NEW YORK/BERLIN (Reuters) – Visa Inc has told FIFA it could end its sponsorship of soccer’s world governing body if it does not act fast to restore the reputation of the game after senior officials were arrested on bribery and corruption charges.
The statement from Visa, which became a FIFA partner in 2007 and recently extended the relationship until 2022, was the strongest so far as sponsors lined up to express concern about the scandal engulfing the world’s most popular sport.
FUERTH, Germany (Reuters) – Battling new competition from fashion chains as well as traditional sportswear rivals, Adidas is eyeing the “fast fashion” model as a way of pepping up its three-striped ranges of tops, leggings and sneakers.
That means producing more items closer to its main markets, just as fashion chain Zara quickly turns out new designs from factories in Spain, but the German group sees the benefits outweighing any cost increases.
BERLIN, May 12 (Reuters) – Europe’s largest dedicated online
fashion retailer Zalando lifted its forecast for sales
and profit growth for 2015 on Tuesday after an early start to
the spring and less discounting drove a strong first quarter.
The company, which had already rushed out
better-than-expected preliminary results last month, said it now
expects full-year sales to rise at the top end or slightly above
the 20-25 percent corridor it had previously predicted.
FUERTH, Germany (Reuters) – Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz) shareholders took aim at the management of the German sportswear company on Thursday, not convinced a new strategy would be enough to challenge the dominance of rival Nike (NKE.N: Quote, Profile, Research, Stock Buzz).
“Adidas is panting behind the competition. Adidas lost the race, at least in 2014,” Gerhard Jaeger, spokesman for the SdK investor association, told the firm’s annual shareholder meeting in the southern town of Fuerth.
BERLIN, May 7 (Reuters) – German retailer Metro AG
plans to significantly increase investment in its business in
the next five years and seek out acquisitions as it aims to
accelerate sales growth and profitability after emerging from
years of restructuring.
Europe’s fourth-biggest retailer said on Thursday it would
hike annual capital expenditure to about 2 billion euros ($2.3
billion) by 2020 from an expected 1.4 billion in 2014/15.
BERLIN (Reuters) – German sportswear company Puma cut its profit outlook for 2015 on Wednesday after the strong U.S. dollar hit its first-quarter earnings, overshadowing strong footwear sales following the launch of a new running shoe by Usain Bolt.
Puma, which brought forward its quarterly results from Friday ahead of its annual general meeting later on Wednesday, said first-quarter net profit fell 30 percent to 24.8 million euros ($27.9 million) on sales up 13 percent to 821.4 million.
BERLIN (Reuters) – German sportswear company Adidas (ADSGn.DE: Quote, Profile, Research) turned around its sales in North America in the first quarter, helped by a marketing campaign designed to win business from dominant rival Nike(NKE.N: Quote, Profile, Research).
Adidas said group sales rose 17 percent to 4.08 billion euros (£3 billion), or 9 percent excluding the impact of currencies, beating an average analyst forecast for 3.91 billion and lifting its shares more than 1 percent.
BERLIN, May 5 (Reuters) – German retailer Metro AG
reported faster group sales growth for its fiscal second quarter
driven by its strongest performance in consumer electronics in
Sales rose 0.3 percent to 14.37 billion euros ($16 billion)
versus a consensus forecast of 14.33 billion.
BERLIN, May 5 (Reuters) – German sportswear company Adidas
reported better than expected first quarter sales
growth on Tuesday, helped by a strong performance from its
running and fashion businesses as well as a recovery at its
struggling North America arm.
Adidas said sales rose 17 percent to 4.083 billion euros
($4.54 billion), or by 9 percent excluding the impact of
currencies, which was ahead of average analyst forecasts for
BERLIN (Reuters) – A deal by Puma to outfit the Red Bull Formula One team underlines a bid by the German firm to rebuild its reputation for sports performance gear by ramping up marketing spending in focus areas, its chief executive said in an interview.
Puma, which previously sponsored Red Bull in 2007-2010 and already has deals with Mercedes and Ferrari, announced on Tuesday a long-term partnership from 2016 to provide the Formula One team with racewear, footwear and teamwear as well as licensed replica, fanwear and lifestyle products.