NEW YORK — Adidas-Salomon ran up its second-quarter sales and profits while backlogs going into the back half of the year hit a nearly four-year high.Earnings for the quarter strengthened 4.2 percent to $24.3 million, or 55 cents a share, compared with $23.4 million, or 53 cents, a year ago. Sales for the period ended June 30 were up 10.2 percent to $1.47 billion from $1.33 billion a year ago. Dollar figures have been converted from euros at current exchange.In North America, backlogs were up 15 percent in local currencies, though down 2 percent in euros. Strength came primarily from footwear, which saw the measure rise 27 percent, which translates to an 8 percent uptick in euros. Apparel backlogs were up 1 percent in constant currencies, the business’ first increase in more than three years. In euros apparel backlogs fell 14 percent. In Asia and Europe, backlogs in constant currencies were up 21 and 7 percent, respectively. "What is most important for us is the strong sales outlook reflected in the Adidas [brand total] order backlogs, which are up 11 percent on an underlying basis," said Herbert Hainer, chairman and chief executive in a statement. "This is the biggest increase since 1998."For the half, profits dipped 4.2 percent to $62.2 million, or $1.46 a share, from $69.1 million, or $1.52, a year ago. Revenues increased 7.4 percent to $3.06 billion from $2.85 billion a year ago.Apparel sales during the half shot up 10 percent to $1.07 billion from $970 million a year ago. The growth was driven by soccer merchandise, which saw an 85 percent increase with help from the World Cup. Footwear sales climbed 7.1 percent during the half to $1.46 billion from $1.36 billion a year ago."With the majority of our expenses now behind us, we expect business to accelerate in the second half of the year, particularly in earnings growth," said Hainer.The ceo rubber-stamped previous estimates for the full year of at least 5 percent sales growth and a 5 to 10 percent rise in profits.In other news, Adidas named Ross McMullin, who joined the firm as president of Adidas America in July 2001, to its board. McMullin’s appointment expanded the board to seven members. A statement said the move underlined the firm’s "commitment to North America, the biggest sporting goods market in the world, where the company is anticipating double-digit sales in 2002."
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim