin Klein has been a resounding success and the company plans to add more stores, it said this week.
The Calvin Klein brand has posted 14 percent top-line growth over the last three years, beating industry expectations.
PVH plans to open 5 to 10 more Calvin Klein stores in mall locations later this year to showcase the brand’s white label line.
Posted by Blacks at 10:57 AM | Comments (0)
March 27, 2007
Tiffany's Sales Shine Abroad
Tiffany & Co. reported fourth-quarter earnings of $140.5 million, up just 0.2% from a year ago. U.S. sales increased by 13 percent for the quarter ended Jan 31, while sales for the full year 2006 rose 10.6% to $2.65 billion.
The luxury jeweler also reported strong international sales, saying that it reaped $1 billion abroad last year, despite a soft Japanese market. Tiffany plans to open 10 new international stores this year.
Posted by Blacks at 09:42 AM | Comments (0)
March 26, 2007
Tommy To Floridians: Relax
Tommy Bahama is opening is new concept store in South Naples, Florida called “Relax.”
The store, due to open April 1, will feature Tommy’s Relax line of weekend and resort clothes. The majority of goods will be men’s wear, with some women’s accessories and swimwear thrown in.
Posted by Blacks at 09:50 AM | Comments (0)
March 23, 2007
Material Girl Launches New Line At H&M
Swedish retailer H&M rolled out its latest celebrity fashion capsule on Thursday, designed by Madonna. The M by Madonna line consists of 30 pieces of chic basics selected by the superstar.
Body suits, skinny black pants, nylon trench coats and cropped jackets were just some of the garments on display.
The collection attracted a large crowd at the New York H&M, but the scene relatively calm compared to the launch of Karl Lagerfeld’s capsule collection.
Posted by Blacks at 08:41 AM | Comments (0)
March 22, 2007
Burberry Gets Sporty With Exanded Icon Line
Burberry is expanding its Icons collection, adding luxury sportswear and eveningwear. The British brand is launching Burberry Sport this fall, offering glamorous ski jackets and snow boots among other luxe logo items.
The Icons collection, launched last year, was previously made up of ready-to-wear and accessories sporting signature Burberry details.
Posted by Blacks at 12:32 PM | Comments (0)
March 21, 2007
Perry Ellis Reports Jump In 4Q Earnings
Perry Ellis International saw a 32 percent gain in earnings during its fourth quarter, to $10.7 million. Sales for the quarter ended Jan. 31 increased by 8.3 percent to $232 million.
The fourth quarter results outshined the company’s year-end sales, which dropped 2.3 percent. Perry Ellis management said it was working on improving performance by cutting distribution costs and sales allowances.
Posted by Blacks at 08:23 AM | Comments (0)
March 20, 2007
Abercrombie Launches British Invasion
Abercrombie & Fitch has made a daring move oversees by opening a location on London’s posh Sevile Row, home to the city’s famous bespoke tailors. The new store, which opened Monday, is A&F’s first European foray.
Company executives said the choice of location fit with the brand’s preppy tradition, despite the fact that it’s a mass market chain.
Posted by Blacks at 09:55 AM | Comments (0)
March 19, 2007
Brooks Brothers To Unveil Thom Browne Line
Brooks Brothers will unveil this week a new line of men’s and women’s wear designed by Thom Browne. The collection, called Black Fleece, will reflect Brooks Brothers’ tradition while giving it a Thom Borwne twist. The innovative designer, known for his short pants and sleek tailoring, said he has long appreciated the Brooks style and has tried to integrate it with his own.
The new collection will be at the high-end of Brooks’ usual price scale and will be sold at stores in the U.S., Europe and Asia.
Posted by Blacks at 09:38 AM | Comments (0)
March 16, 2007
True Religion's Sales Surge In Q4
True Religion Apparel reported a 17 percent jump in sales for the fourth quarter of 2006 to $30 million. Net income for the quarter ended Dec. 31 surged nearly 33 percent to $5 million, thanks to an expanded product line and strong performance of the company’s retail outlets.
True Religion says it plans to open four additional locations: in Houston; New York; Corte Madera, Calif., and Valley Fair, near San Jose, Calif.
Separately, the company said that cofounder Kym Lubell was leaving the company to launch a high-end jewelry label.
Posted by Blacks at 09:10 AM | Comments (0)
March 15, 2007
Zoe, Mellon To Sit On Halston Board
Halston has recruited star stylist Rachel Zoe and Jimmy Choo founder Tamara Mellon to sit on the company’s advisory board. In their new roles, the fashionistas will help set up a new creative team and oversee fashion shows.
The Halston brand was purchased by Harvey Weinstein and private equity firm Hilco Consumer Capital earlier this week and speculation is running rampant about who will be selected as chief designer.
Posted by Blacks at 09:41 AM | Comments (0)
March 14, 2007
Gucci To Open Mexico City Location
Gucci is opening a 4,844-square foot store in Mexico City’s posh Polanco neighborhood, offering men’s and women’s wear, as well as shoes and accessories. The two-story location on Presidente Mazaryk street sits near Louis Vuitton, Tiffany’s and other high-end retailers.
