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November 30, 2007
Johan Lindeberg To Design For William Rast
Swedish designer Johan Lindeberg is teaming with pop star Justin Timberlake to produce a sportswear collection for Timberlake’s William Rast label.
Lindeberg will design a men’s wear line and his wife Marcella will design a women’s line for Fall 2008. Both lines will debut at Project Las Vegas and Coterie this winter.
The collaboration represents a move away from William Rast’s core denim business toward a wider contemporary audience.
Posted by Blacks at 10:26 AM | Comments (0)
November 29, 2007
Pucci Taps Marni Exec As New U.S. Head
Marni exec Luca Voarino has been tapped as the new U.S. president of Pucci. Voarino currently serves as Marni’s vice president and director of U.S. sales. He will take his post at Pucci Jan. 2.
Part of his responsibilities will be overseeing the opening of new Pucci stores in the U.S. in locations such as Las Vegas and Los Angeles.
The appointment underscores how important the U.S has become to the luxury Italian brand. It currently accounts for almost a quarter of its business.
Posted by Blacks at 09:37 AM | Comments (0)
November 28, 2007
Talbots's Same Store Sales Drop 7.9% In Q3
Talbots Inc. reported a third quarter loss of $9.4 million, compared to profit of 8.1 million a year ago.
The loss was partially pinned on its acquisition of J. Jill and financing costs it incurred within the quarter.
Sales for the quarter slid 2.2% to $556 million. Meanwhile, same store sales fell by 7.9%. The retailer said that it was cautious about the holiday season and its fourth-quarter performance.
Posted by Blacks at 09:41 AM | Comments (0)
November 27, 2007
Cyber Monday Sales Continue To Climb
Companies raked in more than $700 million in online sales on Cyber Monday, according to research done by Akamai.
The National Retail Federation (NRF) said that over 72 million shoppers planned to make purchases online during the biggest e-commerce day of the year. This compares to 61 million who planned to shop on Cyber Monday of last year.
The Monday following Black Friday has become a boon for online retailers. This year, e-commerce sites offered a host of promotions to try to lure in customers with apparent success.
Posted by Blacks at 09:32 AM | Comments (0)
November 26, 2007
Black Friday Sales Surge 8.3% Over Last Year
Despite widespread concerns over the economy, Black Friday sales increased by 8.3% over last year, according to research by ShopperTrak.
However, the amount of money consumers spent over the Thanksgiving weekend declined to $348 from $360 last year.
Consumers were drawn in by promotions at discount chains, according to ShopperTrak.
In apparel, outerwear, cashmere and accessories such as hats, scarves and gloves performed well. Diamond jewelry was also a strong seller.
Posted by Blacks at 09:21 AM | Comments (0)
November 21, 2007
Saks Sees Continued Strength In Luxury
Saks Inc.’s third quarter sales jumped 14.2% to $796 million thanks to continued strength in the luxury sector, the department store chain said. Profits rose to $21.6 million from $6.2 million a year ago.
While Saks acknowledged a spending slowdown among “aspirational” luxury shoppers who buy at opening price points, true luxury shoppers are keeping the market afloat.
Posted by Blacks at 02:18 PM | Comments (0)
November 20, 2007
Nordstrom Shakes Slowdown To Report Strong Q3
Shaking widespread worries over a retail slowdown, Nordstrom reported a 22% spike in third quarter profits to $166 million.
The company received a boost from its designer business and the $210 million sale of the Façonnable chain.
Although the current market has left the department store chain with an excess of women’s wear, the company is still confident it will have a strong fiscal year with same store sales increasing by 3% to 4%.
Posted by Blacks at 09:55 AM | Comments (0)
November 19, 2007
Emerging Markets Boost Richemont's First Half
Swiss luxury group Compagnie Financière Richemont SA reported a 28 percent spike in earnings for the first half of the year to $1.2 billion.
The company, which owns jewelry brands Cartier and Van Cleef & Arpels, said that jewelry sales surged 9 percent during the period while watch sales saw sales grew by 18 percent.
Growth was strongest in emerging markets such as Russia and the Middle East, the company said.
Posted by Blacks at 09:21 AM | Comments (0)
November 16, 2007
Macy's Lowers Q4 Guidance; Cites Slowdown In Women's
Macy’s joined other major retail chains in lowering its expectations for the rest of the year, saying that it expects fourth quarter sales to grow 1% at most, or possibly drop by as much as 2%.
The prediction came after Macy’s released solid third-quarter earnings of $33 million, compared to a loss of $3 million a year ago.
The lowered expectations are due to a slowdown in women’s apparel and a lack of new fashions, the department store chain said.
Posted by Blacks at 09:47 AM | Comments (0)
November 15, 2007
Seven For All Mankind Opens First Retail Shop
Denim brand Seven For All Mankind is opening its first retail store in Miami this week. The 3,100-square-foot shop is located on Robertson Boulevard and aims to attract luxury shoppers with a clean aesthetic.
In addition to denim, the store carries footwear, handbags and outerwear. The store is the first of 100 doors that the company plans to open over the next five years.
Posted by Blacks at 09:43 AM | Comments (0)
November 14, 2007
NRF: Holiday Shoppers Off To Slow Start
Holiday shopping is off to a slow start this year, but the recent arrival of cold weather should kick consumers into gear, according to the National Retail Federation (NRF).
