Sarah Burton, Who Designed Kate’s Royal Wedding Dress, to Step Down from Alexander McQueen 

Sarah Burton arrives for the British Fashion Awards 2011 at a central London venue, on Nov. 28, 2011. (AP)
Sarah Burton arrives for the British Fashion Awards 2011 at a central London venue, on Nov. 28, 2011. (AP)
TT

Sarah Burton, Who Designed Kate’s Royal Wedding Dress, to Step Down from Alexander McQueen 

Sarah Burton arrives for the British Fashion Awards 2011 at a central London venue, on Nov. 28, 2011. (AP)
Sarah Burton arrives for the British Fashion Awards 2011 at a central London venue, on Nov. 28, 2011. (AP)

The fashion designer who created the wedding dress of Kate, the Princess of Wales, is stepping down as creative director at Alexander McQueen after two decades at the brand, luxury group Kering said Monday.

Designer Sarah Burton had led the fashion house since 2010 and previously worked with the brand's founder, Lee Alexander McQueen, for 14 years.

Burton took over as creative director of the fashion house after McQueen took his own life at age 40.

Kering, the luxury group behind brands including Gucci and Saint Laurent as well as Alexander McQueen, said McQueen's spring and summer catwalk show in Paris this month will be the last with Burton at the helm.

Burton was behind the ivory lace wedding gown that the former Kate Middleton wore when she married Prince William in 2011. The elegant gown has since been widely copied and is often named as one of the most popular styles favored by brides all over the world.

Burton was awarded with an Order of the British Empire in 2012 for her services to the fashion industry.

Senior leaders at Kering praised Burton for leaving an “indelible mark” with her vision and creativity.

“She kept and continued Lee’s heritage, attention to detail and unique vision, while adding her own personal, highly creative touch,” said François-Henri Pinault, Chairman and CEO of Kering, in a statement.

The fashion house did not give details about who will replace Burton.



Puma Narrows FY Core Profit Outlook

The logo of German sports goods firm Puma is seen on a shoe after the company's annual news conference in Herzogenaurach February 20, 2014. (Reuters)
The logo of German sports goods firm Puma is seen on a shoe after the company's annual news conference in Herzogenaurach February 20, 2014. (Reuters)
TT

Puma Narrows FY Core Profit Outlook

The logo of German sports goods firm Puma is seen on a shoe after the company's annual news conference in Herzogenaurach February 20, 2014. (Reuters)
The logo of German sports goods firm Puma is seen on a shoe after the company's annual news conference in Herzogenaurach February 20, 2014. (Reuters)

German sportswear maker Puma on Wednesday narrowed its outlook for full-year core profit as it reported its second-quarter results, citing expected currency headwinds, higher freight costs and continued muted consumer sentiment.

Puma, which has recently launched new marketing initiatives in an effort to compete better with bigger rivals like Adidas and Nike, has been grappling with weaker consumer demand and excess stocks at the sportswear retailers through which it makes most of its sales.

It now expects operating profit (EBIT) to come in a range between 620 million and 670 million euros ($676-$731 million) compared to between 620 million to 700 million euros previously.

Puma's shares were down 3.5% in early Frankfurt trade.

It confirmed its full-year outlook for currency adjusted revenue in mid-single-digit percentage, based on a strong order book for the second half of the year.

The company said it expected net income to change in 2024 in line with the operating result. It reported a net income of 304.9 million euros in 2023.

Currency-adjusted sales rose 2.1% to 2.12 billion euros in the quarter, in line with the 2.15 billion expected by analysts, according to LSEG data, driven by 9% growth in the Americas region.

In the Europe/Middle East and Africa region, currency-adjusted sales dropped by 4.3% to 817.9 million euros. A return to growth in Europe was offset by a decline in Eastern Europe, the Middle East, and Africa after a strong quarter in the previous year.

The Asia/Pacific region recorded sales growth of 1.9%, Puma said, boosted by growth in Greater China.

Quarterly EBIT was up by 1.6% to 117 million euros despite negative currency effects.