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May 15, 2013

TUI AG CEO shakes up group in drive for dividend

FRANKFURT, May 15 (Reuters) – German tourism group TUI AG’s
new chief is cutting costs, restructuring loss-making
resorts and cruise operations, and will boost cooperation with
unit TUI Travel in a shake-up aimed at resuming dividend
payments in 2014/15.

The plan, while called oneTUI and intended to cut overlaps
between the two, does not mean another attempt at a merger with
TUI Travel, Chief Executive Friedrich Joussen said on Wednesday.

May 14, 2013

Puma warns on profit as Europe, China stutter

FRANKFURT, May 14 (Reuters) – Trainers and sportswear maker
Puma SE warned of shortfalls in sales and profit on
Tuesday as its performance faltered in Europe and China,
highlighting the challenge in store for its new chief executive.

The group is undergoing its biggest reorganisation in 20
years after suffering a 70 percent drop in net profit last year
and last month hired a new chief executive from Danish jeweller
Pandora to inspire its recovery.

May 3, 2013

Adidas profit margin hits record as pricey sneakers fly

FRANKFURT, May 3 (Reuters) – Germany’s Adidas
posted its highest-ever gross profit margin as the sale of
higher-priced products through its own stores and a new running
shoe helped offset weak consumer spending in Europe and problems
at Reebok.

Despite a 2 percent fall in sales in the first quarter, with
fewer big sporting events than the year before, operating profit
at the world’s second-largest sports apparel maker behind Nike
rose by a greater-than-expected 8 percent to 442 million
euros ($578 million).

Apr 29, 2013

Amazon faces strike threat in Germany over pay, conditions

FRANKFURT, April 29 (Reuters) – Global internet retailer
Amazon.com could be facing its first strike in Germany
by warehouse workers seeking better pay and benefits.

Amazon employs around 9,000 people across Germany and has
come under fire from trade union Verdi for refusing to implement
a collective agreement on employment conditions, in keeping with
the country’s other mail order and retail firms.

Apr 22, 2013

Lufthansa grounded by strike at German airports

FRANKFURT (Reuters) – Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) was virtually grounded on Monday, Germany’s largest airline cancelling nearly all of its flights because of a second strike in a month over workers’ pay.

Lufthansa scrapped 1,700 flights, leaving only about 30 running, after all-day strike action was announced at Germany’s biggest airports, including Frankfurt, Munich and Hamburg.

Apr 19, 2013

Lufthansa considers legal action over planned strike

FRANKFURT (Reuters) – German airline Lufthansa said it is considering legal action after trade union Verdi called on thousands of workers to go on strike on Monday to increase pressure on management in pay negotiations.

Lufthansa said the planned action, which would see workers walk off their jobs for a full day at several airports – including Europe’s third largest at Frankfurt – goes far beyond a regular “warning strike” and would cost the airline tens of millions of euros.

Apr 18, 2013

Puma hires jewellery CEO to turn fortunes around

COPENHAGEN/HAMBURG (Reuters) – Puma (PUMG.DE: Quote, Profile, Research) poached a new chief executive from Danish jeweller Pandora, hiring a man with experience on the football field and at long-time rival Adidas (ADSGn.DE: Quote, Profile, Research) to lead a turnaround of the German sportswear company.

Bjorn Gulden has revived the fortunes of Pandora (PNDORA.CO: Quote, Profile, Research) in the year he has been in charge, more than doubling the share price and pushing sales up 53 percent.

Apr 18, 2013

Jewellery maker Pandora CEO quits to head Germany’s Puma

COPENHAGEN/HAMBURG, April 18 (Reuters) – Puma
poached a new chief executive from Danish jeweller Pandora,
hiring a man with experience on the soccer field and at
long-time rival Adidas to lead a turnaround of the
German sportswear company.

Bjorn Gulden has revived the fortunes of Pandora
in the year he has been in charge, more than doubling the share
price and pushing sales up 53 percent.

Mar 29, 2013

Vienna aims to muscle into growing gay travel market

FRANKFURT/VIENNA, March 29 (Reuters) – Vienna has joined a
growing list of European cities seeking to attract lesbian and
gay tourists who are expected to remain willing to spend on
travel while other recession-hit travellers cut back.

City authorities in Vienna this month released a review of
the Austrian capital’s gay and lesbian tourism strategy,
deciding to focus on travellers interested in music, culture and
history — and with money to spend.

Mar 22, 2013

Chairman of Australia’s Leighton quits in row with Hochtief

SYDNEY/FRANKFURT, March 22 (Reuters) – The chairman of
Australia’s Leighton Holdings Ltd has quit in a row
with majority owner Hochtief AG, saying he felt the
German builder no longer supported his company’s independence.

Two non-executive directors also walked away after what all
three “perceived to be a breakdown in relations with the major
shareholder Hochtief,” Leighton said in a statement on Friday.

    • About Victoria

      "Based in Frankfurt, covering German companies in the retail, travel and leisure sectors. In my previous Reuters incarnation in London, I focused on green tech firms, utilities and an array of smallcaps that came my way on the Breaking News team. I started my career as a translator with the Financial Times in London before switching into journalism."
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