BERLIN — Henkel AG & Co. registered an 8.5 percent drop in third-quarter net profits to 314 million euros, or $444.5 million.
The Düsseldorf-based consumer goods and adhesives company said adjusted net profits, which take into account one-time charges, gains and restructuring costs, were up 5.1 percent to 373 million euros, or $528 million, in the quarter.
Dollar figures are converted from euros at average exchange rates for the period.
Operating profits for Henkel in the three months ended Sept. 30 fell 10 percent to 451 million euros, or $638.4 million, while adjusted EBIT rose 4.7 percent.
Henkel's sales grew 1.7 percent to 4.03 billion euros, or $5.7 billion. Adjusted for foreign exchange, revenues gained 5.7 percent.
The firm's cosmetics and toiletries division, which includes the brands Dial, Fa and Schwarzkopf, reported 1.9 percent sales growth to 860 million euros, or $1.22 billion. Its operating profits dipped 1.2 percent to 111 million euros, or $157.1 million.
Henkel slightly raised its guidance for 2011 organic sales growth to between 5 percent and 6 percent from 5 percent. The company confirmed its forecast for an adjusted EBIT of around 13 percent and for adjusted earnings per preferred share of approximately 10 percent.
Looking at the full fiscal year, Henkel chairman Kasper Rorsted stated, "The economic environment remains challenging. In addition to intense competition and high raw material prices, the debt crisis in the Eurozone is bringing additional uncertainty into the markets. Against this background, we will continue to adapt our structures in order to respond more quickly and flexibly to changes in our markets, and maintain strict cost control.”
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast