Oxford Industries announced on Wednesday that sales for the full-year ending February 1 decreased 3% to $1.52 billion, on the back of declines across the U.S. firm’s direct-t0-consumer channel (DTC).
Tommy Bahama
The Atlanta-based company said full-price DTC sales fell 3% to $1 billion, while outlet sales grew 3% to $75 million. Food and beverage sales grew 1% for the year, offset by a 10% decline in wholesale revenues to $281 million.
For the fourth quarter, the owner of Tommy Bahama, Lilly Pulitzer, and Johnny Was said sales fell 3% to $237.6 million for the three months. However, the company did report an operating income of $20 million, compared to an operating loss of $81 million in the prior year.
“We are pleased to report fourth quarter net sales and adjusted earnings per share that were near the top end of our guidance ranges. Our results were driven by a successful holiday season as our consumer showed up to buy their loved ones and friends the gifts that they really wanted from the brands that they love. Following a strong finish to calendar year 2024, trends moderated in January as there was less of a reason to shop, a pattern we’ve witnessed for the past several quarters, as well as a deterioration in consumer sentiment that also weighed on demand,” said Tom Chubb, chairman and CEO, Oxford Industries.
“We believe the challenging trends experienced in January that accelerated into February are likely an indicator of what we can expect in the first half of fiscal 2025. We also believe the strong occasion driven performance experienced during the holiday season in the fourth quarter of fiscal 2024 will continue for key events in fiscal 2025 including Easter, Mother’s Day, Father’s Day and the summer holidays. In the times between these major selling periods, we expect the consumer to be more hesitant to shop given the current uncertainty in the marketplace. In response to this backdrop, each of our brands has developed plans with a sharp focus on building on the core of what makes it great. We are confident that our business model will guide us through this period of uncertainty and drive profitable growth and long-term shareholder value well into the future. We could not do this without our exceptional team of people, to whom we extend our sincere gratitude.”
Looking ahead, the company expects net sales in a range of $1.49 billion to $1.53 billion, compared to net sales of $1.52 billion in fiscal 2024.
Burberry is continuing its cultural links and on Monday announced that it’s supporting the transformation of the Fashion Gallery at the Victoria and Albert Museum in South Kensington as part of a multi-year partnership.
V&A
Its deal with the London-based arts and culture institution unites “two icons of British culture with a shared legacy of heritage, innovation and creativity,” we’re told and will see the gallery redeveloped and exclusively renamed The Burberry Gallery on reopening in spring 2027.
The gallery closes in May ahead of its renovation into “a spectacular and participatory space that will inspire visitors and enable them to experience the V&A’s fashion collection in innovative and exciting ways”.
The 2027 opening of The Burberry Gallery will also be complemented by a “wide-ranging activity programme on-site, offline and online, offering a world-class learning experience and greater access to fashion education for all”.
Burberry CEO Joshua Schulman said the partnership “marks a milestone moment for British arts and culture”.
The Fashion Gallery at the V&A is a major attraction and has hosted a number of major exhibitions, most recently ‘Naomi: In Fashion’.
But despite being one of the museum’s most visited and largest dedicated permanent gallery spaces, it was last structurally redeveloped as far back as 1962.
The partners said that on reopening, The Burberry Gallery will “continue to display a world-class fashion collection spanning five centuries and designs from a multitude of both brands and individuals”.
As mentioned, it’s a continuation of the luxury label’s long-standing legacy of supporting arts and culture at home and abroad, including it previously partnering with the British Pavilion for La Biennale di Venezia and the Royal Academy for the Thomas Burberry Prize. The cultural links also feed through to its runway shows with the Winter 2025 collection having been shown at Tate Britain and the Summer 2025 one at the National Theatre, both in London.
The museum and the brand were founded in the same decade in the 19th century and V&A director Tristram Hunt said they’ve “been pillars of British fashion. Global in our reach, whilst champions of UK art and design, we share a commitment to ensuring our proud heritage inspires the next generation of creatives. This partnership allows us to share the V&A’s incredible collections in new and accessible ways and, with Burberry, support education and craftsmanship across the country”.
