PARIS — With its Capital Markets Day underway in London, Puma SE on Tuesday released an ad-hoc statement regarding its midterm financial outlook.The Herzogenaurach, Germany-based company said it expects currency-adjusted consolidated net sales to grow by around 10 percent on average per year until 2022. Earnings before interest and taxes margin should reach a level of around 10 percent of consolidated net sales by 2022 at the latest.The sportswear brand said that at the annual general meeting on April 12 it will propose a distribution of a dividend of between 25 percent and 35 percent of consolidated net earnings, starting with a dividend payout in 2019 for the financial year 2018.At 11 a.m. CET on Tuesday, an hour after the announcement was made, Puma stock was trading up 2.9 percent to 404 euros.Bjørn Gulden, Puma's chief executive officer, at the presentation of the brand’s full-year 2017 results in February said the Capital Markets Day — its first in years, marking a new chapter since parent company Kering’s decision to spin off the majority of its holding in Puma — would involve going “deeper into explaining to the analysts and investors what we do, and will give exposure to a wider part of our management team.”Addressing Kering’s move, Gulden said the transaction will not spark any changes in Puma's strategy.“My feeling talking to [Artémis] and François-Henri Pinault….pretty intensively over the last three weeks, as you can imagine, is that they see themselves as a long-term shareholder,” he said. “I don’t really see that changing other than, of course, there will be less pressure to find synergies with Kering operationally. But as a partner, I’m sure they will help where they can help. [Both are] very interested in sports and of course fashion.”Maintaining its turnaround momentum, Puma for 2018 expects revenues to rise by around 10 percent in currency-adjusted terms, with the brand’s EBIT expected to total between 305 million euros and 325 million euros, up from 245 million in 2017.The brand this year will be celebrating both its 70th anniversary and the 50th birthday of its iconic suede sneaker.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion