PARIS (Reuters) – British online grocer Ocado does not see much room for major food retailers to cut their prices further even as they battle to stop discounters stealing market share, its chief executive said on Wednesday.
Britain’s traditional “big four” grocers have been losing shoppers to German discounters Aldi [ALDIEI.UL] and Lidl [LIDUK.UL] in recent years and are also suffering from a shift from out-of-town boxes to local convenience stores and online.
PARIS (Reuters) – German sportswear maker Adidas, facing investor discontent after a series of profit warnings, plans to return as much as 1.5 billion euros ($1.9 billion) to shareholders over the next three years.
The shareholder return program would be financed mainly from the group’s free cash flow, with buybacks to start in the current quarter and be completed by the end of 2017, Adidas said in a statement on Wednesday.
HERZOGENAURACH Germany (Reuters) – Adidas needs world-class designers, brand experts and technical whizzkids to improve its image against U.S. rival Nike, but persuading them to move to its headquarters in rural Germany is difficult.
Adidas has been losing market share to the world’s biggest sportswear brand Nike, which is seen as far cooler in consumer surveys and is based near the hip U.S. city of Portland, Oregon.