FRANKFURT (Reuters) – Adidas (ADSGn.DE: Quote, Profile, Research) said soaring demand from the United States, China and Russia for its sneakers would offset a profit hit from the Japan earthquake, allowing it to raise its sales outlook for the second time this year.

“Japan is a very profitable country for us and it is definitely eating into our profit,” chief executive Herbert Hainer said following forecast-beating first-quarter results.

“In running, basketball and Originals, Adidas in the U.S. is on fire,” he said on Thursday.

Shares in the world’s second-largest sporting goods company, rose 4.3 percent to an all-time high of 52.05 euros after the results and improved outlook.

“We view the strong demand for sporting goods (as) more important than the unchanged earnings outlook,” LBBW analyst Bernd Muell said.

Adidas, which competes with Nike (NKE.N: Quote, Profile, Research) and Puma (PUMG.DE: Quote, Profile, Research), said it now expects 2011 sales to rise at a high single-digit percentage rate. That compares with a previous target of a medium to high single-digit percentage rate.

Local rival Puma last month increased its sales goal for the year after growth in the United States helped to drive record sales.

FRANKFURT, May 4 (Reuters) – Nivea-maker Beiersdorf (BEIG.DE: Quote, Profile, Research, Stock Buzz) said plans to rejuvenate the business were on track as a pared-down product range weighed on first-quarter sales and profit at its key consumer business.

Beiersdorf, which also makes La Prairie luxury skincare products and Tesa industrial adhesives, has been fighting to claw back lost market share and profitability by streamlining its product range and investing in its core Nivea brand.

Its shares were up 1.2 percent at 0852 GMT on Thursday, the second-biggest gainer on Germany’s blue-chip DAX .GDAXI index, after it confirmed its 2011 guidance and overall group profits came in better than expected.

“We believe that the combination of good first-quarter results and the reiteration of the company’s 2011 guidance should alleviate some concerns and bring some reassurance around Beiersdorf’s ability to accelerate the sales growth of its consumer division as the year unfolds,” Nomura analyst Guillaume Delmas said.

Beiersdorf shares currently trade at 24 times forecast earnings, compared with a multiple of 14 for local rival Henkel (HNKG_p.DE: Quote, Profile, Research, Stock Buzz), according to Thomson Reuters StarMine.

The Beiersdorf share price is regularly boosted by speculation U.S. rival Procter & Gamble (PG.N: Quote, Profile, Research, Stock Buzz) might be interested in buying the company.

ADHESIVES AND FACE CREAMS

FRANKFURT (Reuters) – Adidas, the world’s second-largest sporting goods company, raised its sales outlook for the second time this year after the U.S., Chinese and Russian markets drove first-quarter growth.

Adidas, which competes with Nike and Puma, said on Thursday it now expects 2011 sales to increase at a high single-digit percentage rate.

Its previous target was for sales to rise by a medium to high single-digit percentage rate.

Local rival Puma last month increased its sales goal for the year after growth in the United States helped to drive record sales.

However, soaring raw material costs and the impact of the earthquake in Japan, one of its top five markets, mean the bigger-than-expected increase in sales will not translate into more profits, Adidas said.

It expects the 2011 group gross margin to be between 47.5 percent and 48.0 percent, roughly in line with the 47.8 percent recorded for last year.

“As a consequence of the tragic events in Japan during the first quarter of 2011, group gross margin will be negatively impacted by sales declines in this market,” it said.

DUESSELDORF, Germany, May 3 (Reuters) – Metro (MEOG.DE: Quote, Profile, Research, Stock Buzz), the world’s fourth-biggest retailer, added to fears that austerity measures and rising prices were keeping consumer spending in check despite mounting signs of a global economic recovery.

The German group, which runs cash and carries, hypermarkets, electricals and department stores, said on Tuesday first-quarter underlying operating profit rose 6.6 percent to 145 million euros ($215 million), helped by cost cutting.

However, sales were flat at 15.5 billion euros, missing analysts expectations for a small rise.

“Slightly disappointing,” said DZ Bank analyst Herbert Sturm. Traders said Metro shares were set to open down around 1.1 percent.

Metro said spending was held back by a late Easter and that, including the holidays, sales were up 1 percent from January-April. It also reiterated it expected sales to grow more than 4 percent and underlying profit to rise 10 percent in 2011.

Germany is one of Europe’s strongest recovering economies, boosted by its rapidly expanding exporting sector, and analysts are hopeful Metro will also benefit from robust growth in many of its eastern European markets.

