Delia’s names for J. Crew executive as operations head
New York — Tween apparel retailer Delia’s has hired Daphne Smith as the company’s executive VP operations, reporting to CEO Tracy Gardner.
Smith was previously with J. Crew for 16 years, working in various roles including senior VP of direct. She has spent the past 18 months at New York & Company as the company’s senior VP e-commerce.
Digital marketing agency brings in e-commerce exec
Roundarch Isobar, the U.S. arm of the global digital marketing agency Isobar, has appointed Steven Moy as the company’s chief commerce officer. He joins from SapientNitro, where he was VP of business and office lead at that company’s Boston office.
Roundarch Isobar will leverage Moy’s experience in retail to further develop the company’s digital commerce practice. He will report directly to Jeff Maling and Geoff Cubitt, co-CEOs of Roundarch Isobar.
Moy has more than 25 years of experience in providing marketing and business solutions to leading companies across many industries, including Staples, CVS Caremark, Liberty Mutual, Puma, New Balance, The Hartford and Luxottica. Throughout his career Moy has worked with e-commerce partners such as L2, IBM, Oracle, hybris and Demandware.
“Steven is a clear industry leader of e-commerce strategies, and his success with leading brands is very impressive,” said Maling. “Roundarch Isobar has always had a strong history in retail solutions, and we are delighted to have Steven join us to continue that momentum.”
“Roundarch Isobar has a proven track record in creating ground breaking, omnichannel digital experiences for a wide range of clients,” added Moy. “Joining this award-winning team as the commerce lead means that I can help elevate Roundarch Isobar’s expertise to create more innovative solutions, connect brands and empower their always-on consumers. I look forward to showcasing how Roundarch Isobar can help clients boost their customer engagement and customer loyalty metrics.”
"At hybris, we focus on creating unique omnichannel commerce solutions. I have worked with Steven on many opportunities over the past few years,” said Carsten Thoma, president and COO of Hybris Software. “He excels in building differentiated pragmatic omnichannel commerce solutions. Steven is a key partner because he understands marketing, digital innovation, consumer insights, and technology. He will be a strong addition to Roundarch Isobar’s practice."
"Steve brings a unique blend of left and right brain skills, helping brands scale their story telling with technology," added Scott Galloway, founder of L2.
Isobar is a global digital marketing agency whose key clients include adidas, Avis, Coca-Cola, Disney, General Motors, Google, HBO, Kellogg and P&G. It’s U.S. arm, Roundarch Isobar, serves clients that include Adidas, Avis, Bloomberg, Disney, General Motors, HBO, Royal Caribbean Cruises Ltd. and the U.S. Air Force.
Michael Kors looking good in Q1
Global luxury lifestyle brand Michael Kors Holdings Limited had an exceptional fiscal 2014 first quarter ended June 29 with a total revenue of $641 million, a 54.5% increase from $414.9 million in the first quarter of fiscal 2013.
Retail net sales increased 51.5% to $325.7 million driven by a 27.3% increase in comparable store sales and 75 net new store openings since the end of the first quarter of fiscal 2013. Wholesale net sales increased 59.3% to $290.6 million and licensing revenue increased 40.7% to $24.6 million.
Gross profit increased 58.3% to $397.3 million, and as a percentage of total revenue increased to 62% compared to 60.5% in the first quarter of fiscal 2013.
“Our exceptional first quarter financial results demonstrate the sustained strong demand for the Michael Kors luxury brand. We attribute the ongoing momentum to our fashion design leadership combined with an aspirational jet-set luxury in-store experience,” said John D. Idol, the company’s chairman and CEO. “As we continue to successfully execute on our strategic initiatives, we remain excited about our future growth potential.”
Income from operations was $197.6 million, or 30.8% as a percentage of total revenue, as compared to $111.9 million, or 27.0% as a percentage of total revenue, for the first quarter of fiscal 2013.
Net income was $125 million, or $0.61 per diluted share. Net income for the first quarter of fiscal 2013 was $68.6 million, or $0.34 per diluted share.
As of June 29, the company operates 328 retail stores, including concessions, compared to 253 retail stores, including concessions, at the end of the same prior-year period. The company has 114 additional retail stores, including concessions, operated through licensing partners. Including licensed locations, there were 442 Michael Kors stores worldwide at the end of the first quarter of fiscal 2014.
“The strong performance in our retail, wholesale and licensing segments as well as across geographies led to record operating profits,” added Idol. “North American comparable store sales increased 25%, as our luxury accessories and ready-to-wear offering and jet-set in-store experience continue to resonate strongly with consumers. Sales in our North America wholesale segment increased 50%, driven by comparable store sales growth as well as the continued successful conversion of shop-in-shops in department stores. In Europe, sales grew 144% in the first quarter, as growing brand awareness led to comparable store sales growth of 56%. Finally, in our licensing segment, revenue increased 41%, driven primarily by the strength in watches and eyewear. Overall, we remain extremely pleased with Michael Kors’ positioning within the growing global luxury lifestyle market and the advances we are making on our strategic growth initiatives.”