So what happens for anyone wanting to view the V&A fashion pieces between now and 2027? The gallery shuts on 4 May and before it reopens, access to the V&A’s fashion collection continues to be available at V&A East Storehouse, opening 31 May, and online at vam.ac.uk.
Versace has partnered with the Beijing International Film Festival, becoming the official designated fashion luxury brand of the 15th edition of this cinematic celebration.
Versace official sponsor of Beijing Film Festival – DR
The move marks the first company news since the Milanese fashion house announced on March 13 that Dario Vitale would be its new creative director and that its longtime designer Donatella Versace would become the brand ambassador.
“The fashion house will leverage its rich heritage of image-making and values of empowerment and self-expression to support the next generation of Chinese and international cinema talent,” Versace said in a release. The brand did not say what exact roles its new ambassador or designer would play, if any, in the festival.
This partnership with the Beijing International Film Festival (BJIFF) comes from a shared passion for the visual arts—its creation, experimentation, and fostering. Since its inception, the House of Versace’s visual vernacular has been a 360-degree creative proposal that embraces a unique blend of photography, film, the performing arts, and cinema, the brand continued.
“Versace’s bond with the world of cinema is inseparable. The world’s leading screen talents choose to express their authentic selves off screen wearing Versace, with the presence of Versace design on the red carpet of international film awards and festivals undoubted,” Versace added.
Under Donatella’s direction, the house had a remarkable red carpet track record—notably attiring Jennifer Lopez in the famed jungle-print low-cut dress for the Grammys in 2000; Beyoncé in slinky black velvet at the Academy Awards in 2005; Blake Lively as a bronzed goddess for the Met Gala in 2022; and Jennifer Aniston, Kate Hudson, and Penélope Cruz as screen goddesses at various Oscar ceremonies.
2025 marks the 130th anniversary of the birth of world cinema, the 120th anniversary of Chinese cinema, and the 15th anniversary of the founding of the Beijing International Film Festival (BJIFF).
This year’s BJIFF will host hundreds of events spanning diverse formats and themes—driving creativity, nurturing outstanding works, empowering the industry’s transformation, and stimulating the high-quality development of the film market.
Versace will take an active role in the Beijing Market’s Pitch Training Camp, allowing young talent to participate in professional training led by a panel of mentors. This year, the camp has expanded its recruitment across the Chinese-speaking world, inviting emerging talents in production, directing, art direction, and cinematography. Participants will co-create original short films on contemporary themes, amplifying fresh voices and uncovering rising creators.
Through its participation in the Pitch Training Camp, Versace continues its aid for creativity in the visual arts, with particular encouragement of new-generation talent.
Versace’s support of BJIFF will climax with the Beijing Film Night dinner on April 20, combining Versace’s passion for nurturing creative talent with visual spectacle and glamour.
Big hugs all round following a Mother’s Day (30 March) that turned out to be a bigger boost than expected for UK retail.
Not only did related footfall leap, but shoppers were tipped to have spent £2.4 billion on Mother’s Day this year, up 5% year-on-year, according to global retail solutions provider Sensormatic Solutions.
Data from its ShopperTrak Analytics insights platform showed high streets were happiest on Sunday, with a 13.4% footfall hike compared to last year, as total retail footfall on the day lifted 7.3% compared to 2024.
Shopper count on the Saturday (29 March) was also up an impressive 13.1% year-on-year with shopping centres the top performing destination that day with footfall rising 15.3% year-on-year.
Footfall in the week leading up to Mother’s Day (23-30 March) delivered an 8.2% boost to store visits compared to the week prior.
Andy Sumpter, Sensormatic Solutions’ EMEA Retail Consultant, said: “As a popular gifting day, retailers will have welcomed the ambient boost to footfall from Mother’s Day after shopper traffic performance experienced a bumpy few months of late.”
He added: “Gifting occasions, like [this] not only serve as seasonal revenue drivers, but with consumers shopping for others, they also attract new cohorts of shoppers, who perhaps are infrequent or new customers, in to store. And that presents a valuable engagement opportunity to open up your brand to new audiences, making the delivery of compelling in-store buying journeys and enhanced CX all the more important, helping to turn first-time shoppers into repeat buyers.”
Entertainment8 years ago