Affected by the absence of a onetime tax benefit, Nike Inc. saw first-quarter net earnings slide 10 percent, but still handily beat Wall Street expectations.
For the three months ended Aug. 31, the active giant posted net earnings of $510.5 million, or $1.03 a diluted share, compared with $569.7 million, or $1.12, in the prior year. Sales climbed 17 percent to $5.4 billion from $4.7 billion.
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)