FAVORABLE FOR PATRICIA A NEW BOOK HEIDI’S WINDS LOOKS AT THE GUCCI STRUGGLED IN FOUR-DECADE- THE FIRST QUARTER, BUT LONG CAREER OF NEW DEAL KERING’S SALES ROSE MILLINER PATRICIA HEIDI KLUM UNVEILS 11.4 PERCENT AS A RESULT OF UNDERWOOD. AN INTIMATES LINE CURRENCY FLUCTUATIONS. PAGE 12 WITH MACY’S. PAGE 7 PAGE 2 ‘GROWING PAINS’ XXXXXX Under Armour Sees Xxx Xxx Xxx Profi ts, Shares Fall Xxx Xxx Xxx Xxx By ARNOLD J. KARR By OVIDIS A NATQUE NET UNDER ARMOUR INC. is suffering some growing MENDA VOLUPTA turepudit, quias nestis accus as pains — and finding it harder to meet skyrocket- resti beriasi doluptatem. Nem aut aperunto est ut ing expectations. perrori taquidem aut qui blatem ad eium fugiantur As founder and chief executive offi cer Kevin Plank modi cus vel iusam fugiamus, omnim volendus, sinus described the fi rm as “growing up” Tuesday, invest- eaquas dolorep tatatent qui que sandelendis quis aut WEDNESDAY, APRIL 22, 2015 ■ $3.00 ■ WOMEN’S WEAR DAILY ing in systems, infrastructure and acquisitions as well voluptur? as product and marketing, the high-fl ying activewear Nam essint aut ea duntinv elendiciam num exp- WWD labo ribusae niam quidebi ssimet autat. brand reported a 13.4 percent dive in fi rst-quarter profi ts that sent Under Armour shares down 4.8 per- Antiur, nobit faceptat. cent to $83.52 in New York Stock Exchange trading. It Idis molupti nonsequis doloren impelecae nusci was the largest decline for the stock on a percentage im solente molorep eribus des corpora tibus, odis et basis since shares fell 7.4 percent on April 24, 2014, dunt dolorpo reiciatem dolo int adigend uciendus when the company reported results for the fi rst quar- aperita consequam utatur, quiani conectiam ut as ter of that year. intionsequas et quaeriat qui aut unt omniendi blabo. Buffeted by higher expenses from the acquisitions Tem voluptat quam cum et fugia il mo etus aut eicae of two digital wellness platforms, expansion overseas, lam, offi ctoribus adistionsed que non re cone con higher air-freight costs due to West Coast port disrup- cumquasped et quis del mo dellupt ataerum faccae tions and a higher tax rate, Under Armour saw earn- repudae ne voluptat la cusapit periscilit quis eiur, aut ings in the three months ended March 31 fall to $11.7 et atur asitisimi, autem quo quia nis quid qui ut auta million, or 5 cents a diluted share, from $13.5 million, dolesequi corum qui debitatur, quiam nis mos volu- or 6 cents, a year ago. pis sequam faccus si im el il isimoditis volorporem Under Armour’s shares also were pressured by its full- imporro conse con ratquiasse vellum re et et optate Breaking year outlook failing to meet analysts’ consensus estimates. con consequuntio doluptiam eata digenis aut offi c to The fi rm modestly raised its revenue guidance to $3.78 inctur sam re re dolupta tessin con pe corio dolorum billion and operating profi t guidance for the remainder of aditias et el et mi, ius dolori bla eosam utem even- 2015 to between $400 million and $408 million. dae offi cae nobistr umquos milliqui apiendam rere- Even with the fi rst-quarter pressures, the company hen dendandi doluptur maiorrovid eum es quid eturi showed no signs of lessening demand, posting reve- tem re, incipsa nisquiam quatenimet quiditatem im- Plaid porrovid ut quia di simporest et la dolorro blant eos nues of $804.9 million, 25.5 percent above the $641.6 Designers favored that cozy, familiar million registered in last year’s quarter, above Wall dolupti atistia cus, aborpore landio to blautet as aut feeling for fall — and what evokes Street’s $802.5 million estimate. offi cipsam earciaes excearum, qui te offi cilicit est aut Footwear, led by the Curry One sneaker endorsed id mil min ea pore mil iumque pro vit offi cab il en- it better than a classic wool plaid? by NBA All-Star Stephen Curry of the Golden State dantotatum verovid mod et rat.Soloremquiam et pro Versatile and vibrant, the look mixes Warriors, grew 41.1 percent to $161 million, while que pelique plibus et, similiqui ius essi re arum et well with heritage tweeds to create apparel was up 20.9 percent to $555.5 million. The od mo earum aliquat latur, offi c tem faciend itatend Connected Fitness platform, supplemented in February esequatur molene landit endam solor sene vitaqua ti- a perfect balance between city and by the acquisitions of Endomondo and MyFitnessPal, asitaquunt faccuptur sum qui od untorum facitiis do- country. Here, AWAKE’s wool and alpaca lessita dolupta temporepe platect enistiam con conse- SEE PAGE 8 ditae. Itatum et aut ant enim acillor am eos esectas et skirt with Polo Ralph Lauren’s wool explam repudae. Nequam, omniminum faceruptatas herringbone blazer and cotton sweater. For more plaids, see pages 4 and 5. Max Mara’s Art Fete: Backs New Whitney Xxxxxx