Mexico City has a core of luxury shoppers, despite the fact that most of the country is economically challenged. Gucci said that it was the advantageous location on Mazaryk that spurred the brand to open a store at this time.
Posted by Blacks at 09:38 AM | Comments (0)
March 13, 2007
CFDA Names Top Designer Nominees
The Council of Fashion Designers of America has revealed the short list of designers competing for the titles of women’s wear and men’s wear designers of the year, 2007.
The women’s wear finalists are Marc Jacobs, Oscar de la Renta and Proenza Schouler designers Lazaro Hernandez and Jack McCollough.
In men’s wear, Ralph Lauren, Daniel Silver, Calvin Klein’s Italo Zucchelli, and Duckie Brown's Steven Cox have taken the lead.
The winners will be named June 4 during a ceremony in New York.
Posted by Blacks at 10:16 AM | Comments (0)
March 12, 2007
New Exec To Oversee Jospeh Abboud
Private equity firm J.W. Childs Associates has named William E. Watts executive chairman of JA Apparel Corp.
The move is fueling speculation that the company is preparing for a sale of the J.A. Apparel’s top menswear brand Joseph Abboud, given that Watts will now oversee the operation.
Posted by Blacks at 09:39 AM | Comments (0)
March 09, 2007
Pricing Helps Boost Neiman's Q2
Neiman Marcus’s second quarter adjusted operating earnings jumped 24% to $146 million, thanks to higher margins and strong sales of women’s designer apparel, handbags and jewelry.
The department store chain reported net earnings of $41 million for the quarter ended Jan. 27, compared to earnings of $3 million a year ago. Meanwhile, sales at Neiman’s increased by 8.5% to $1.3 billion in the quarter, compared to $1.2 billion last year.
Posted by Blacks at 08:31 AM | Comments (0)
March 08, 2007
Feb. Fails To Cool Sales At Luxe Stores
February turned out to be a frosty month for middle market retailers, but luxury merchants continued to thrive, reporting strong early spring sales.
Saks reported a 25% increase in same store sales for the month, while Nordsrom reported a 9% jump.
Mainstream players such as Gap and Bebe fared worse, however, showing declines of 4% and 2.2%, respectively.
Posted by Blacks at 08:15 AM | Comments (0)
March 07, 2007
Iconix Scoops Up Rocawear
Popular streetwear brand Rocawear has been snapped up by Iconix Brand Group Inc. for $204 million in cash and $35 million in stock. The brand was co-founded by music mogul Jay-Z, and he will continue to be in charge of product development, marketing and licensing.
Iconix has also scored a long-term licensing agreement for Rocawear’s young men’s apparel. The group expects to reap significant revenue from the deal, given the success of Jay-Z’s clothing empire.
Posted by Blacks at 09:28 AM | Comments (0)
March 06, 2007
Polo Enters Luxury Jewelry Business
Polo Ralph Lauren is moving into the luxury jewelry business through a 50-50 joint venture with Compagnie Financière Richemont, which owns the Cartier and Van Cleef & Arpels brands.
The new Polo Ralph Lauren Watch and Jewelry Co. will be based in Switzerland and produce high-end watches and fine jewelry under the Polo and Ralph Lauren brands.
The first products are slated to debut in fall of 2008.
Posted by Blacks at 11:04 AM | Comments (0)
March 05, 2007
Neiman Pushes Ahead With Cusp Concept
Neiman Marcus is keeping up the momentum behind its Cusp concept stores with the opening of a new store in Georgetown, Washington.
Cusp, which is aimed at fashion conscious 25 to 45 year-old women, was launched last summer with stores in Virginia and Los Angeles. Neiman is now pushing ahead with additional locations, including one in Chicago which is due to open in July.
The concept is centered around looks rather than particular brands.
Posted by Blacks at 11:09 AM | Comments (0)
March 02, 2007
Gap's Q4 Earnings Drop 35%; Comps Down 7%
Gap reported a 35% decline in earnings and a 7% drop in same-store sales for the fourth-quarter of 2006. The disappointing results are just the latest in a series of difficulties facing the San Francisco-based retailer.
Gap said that it is taking bold moves to stem the losses, including closing stores and cutting back on marketing.
The group is currently in the process of looking for a new CEO after it dismissed Paul Pressler in January for failing to turn the company around.
Posted by Blacks at 12:01 PM | Comments (0)
March 01, 2007
Liz Claiborne's Sales Jump, Yet Profit Falls
Liz Claiborne’s fourth-quarter profits sagged due to restructuring costs, yet its sales jumped 10.8% to $1.33 billion. Its sales performance was boosted by the company’s recent acquisition of handbag, shoe and accessories brand Kate Spade.
Claiborne also saw success with its Lucky Brand and Juicy Couture lines and the company said it plans to continue to put marketing dollars into promoting them.
Posted by Blacks at 09:46 AM | Comments (0)
