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.
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