Xxxxxx By OVIDIS A NATQUE NET By LUISA ZARGANI MENDA VOLUPTA turepudit, quias nestis accus as REGGIO EMILIA, Italy — The new Whitney Museum resti beriasi doluptatem. Nem aut aperunto est ut of American Art is one of the biggest New York cul- perrori taquidem aut qui blatem ad eium fugiantur tural projects in recent years — but it is also one that modi cus vel iusam fugiamus, omnim volendus, sinus has a strong connection to Italy. eaquas dolorep tatatent qui que sandelendis quis aut The 220,000-square-foot building, which is located voluptur? at the corner of Gansevoort and Washington Streets in Nam essint aut ea duntinv elendiciam num exp- the Meatpacking District, is designed by the Genoa- labo ribusae niam quidebi ssimet autat. born, Pritzker Prize-winning architect Renzo Piano Antiur, nobit faceptat. and will almost double the museum’s exhibition space. Idis molupti nonsequis doloren impelecae nusci In addition, Italy’s giant Max Mara fashion group has im solente molorep eribus des corpora tibus, odis et partnered with the institution for the Whitney’s offi cial dunt dolorpo reiciatem dolo int adigend uciendus opening event to be held May 24. Max Mara is orga- aperita consequam utatur, quiani conectiam ut as nizing a private visit with around 80 collectors, cura- intionsequas et quaeriat qui aut unt omniendi blabo. tors and artists that afternoon, led by Piano, Adam D. Tem voluptat quam cum et fugia il mo etus aut eicae Weinberg, the Whitney’s Alice Pratt Brown director, lam, offi ctoribus adistionsed que non re cone con and Donna De Salvo, chief curator and deputy direc- cumquasped et quis del mo dellupt ataerum faccae tor for programs. Julian Schnabel, Lori Simmons, repudae ne voluptat la cusapit periscilit quis eiur, aut Francesco Clemente, Mario Sorrenti, and Mark and et atur asitisimi, autem quo quia nis quid qui ut auta Renee Rockefeller are some of those expected to at- dolesequi corum qui debitatur, quiam nis mos volu- tend. This will be followed by a dinner in the muse- pis sequam faccus si im el il isimoditis volorporem um’s boardroom and later by a party with 4,000 guests. imporro conse con ratquiasse vellum re et et optate “It’s a natural rapport and our family has a long- con consequuntio doluptiam eata digenis aut offi c standing affection for the Whitney Museum, its his- to inctur sam re re dolupta tessin con pe corio do- tory and what it has always represented for contem- lorum aditias et el et mi, ius dolori bla eosam utem porary art,” Luigi Maramotti, chairman of Max Mara, evendae offi cae nobistr umquos milliqui apiendam said during an exclusive interview at the group’s rerehen dendandi doluptur maiorrovid eum es quid headquarters here, a 90-minute drive east of Milan, eturi tem re, incipsa nisquiam quatenimet quiditatem designed by architect John McAslan, and overlooking imporrovid ut quia di simporest et la dolorro blan the park created by landscape architect Peter Walker. PHOTO BY GEORGE CHINSEE; STYLED BY BOBBI QUEEN MODEL: ACHOK/RED MANAGEMENT; HAIR BY KATSUMI MATSUO AT ARTMIX; MAKEUP BY JAVIER ROMERO; PHOTO ASSISTANT: EMILY TAYLOR; FASHION ASSISTANT: EMILY MERCER; SHOES BY FREDA SALVADOR SHOES BY MERCER; EMILY ASSISTANT: FASHION TAYLOR; EMILY ROMERO; PHOTO ASSISTANT: JAVIER MAKEUP BY ARTMIX; AT MATSUO KATSUMI HAIR BY MODEL: ACHOK/RED MANAGEMENT; SEE PAGE 6 SEE PAGE XX 2 WWD WEDNESDAY, APRIL 22, 2015 WWD.COM Kering Revenue Nears $3B in Qtr. THE BRIEFING BOX our brands. We are facing this issue by working on By JOELLE DIDERICH the distribution, by safeguarding the exclusivity of IN TODAY’S WWD our distribution, by accelerating the launch of Web PARIS — Kering believes there is no single cure for sites in China, in Chinese, with the possibility to the currency swings roiling the luxury market. pay in Chinese currency,” he said. Even as its rival Chanel harmonizes prices world- Regarding Gucci, Jean-François Palus, group An exterior view of wide to neutralize growing differentials between managing director at Kering, said it was unrealistic Jon & Vinny’s. For regions, the parent company of Gucci, Puma and to expect the new hires to have an impact on fi rst- more, see page 10 Bottega Veneta is taking a more nuanced approach. quarter sales. and WWD.com. “We are addressing this in a balanced way,” “This industry has a slow metabolism,” he cau- Jean-Marc Duplaix, Kering’s chief fi nancial offi cer, tioned. “We are very pleased with what the team told analysts in a conference call after the group is doing, with the new organization, the new ways reported sales rose 11.4 percent in the fi rst quar- of working and the new ideas that they have, and ter to 2.65 billion euros, or $2.99 billion, boosted by so we are confi dent that this will bear fruit in the “massive” currency tailwinds.