Data on Friday showed a surprise fall in German retail sales, and international retailers like French group Carrefour (CARR.PA: Quote, Profile, Research, Stock Buzz) and British company Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz) have shown recently that strong sales in emerging markets were only partly offsetting difficult trading conditions in western Europe. [ID:nLDE73S075] [ID:nLDE73H1RE] [ID:nLDE73D1HC]

TURIN, Italy (Reuters) – Written off by many as part of Italy’s industrial triangle, Turin is more than just the home of carmaker Fiat and the Juventus soccer team.

This year, it is celebrating its roots as the first capital of modern Italy by hosting the festivities for the 150th anniversary of the reunification of the country.

Why not spend a weekend wandering its 18 km (11 miles) of arcaded walkways, people-watching over aperitivi, and sampling Piedmont cuisine in the home of Nutella and TicTacs? Reuters correspondents with local knowledge help you get the most out of a visit.

FRIDAY

6 p.m. Start the weekend as the Torinese do, at Piazza Vittorio Veneto, one of the largest squares in Europe at 360 metres (yards) in length. Known more briefly as Piazza Vittorio to the locals, it was built in 1825 and boasts arcaded walkways on three of its four sides as well as a great view over the majestic Grande Madre di Dio church and the hillside of the Monte dei Cappuccini on the opposite bank of the River Po.

The bars on Via Po, which runs between the square and Piazza Castello lay out aperitivi, buffet-style food for you to nibble on with a glass of wine, from about 7 p.m. Try Mulassano, a tiny venue on the left-hand side of the arcades as you approach from Piazza Vittorio, Cafe Elena, once the haunt of philosopher Friedrich Nietzsche, or trendy La Drogheria.

8 p.m. Time to get stuck into what the Italians are probably best known for – their food. Restaurant Porto di Savona was founded in 1863, back when Turin was the capital of Italy for four years from 1861 to 1865. Here you can try out Piedmonte specialities, such as risotto with Barbera wine. (www.foodandcompany.com/food&company.html)

FRANKFURT/LONDON, April 28 (Reuters) – Germany’s TUI AG (TUIGn.DE: Quote, Profile, Research, Stock Buzz), the owner of Europe’s largest travel firm TUI Travel (TT.L: Quote, Profile, Research, Stock Buzz), is seeking to exit its stake in container shipping group Hapag-Lloyd [HPLG.UL] to focus on tourism activities.

With IPO markets volatile and its last attempt at selling off Hapag-Lloyd in 2009 not going to plan, forcing TUI to keep a larger stake than it envisaged, what are its options this time around?

IPO

TUI’s board had approved plans for a partial IPO of Hapag-Lloyd in March. However, the Albert Ballin consortium, which is made up of German investors and owns 50.2 percent of the shipping group, said just over two weeks later that it was postponing the decision due to market uncertainty following the Japan earthquake and North African uprisings. [ID:nLDE72L04X]

“Who is going to float a business in this market? Why would you do it? You might get a float away but it’s the aftermarket,” a source close to the supervisory board told Reuters.

With several big IPOs pulled or delayed recently, investors are expecting discount on prices.

“If you do want to do it in this environment you’re going to have to take a big haircut on the price because someone’s got to bear the risk. The view is if you don’t need to do it, don’t do it,” the source said.

FRANKFURT, April 28 (Reuters) – German fashion house Hugo Boss (BOSG_p.DE: Quote, Profile, Research, Stock Buzz) followed luxury peers LVMH and Burberry with a jump in sales and profits for the start of 2011 as Asian demand for European luxury labels continues unabated.

Hugo Boss forecast 2011 sales up at least 12 percent and core profit up 15 percent, with growth to be driven by China and the United States and expansion of its network of own stores.

Shares in the group, known for its suits, hit an all-time high of 66.41 euros after the results, with analysts saying the group’s guidance for the year now looks too conservative.

Hugo Boss shares had already doubled over the past year and Thursday’s gains are more good news for Permira [PERM.UL], the private equity firm that owns 72 percent of the group. It has previously said it is in no hurry to sell its stake in the group. [ID:nLDE70H2G7]

As the world recovers from recession, makers of luxury goods from shoes to handbags, wine and watches, have enjoyed soaring sales over the past year, driven by China’s love of chic brands. LVMH (LVMH.PA: Quote, Profile, Research, Stock Buzz) and Burberry (BRBY.L: Quote, Profile, Research, Stock Buzz) said last week they had made a good start to the year, despite fears that the earthquake in Japan would halt demand in the region. [ID:nLDE73I08R]

Hugo Boss added on Thursday it had been able to maintain prices, thus improving its gross profit margin in the quarter.

