BERLIN — Despite plummeting second-quarter profits, Düsseldorf-based Henkel said it has managed to deal with rising raw material costs and reported a sales increase, sending its shares up 4.5 percent to close at 27.44 euros, or $42.29 at current exchange, on the Frankfurt Stock Exchange Wednesday.
Quarterly results were impacted by restructuring charges that totaled 256 million euros for the quarter, or $400.2 million at average exchange, which sent net earnings down 83.8 percent to 38 million euros, or $59.4 million. Operating profits decreased by 66.7 percent to 113 million euros, or $176.7 million. However, after adjusting for restructuring charges and one-time gains and charges, earnings before interest and taxes rose by 7.8 percent to 372 million euros, or $581.6 million.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)