FRANKFURT (Reuters) – Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz), the world’s second-biggest sporting goods company, raised its 2012 profit forecast after outperforming rivals Nike and Puma in the key Chinese market as shoppers there snapped up its trademark three-stripe sneakers.
Adidas shares jumped to a record-high on the news, as investors brushed aside the German company’s warning that “commercial irregularities” at its Reebok unit in India could cost it almost 200 million euros ($265 million).
FRANKFURT, April 27 (Reuters) – German mail order company
Neckermann announced it was moving online on Friday, leaving
more than half of its staff out of work as customers
increasingly turn to websites rather than catalogues to buy
homewares, furniture or technology.
“The future of mail order is in the Internet. We cannot let
this pass us by,” the Frankfurt-based company said in a
statement announcing an end to its print catalogue, adding that
over 80 percent of its sales are now made online.
FRANKFURT (Reuters) – Germany’s Puma (PUMG.DE: Quote, Profile, Research) missed expectations with a 5 percent fall in first-quarter earnings, as the group was hit by wariness among European consumers and struggled to exploit demand for western brands in China and lightweight sneakers in the United States.
Along with larger rivals Nike (NKE.N: Quote, Profile, Research) and Adidas (ADSGn.DE: Quote, Profile, Research), Puma had enjoyed a strong end to 2011 and analysts said they were surprised by the results, with sales, margins and profits all missing average forecasts.
FRANKFURT, April 25 (Reuters) – Germany’s Puma
missed expectations with a 5 percent fall in first-quarter
earnings, as the group was hit by wariness among European
consumers and struggled to exploit demand for western brands in
China and lightweight sneakers in the United States.
Along with larger rivals Nike and Adidas,
Puma had enjoyed a strong end to 2011 and analysts said they
were surprised by the results, with sales, margins and profits
all missing average forecasts.
FRANKFURT (Reuters) – Sweeping landscapes, an untouched coastline, whales and penguins galore and the thrill of walking in the footsteps of famous explorers.
After a drop in tourist numbers in recent years, Antarctica is gaining in popularity this year thanks to the recent centenary of the South Pole expeditions and as people start to feel more comfortable shelling out for a once-in-a-lifetime trip.
LEIPZIG/FRANKFURT (Reuters) – A German court on Wednesday ruled in favour of a night flight ban at Frankfurt airport, Europe’s third busiest, dealing a blow to German flagship airline Lufthansa and airport operator Fraport.
Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz), which says night flights are crucial for its cargo operations and to compete with fast-growing Gulf airports, said the decision would have serious consequences for Germany as a place to do business and would result in Frankfurt airport losing out to rivals.
DUESSELDORF, Germany, March 20 (Reuters) – German group
Metro, the world’s fourth-largest retailer, forecast
flat profit this year due to a stuttering global economy and
costs from expanding its cash-and-carry and consumer electricals
Metro, which also runs hypermarkets and department stores,
said on Tuesday it would be 2013 before investors could expect
an increase in profit, as it reported a 1.8 percent decline in
2011 earnings before interest, tax and special items (adjusted
EBIT) to 2.37 billion euros ($3.1 billion).
BASEL, Switzerland (Reuters) – Feathers, unscratchable gold, bamboo and even straw. Adorning watches with regular gold and silver is rather boring these days, as designs at the 2012 Baselworld watch fair showed.
Displays sparkling with the usual gold, diamonds and other precious gems, watchmakers were also keen to show their expertise by designing and working with new materials.
BASEL, Switzerland, March 14 (Reuters) – Traditionally
dominated by timepieces for men looking to show off their status
with a Rolex or Omega, the $21 billion Swiss watchmaking
industry is starting to design intricate watch movements for the
neglected female market.
Until recently, the women’s market was mostly focused on
simple quartz watches for under 1,000 Swiss francs ($1,100) or
luxury diamond-encrusted pieces with mind-blowing price tags.
BASEL, Switzerland, March 13 (Reuters) – Watch
companies are having to move fast to build in-house production
or alliances with Swiss makers of movements, dials and cases to
replace supplies being cut by Swatch Group and to satisfy rising
demand, experts said at an industry fair.
Specialist suppliers are being snapped up by larger players,
leaving smaller independent watch companies with fewer options
as Swatch, the world’s largest watchmaker and for
decades the main supplier of movements to the industry, cuts
deliveries to focus on its own brands.