The NRF just released a survey saying that 71.4 percent of consumers have completed less than 10 percent of their holiday shopping so far.
Unseasonably warm weather and economic turbulence have been blamed for the slowdown, but sales are expected to pick up in coming weeks. Once again, gift cards are predicted to be big sellers this year, along with winter goods.
Posted by Blacks at 09:52 AM | Comments (0)
November 13, 2007
Yamamoto Opens Flagship In Antwerp
Japanese designer Yohji Yamamoto has opened his largest store yet in Antwerp, Belgium. The 10,300 square foot store brings together the designer’s complete collection of labels and is located in the same building as the Antwerp Fashion Academy.
Yamamoto is on an expansion spree at the moment and has two other stores set to open early next year. The first will open in New York in January and will be followed by a Paris location slated to open in March.
Posted by Blacks at 09:18 AM | Comments (0)
November 12, 2007
Brooks Bros. Opens New Manhattan Store
Brooks Bros. opened a new 9,300 square foot store in Manhattan, offering a glimpse at its new format. The two-floor location carries men’s furnishings on the relatively small first floor and men’s and women’s sportswear, outerwear, formalwear and accessories on the larger second floor.The look is clean and traditional.
The new store is expected to generate a volume of $9 million a year within two years.
Posted by Blacks at 08:08 AM | Comments (0)
November 09, 2007
Hermès Reports Double-Digit Growth In Q3
Sales at Hermès International climbed 12.3% to $542.3 million during the third-quarter of the year, with much of the momentum coming from Asia.
Ready-to-wear, scarves and fragrances were some of the top selling categories, according to the luxury vendor. Leather bags also fared well with a sales increase of 15%.
The results show that there is still strength in the luxury sector despite a slowdown in better and moderate priced goods.
Posted by Blacks at 09:28 AM | Comments (0)
November 08, 2007
Ralph Lauren Lowers Full-Year Outlook
Polo Ralph Lauren lowered its full-year outlook this week, saying that it expects a slowdown in spending among moderate and better customers. It lowered its fiscal 2008 earnings expectations from $3.64 to $3.74 a share down to $3.60 to $3.50 a share.
The warning came as the fashion company reported solid second-quarter results in which sales increased 12.8% to $1.25 billion. However, profits for the quarter dipped from $137 million a year ago to $115.3 million, in part due to acquisition costs.
Posted by Blacks at 07:19 AM | Comments (0)
November 07, 2007
PPR Gets Earnings Boost From Luxury Brands
French conglomerate PPR reported a 22 percent increase in third-quarter sales, thanks to income from its recent acquisition of Puma and a strong performance by Gucci. Sales for the quarter ended Sept. 30 reached $7.1 billion from $5.4 billion a year ago.
The group said that it saw growth of 10.5% in its luxury brand division, which includes Gucci, Yves Saint Laurent and Bottega Veneta. Gucci was a particular bright spot with a 4.8% increase in sales to $742 million. Bottega Veneta saw a 39.2 % jump but at a lower volume. Veneta’s sales totaled $132.4 million.
PPR also made strong gains in its jewelry division, which climbed 11% in the quarter.
Posted by Blacks at 09:22 AM | Comments (0)
November 06, 2007
London Fog Tries Its Hand At Weather Proof Bags
London Fog is introducing a line of affordable handbags that are treated to resist moisture.The line will be available in department stores next fall in the price range of $100 to $250.
The Iconix-owned outerwear firm is taking advantage of the weather proof technology to cement its reputation as a classic and highly wearable brand.
The company is also considering a foray into other parts of the accessories market, including jewelry, belts, men’s accessories and small leather goods.
Posted by Blacks at 09:19 AM | Comments (0)
November 05, 2007
Tom Ford To Open Five-Floor Milan Store
Tom Ford has selected Milan as the location for his first company-owned shop, with plans to open other doors in London, Zurich, Tokyo, Hong Kong and Kuwait.
The Milan store is a five-story, 9,000 square-foot space on Via Pietro Verri which will carry Ford’s new menswear collection, along with footwear and accessories, fragrances and eyewear.
The Milan store is set to open this spring, followed by the rollout of other locations.
Posted by Blacks at 08:53 AM | Comments (0)
November 02, 2007
Calvin Klein Jeans Names New U.S. Head
Warnaco Group has named Janice Sullivan the new head of Calvin Klein Jeans, replacing Patricia Royak. Sullivan will oversee design, merchandising, sales and marketing of the brand in the U.S.
Sullivan hails from Liz Claiborne Inc. where she worked with DKNY Jeans and Activewear and was most recently the president of Narciso Rodriguez. As part of her new role she will help to build Calvin Klein’s global jeans business.
Posted by Blacks at 09:31 AM | Comments (0)
November 01, 2007
Claiborne Considers Group Sale Of Four Brands
Liz Claiborne Inc. is hoping to sell four of its brands in a package deal, according to reports out Thursday.The fashion group is in talks with two separate buyers to sell Dana Buchman, Ellen Tracy, Sigrid Olsen and Prana, the report says.
It’s still unclear how much Claiborne would charge for the group. Combined the brands have an estimated volume of around $320 million a year.
News of the possible sale comes just two days after the company reported a 65% decline in its third quarter earnings, in part due to weak demand for its partnered brands.
Posted by Blacks at 10:52 AM | Comments (0)
