BERLIN (Reuters) – German sportswear firm Adidas AG (ADSGn.DE: Quote, Profile, Research, Stock Buzz), struggling to keep pace with larger U.S. rival Nike (NKE.N: Quote, Profile, Research, Stock Buzz), reported progress on Wednesday at clearing excess inventories in Russia and in its flagging golf business, helping its shares rise 5 percent.
Adidas, whose long-serving Chief Executive Herbert Hainer is under pressure after a series of profit warnings, confirmed its sales and profit forecasts for 2014 after reporting third-quarter results at the upper end of analyst expectations.
BERLIN (Reuters) – German fashion house Hugo Boss (BOSSn.DE: Quote, Profile, Research, Stock Buzz) trimmed its 2014 sales and profit forecasts on Tuesday due to a slowing European economy after it reported weaker-than-expected third-quarter profits.
Hugo Boss said it now expected sales to grow 6-8 percent in 2014, after accounting for currency changes, while operating profit should rise 5-7 percent. It had previously forecast a high single-digit percentage rise for both measures.
PARIS/BERLIN, Oct 20 (Reuters) – The success of French
retailers in stopping the advance of discounters in the last
five years shows a way out of the crisis embroiling Britain’s
“big four” grocers. Their simple formula: fewer complex
promotions and big price cuts across the board.
In Britain, Tesco, Wal-Mart’s Asda,
Sainsbury and Morrison are all losing shoppers
to discounters Aldi and Lidl, which have
grown market share to over 8 percent from 5 percent in 2012.
BERLIN (Reuters) – Shares in German sportswear firm Adidas AG jumped on Monday after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government planned a $2.2 billion bid to buy Reebok.
Jynwel Capital, a Hong Kong-based private equity investment and advisory firm run by Jho Low, and the Abu Dhabi government-affiliated funds planned to make the offer imminently in a letter to Adidas directors, the Journal reported, citing unnamed sources close to the matter.