Puma gains, Reiss launches sub-brand, Kenneth Cole steady, Icelandic market manipulation, Valley of the dolls

Puma prepares for ‘volatile’ retail sector (FT) “Puma, the world’s third-largest sports goods maker, said it expects a challenging second half of the year after posting better-than-expected results for the second quarter on Friday.” David Reiss and Andy Rogers (Drapers) “Reiss launches its first sub-brand this week, aimed at a younger, edgier customer. Founder David Reiss and brand director Andy Rogers

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Armani profits drop, PPR focuses, Puma restructures, Uniqlo thrives, Fashion embraces activism

Armani's 5th Ave. store, courtesy of Armani

Armani profits drop 14% in ‘difficult’ year (FT) “Giorgio Armani, the trend-setting Italian fashion group, reported a 14.6 per cent fall in profits in 2008 in spite of a slight rise in revenues and the opening of 50 new stores, as its owner reflected on a ‘difficult’ year for the industry.” PPR says to focus on cash and cost-cutting (Reuters) “French retail and luxury group PPR on Thursday

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