That contrasts with retailers at the lower end of the scale, such as Primark (ABF.L: Quote, Profile, Research, Stock Buzz) and H&M (HMb.ST: Quote, Profile, Research, Stock Buzz), which are being forced to keep prices low and absorb higher cotton costs themselves in order to hang on to bargain-hunting customers. [ID:nLDE73P1O4]

FRANKFURT, April 26 (Reuters) – Puma (PUMG.DE: Quote, Profile, Research, Stock Buzz) said it aims to reach the 3 billion euro ($4.36 billion) sales mark this year, earlier than expected, as it reported record first quarter sales driven by growth in the United States.

Outgoing Chief Executive Jochen Zeitz said the group had also managed to increase sales in Japan in the quarter, one of its key markets, despite an earthquake and tsunami there.

Sales of 3 billion euros in 2011 would equate to an 11 percent rise, compared with the group’s previous forecast for medium to high single-digit growth.

Shares in the group jumped 5.5 percent to 220 euros, their highest level since mid-February and making them the biggest mid-cap gainer in Germany .

Prior to the update, analysts had been expecting the group, the world’s number 3 sporting goods maker after Nike (NKE.N: Quote, Profile, Research, Stock Buzz) and Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz), to report 2011 sales of about 2.9 billion euros, according to a Reuters poll.

“Puma managed to grow nicely again. The gross margin was kept stable, which we consider very positive,” LBBW analyst Bernd Muell wrote in a note.

Puma, owned by French luxury group PPR (PRTP.PA: Quote, Profile, Research, Stock Buzz), is aiming to increase sales to 4 billion euros by 2015 under its ‘Back on the Attack’ strategy.

FRANKFURT, April 20 (Reuters) – German broadcaster ProSieben (PSMG_p.DE: Quote, Profile, Research, Stock Buzz) has sold its Belgian and Dutch assets for 1.23 billion euros ($1.8 billion), allowing it to pay down debt ahead of a possible exit by its owners.

ProSieben, owned by private equity firms KKR [KKR.UL] and Permira [PERM.UL], said on Wednesday it had sold its TV and radio channels as well as its print business to consortia led by Finnish media group Sanoma (SAA1V.HE: Quote, Profile, Research, Stock Buzz).

The sale comes four years after Munich-based ProSieben bought SBS Broadcasting as it tried and failed to create a pan-European rival to RTL Group AUDK.LU.

The deal saddled the German group with a pile of debt, which stood at 3.02 billion euros by the end of 2010, and led Chief Executive Thomas Ebeling to start a strategic review.

Now the broadcaster will be able to significantly reduce its debt and leverage, Ebeling said, without elaborating.

ProSieben aims to improve its ratio of net debt to EBITDA (earnings before interest, tax, depreciation and amortisation) to 1.5-2.5 in the short to medium term, from 3.3 times at the end of last year. It plans to publish more details on its debt with first-quarter results on May 5.

“Finally, ProSieben tunes in and cuts debt,” a Frankfurt-based trader said.

METZINGEN, Germany, March 29 (Reuters) – German fashion house Hugo Boss (BOSG_p.DE: Quote, Profile, Research, Stock Buzz) forecast that China’s love affair with luxury would drive double-digit sales and earnings growth this year.

“We’ve had a good start to 2011 and are confident of a another record year,” Chief Executive Claus-Dietrich Lahrs told reporters on Tuesday.

Shares rose 2.8 percent to 56.72 euros, the biggest mid-cap gainer in Germany , with analysts saying the prediction for sales growth of at least 12 percent and core earnings growth of 15 percent were above expectations.

Hugo Boss, which has been expanding its casual wear range alongside its popular suits, said European brands in particular were expected to benefit most from rising wealth in China.

LVMH, the world’s largest luxury goods company, last month said Chinese clients were “infatuated” with its Louis Vuitton brand. [ID:nLDE71310T]

Lahrs told Reuters in an interview that smaller Chinese cities were also now experiencing strong growth, as city planners develop infrastructure and shopping malls to encourage people to stay in second-tier cities instead of heading for the major centres such as Shanghai and Beijing.

Hugo Boss, majority-owned by private equity firm Permira [PERM.UL], also said growth in 2011 would be helped by a strategy to open more of its own stores. It ended 2010 with 537 stores, compared with 438 a year earlier.