BERLIN, July 31 (Reuters) – German sportswear company Adidas
said it would scale back plans to expand in Russia
and overhaul its golf business, as problems in both areas forced
it to cut its 2014 outlook and say targets it had set for 2015
were no longer achievable.
Shares in Adidas, which sponsored this year’s soccer World
Cup winner Germany, fell 13.7 percent by 0841 GMT, hitting their
lowest point in two years.
BERLIN, July 31 (Reuters) – Germany’s Metro AG
said the World Cup helped boost quarterly sales at its
struggling consumer electronics business as the retailer
reported a positive trend at its other units and its board
extended the contract of the chief executive.
Metro said its sales for the fiscal third quarter, which
runs from April to June, fell 2.7 percent to 14.9 billion euros
($19.96 billion), while core earnings before special items were
flat at 276 million euros, both slightly ahead of average
analyst forecasts for 14.8 billion and 265 million,
BERLIN, July 30 (Reuters) – The success of Crocs Inc
in Europe, where the U.S. shoemaker has focused on its
trademark colourful foam clogs rather than branching into other
products, proves the brand has a future despite difficulties at
home, its European head said.
Crocs, founded in Boulder, Colorado in 2002, quickly built a
cult following for its springy-soled clogs, selling more than
300 million pairs of shoes. It now runs 624 stores and has
expanded into accessories and more fashionable shoe styles.