HANOVER, Germany, Dec 18 (Reuters) – German travel and
tourism group TUI AG said more work was needed to
turn around underperforming cruise and hotels businesses as it
targets underlying profit of 1 billion euros ($1.4 billion) in
two years’ time.
The company, which reported underlying earnings before
interest tax and amortisation (EBITA) for the year to
end-September up 2 percent, also said it would pay a 0.15 euro
per share dividend, the first since 2007, sending its shares to
a five-year high.
FRANKFURT (Reuters) – In Brazil’s World Cup stadiums next summer, soccer teams from around the globe will battle for the famous golden trophy.
At the same time, another fight for global supremacy will be taking place – as Adidas takes on Nike in the next round of their tussle to be the world’s biggest sports brand.
FRANKFURT (Reuters) – German sporting goods maker Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz) is counting on soccer, running and a host of new shirts and shoes to help it achieve profit and sales growth in 2014 and hit its 2015 goals, the company said on Tuesday.
Adidas, the world’s second largest sportswear maker behind Nike (NKE.N: Quote, Profile, Research, Stock Buzz), is aiming to increase sales to 17 billion euros in 2015 and increase its operating profit margin to 11 percent that year, compared with 11 billion and 7.5 percent in 2010.
FRANKFURT (Reuters) – German fashion house Hugo Boss (BOSSn.DE: Quote, Profile, Research, Stock Buzz) has abandoned its 2015 profit target, joining the ranks of luxury goods companies warning of slowing sales growth in China.
China has been the engine of the luxury goods industry in recent years, but a weakening in economic growth there, coupled with a crackdown on bribery, has tempered demand this year.
HERZOGENAURACH, Germany (Reuters) – Germany’s Puma (PUMG.DE: Quote, Profile, Research, Stock Buzz) will return to its sporting roots to restore growth to the struggling brand whose profits crashed 70 percent last year, the group’s new chief executive said.
Puma ranks a distant third in the sports apparel industry behind Nike (NKE.N: Quote, Profile, Research, Stock Buzz) and Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz) and CEO Bjoern Gulden’s turnaround plan breaks with the company’s efforts over two decades under former chief Jochen Zeitz to strike a chord with fashion-led consumers.
FRANKFURT (Reuters) – Adidas (ADSGn.DE: Quote, Profile, Research) forecast a $2.7 billion (1.7 billion pounds) boost to sales from next year’s football World Cup would help it over a tough 2013, and said it would fend off rival Nike (NKE.N: Quote, Profile, Research) in hotly-contested European markets with innovative running gear.
Adidas, the world’s No. 2 maker of sportswear and accessories, has struggled this year to maintain momentum after a big boost in 2012 from the Olympics and European football championship, and warned in September sales and profits would not rise as much as expected.
FRANKFURT, Nov 7 (Reuters) – Adidas said it was
looking ahead to the sales opportunities offered by next year’s
soccer World Cup in Brazil, after third quarter results showed
it continued to lose ground to larger rival Nike in
Adidas, the world’s No. 2 maker of sports gear, said third
quarter operating profit dropped 6 percent while sales fell 7
percent, hit by distribution problems in Russia, currency
effects and poor sales of golfing products.
FRANKFURT (Reuters) – Beiersdorf (BEIG.DE: Quote, Profile, Research, Stock Buzz), the maker of Nivea creams and lotions, said it was gaining market share from rivals as new products at its consumer and adhesives divisions boosted profits and prompted it to increase its outlook for the year.
Beiersdorf reported a 17 percent jump in third-quarter operating profit on Tuesday, year-on-year, after it said late on Monday that it was upgrading its sales and profit outlook for 2013.
FRANKFURT (Reuters) – Down in the undergrowth of Europe’s economy, something is stirring.
Whether they make paper to pack peaches, recruit temps for secretarial work or work at the dirty end, handling the waste that all businesses produce, managers are talking about signs the gloom is lifting and hopes that growth is on its way back.
FRANKFURT, Oct 23 (Reuters) – Germany’s MTU Aero Engines
reported better than expected results on Wednesday,
helped by demand for engines for new passenger jets, and
affirmed its outlook for the year.
Global airlines will buy more than $3.5 trillion of aircraft
over the next 20 years, to meet demand for travel to and from
emerging markets and renew ageing fleets in the West, according
to the world’s big two planemakers, helping suppliers such as
GKN and MTU.