Second-quarter earnings at the new PPR unit Puma AG dropped 10 percent on nearly flat sales, due to increases in SG&A and depreciation and amortization.
PPR, which also owns Gucci Group, finalized its acquisition of 62.1 percent of Puma last month.
For the three months ended June 30, Puma's net income fell to 45.2 million euros, or $60.9 million at current exchange, from 50.1 million euros, or $62.9 million, in the second quarter last year. Earnings per share fell to 2.82 euros, or $3.80, from 3.12 euros, or $3.92.
Sales for the quarter slid less than a percent to 542.8 million euros, or $731.8 million, from 546.6 million euros, or $686.8 million, last year, a period that included sales associated with the 2006 FIFA World Cup.
Losses in the Americas region, particularly the U.S. market, offset gains in other parts of the world. Quarterly sales in the Americas fell 15 percent to 145.3 million euros, or $195.9 million, from 171.7 million euros, or $215.7 million, in the second quarter of 2006.
While apparel revenues grew, footwear and accessories sales for the active lifestyle company declined. Apparel sales climbed 2 percent to 185.6 million euros, or $250.2 million, from 181.6 million euros, or $228.2 million, in the same period last year.
Meanwhile, the larger category of footwear fell 2 percent to 320.9 million euros, or $432.6 million, from 327.9 million euros, or $412 million. The smaller accessories business fell 2 percent, as well, to 36.3 million euros, or $48.9 million, from 37.1 million euros, or $46.6 million.
For the first half of the year, earnings slipped 1 percent to 141.7 million euros, or $188.4 million, from 143.2 million euros, or $176.1 million, in the first half of 2006. Earnings per share dipped to 8.84 euros, or $11.75, from 8.95 euros, or $11.01.
Sales for the front half of 2007 increased almost a percent to 1.2 billion euros, or $1.59 billion, from 1.19 billion euros, or $1.46 billion, in 2006.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)