Under Armour Inc.'s earnings climbed 25 percent in the third quarter, driven by strong sales growth across all categories, including a 49 percent increase in women's.For the three months ended Sept. 30, the athletic apparel and footwear company reported net income of $20 million, or 40 cents per diluted share, compared with $16 million, or 32 cents, in the same period last year. Revenues for the quarter grew 46 percent to $186.9 million from $127.7 million.Apparel showed 45 percent growth, and the smaller accessories business more than doubled. Women's, men's and children's sales all increased more than 40 percent."Our third-quarter results reflect strength in both our core apparel business and continued growth in new product categories," Kevin Plank, chairman and chief executive officer, said in a statement.For the first nine months of the year, earnings grew 31 percent to $35.7 million, or 71 cents per diluted share, from $27.1 million, or 55 cents, in the same period of 2006. Revenues climbed 46 percent to $431.7 million from $295.4 million.The Baltimore-based firm raised its 2007 earnings projections to a range of $81.5 million to $83 million from previous estimates of $79 million to $81 million. Under Armour also revised its revenue outlook to a range of $590 million to $600 million, compared with previous estimates of $580 million to $590 million.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion