MANNHEIM, Germany (Reuters) – German analyst and investor sentiment jumped more than expected in September thanks to the improved outlook for the euro zone, a survey showed on Tuesday in welcome news for Chancellor Angela Merkel who is seeking a third term in an election on Sunday.
A monthly poll of economic sentiment rose to 49.6 from 42.0 in August, ZEW economic think tank said, reaching the highest level since April 2010 and surpassing the consensus forecast in a Reuters poll for a rise to 46.0.
FRANKFURT/LONDON (Reuters) – Violence sweeping Egypt hit the nation’s tourism industry on Friday as European governments warned holidaymakers to stay away from its Red Sea resorts, prompting some travel agents to stop all trips to Egypt.
German tour operators Thomas Cook Germany and TUI Germany, part of Europe’s largest tour operator TUI Travel, canceled all trips to Egypt after the German foreign ministry advised against travelling to the beach resorts popular with European sun-seekers and divers.
FRANKFURT (Reuters) – German sporting goods firm Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz) cut its sales forecast for 2013 after weak European trading and adverse currency movements took their toll in the second quarter.
The world’s second largest maker of sportswear and goods after Nike (NKE.N: Quote, Profile, Research, Stock Buzz) said it now expected group sales to rise by a low to mid single-digit percentage in 2013, compared with previous guidance for a mid single-digit rate.
FRANKFURT, Aug 8 (Reuters) – German sporting goods firm
Adidas cut its sales forecast for 2013 after adverse
currency moves and lacklustre European trading took their toll
in the second quarter.
The world’s second largest maker of sportswear after Nike
said it now expected group sales to rise by a low to mid
single-digit percentage in 2013, compared with previous guidance
for a mid single-digit rate.
FRANKFURT, Aug 7 (Reuters) – Nivea skin cream maker
Beiersdorf AG said it planned to outperform rivals in
2013, predicting sales growth of between 5 and 6 percent as new
shower and anti-ageing products help it gain market share.
Under Chief Executive Stefan Heidenreich, the Hamburg,
northern German-based company has cut back on some areas like
make-up but has brought out new products, such as a moisturiser
that can be used in the shower, a stress-busting deodorant and
an anti-ageing skincare range.
FRANKFURT (Reuters) – German retailer Metro AG (MEOG.DE: Quote, Profile, Research, Stock Buzz) posted a smaller than expected fall in second-quarter earnings as cost cutting at its main cash and carry business cushioned sluggish sales across its recession-hit European markets.
Shares in the group, which also runs supermarkets, department stores and Europe’s biggest consumer electricals chain, jumped to a 16 month high on Thursday after it kept financial targets for its shortened 2013 business year.
FRANKFURT, July 24 (Reuters) – German sports apparel group
Puma SE, hoping to revive its fortunes under a new
chief executive, reported a second quarter of falling sales and
profits on Wednesday and said the rest of the year looked
Puma, 83 percent controlled by French luxury goods group
Kering, has fallen behind rivals such as Nike
and Adidas in the market for soccer gear and running
shoes after spending years focusing on its fashion products.
FRANKFURT (Reuters) – Rocket Internet, the venture capital company behind online brands such as retailer Zalando, says investors’ growing interest in internet businesses could help it more than triple its portfolio over the next five years.
Rocket, backed by Swedish investor AB Kinnevik, was founded in 2007 by the Samwer brothers Oliver, Marc and Alexander, who had an early success with mobile phone content provider Jamba whose offerings included the Crazy Frog ringtone.
FRANKFURT, July 11 (Reuters) – Makers of outdoor goods from
ski jackets to tents and walking trousers are using
international expansion, fashionable new products and the
financial clout and expertise of big investors as they battle a
slowdown in Europe.
The market for outdoor goods has expanded rapidly over the
last decade, with growth rates often reaching 10 percent, as
people spend more time in the hills and mountains to get away
from the stress of work and keep fit.
PARIS/FRANKFURT, June 18 (Reuters) – PPR turned
the page on its retail past and started a new life as a luxury
and sports brands group by renaming itself Kering at its annual
general meeting on Tuesday.
The company will now have to prove it can also change the
fortunes of Puma, its underperforming sportswear brand and
replicate in sports the success it has had in luxury goods.