PARIS — German sporting goods and apparel retailer Puma AG saw its first-quarter net earnings slide nearly 7 percent due to high marketing and retail investments.
For the three months ended March 31, net earnings at the firm, which is majority-owned by PPR, fell 6.7 percent to 90.1 million euros, or $134.9 million. Dollar figures were converted at average exchange rates for the quarter.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"