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adidas AG ADR (ADDYY)

  • Yesterday, 8:32 AM
    • Adidas (OTCQX:ADDYY) CEO Herbert Hainer says he has no intention to step down from his position, despite some self-admitted mistakes made by the company under his tenure.
    • A big bet on golf last year didn't pay off for Adidas as global demand in the sport tightened.
    • The executive is under contract with Adidas until 2017.
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  • Fri, Jan. 23, 6:18 AM
    • Adidas (OTCQX:ADDYY) has sold its Rockport shoe business for $280M to a new entity formed by Berkshire Partners and New Balance, as the German company narrows its focus on sporting goods.
    • CEO Herbert Hainer is under pressure for a turnaround after scrapping sales and profit targets for 2015 last year because of slumping demand for golf supplies in North America and turmoil in Russia.
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  • Dec. 16, 2014, 12:52 PM
    • Reebok (OTCQX:ADDYY) announces the opening of 4 new FitHub stores in California.
    • The FitHub store concept incorporates in-store physical activities including yoga classes.
    • Currently, Reebok has about 1.8% market share in the sportswear category.
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  • Dec. 10, 2014, 5:03 AM
    • Nike (NYSE:NKE) is accusing three of its former senior shoe designers of stealing commercial secrets, including the company's future shoe line plans, and making off for German rival Adidas (OTCQX:ADDYY).
    • The lawsuit, which asks for more than $10M in damages, alleges that before the trio left Nike, they were already consulting for Adidas.
    • Nike also claims Adidas knew of the trio's non-compete agreements, but promised to pay for any legal fallout.
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  • Oct. 20, 2014, 2:02 AM
    • A group of investors from Hong Kong and Abu Dhabi is launching a €$1.7B ($2.2B) bid to buy Reebok from Adidas (OTCQX:ADDYY) following years of disappointing results and fading market share.
    • Hong-Kong based private equity fund Jynwel Capital and funds affiliated with the government of Abu Dhabi plan to send a letter to Adidas proposing the deal.
    • Adidas bought Reebok in 2006 for approximately €3B ($3.8B).
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  • Oct. 17, 2014, 9:05 AM
    • Bank of America downgrades Adidas (OTCQX:ADDYY) to an Underperform rating.
    • The investment firm cuts its price objective on shares to €49 from €60.
    • The German athletic apparel seller has seen its estimates cut by a number of other U.S. and European brokers over the last few months.
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  • Oct. 8, 2014, 2:01 PM
    • Adidas (OTCQX:ADDYY) appoints two senior execs to new roles as it continues to revamp its management lineup.
    • The company has added a chief human resource office and expanded the position of chief information officer.
    • The big picture: The German apparel seller has lost market share to Nike in key regions this year and has been criticized for moving too slow in adapting to consumer trends.
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  • Oct. 8, 2014, 6:51 AM
    • Cowen Research weighs in on the global apparel industry.
    • The investment firm thinks the market will grow in the low single digits over the next few years.
    • Moderate materials costs inflation will partially offset higher labor and compliance, predicts Cowen.
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  • Oct. 1, 2014, 4:13 AM
    • Facing investor discontent over its underperforming share price, Adidas (OTCQX:ADDYY) announced plans to buy back up to €1.5B ($1.89B) in shares over the next three years.
    • The news also follows the company's third profit warning this year, announced in July, attributed to a plunge in sales at its golf business and its exposure to a weak Russian market.
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  • Sep. 9, 2014, 9:23 AM
    • A large patch of the retail sector will have their ears perked up this afternoon to see what Apple (NASDAQ:AAPL) delivers up with its iWatch announcement or teaser.
    • Though the company's entry into wearable technology is considered nearly a certainty, the unknown variable is if the product will end up falling under the "gadget" category or be another Apple device revolution.
    • Computerworld's Mike Egan is in the latter camp: "The iWatch should be most comparable to the Mac and the iPhone, Apple's two most stunning revolution."
    • Forrester Research isn't waiting for details, forecasting 10M iWatch sales by 2016 - a mark which could dent demand for high-end watches.
    • Showtime is 1:00 pm ET. (webcast)
    • Luxury watchmakers: Movado (NYSE:MOV), Fossil (NASDAQ:FOSL), Swatch (OTCPK:SWGAY), Tiffany (NYSE:TIF), Richemont (OTCPK:CFRUY), LVMH Moet Hennessy (OTCPK:LVMHF), Hermes (OTCPK:HESAF)
    • Wearable technology players: Sony (NYSE:SNE), Nike (NYSE:NKE), Samsung (OTC:SSNLF, OTC:SSNGY), Garmin (NASDAQ:GRMN), Basis (NASDAQ:INTC), Fitbit, Jawbone, Adidas (OTCQX:ADDYY), Under Armour (NYSE:UA).
  • Aug. 4, 2014, 9:49 AM
    • Berenberg Bank downgrades Adidas (OTCQX:ADDYY) to a Sell rating.
    • The analyst cut is in response to a profit warning from Adidas last week due in part to its exposure to Russia.
    • Berenberg also notes the superior brand positioning of Nike in key markets.
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  • Jul. 31, 2014, 1:41 PM
    • Sales related to the golf industry have struggled to keep up with other sporting categories as the sport maintains an older-age profile. By some estimates, less than 10% of all golfers are under 30 due in part to the time and cost considerations.
    • Earlier today, Adidas (OTCQX:ADDYY) lowered its full-year profit forecast citing weakness in the golf business as a factor. Sales growth for golf equipment and apparel has also slowed for Nike (NKE -2.6%).
    • Shares of Callaway Golf (ELY -2.4%) have fallen 9% YTD, while the struggling Golf Galaxy business has dragged down results at Dick's Sporting Goods (DKS -3.2%).
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  • Jul. 14, 2014, 8:22 AM
    • Manchester United (NYSE:MANU) scores a 10-year kit sponsorship deal with Adidas (OTCMKTS:ADDYY) which will see it earn $1.3B over the course of the contract.
    • The amount is more than some analysts forecast Manchester United would nab after Nike passed on renewing its contract with the club.
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  • Jul. 10, 2014, 8:57 AM
    • Adidas (ADDYY) is the uniform sponsor of both teams playing in the World Cup final and saw three of its endorsers - James Rodriguez (Columbia), Lionel Messi (Argentina) and Thomas Mueller (Germany) - top the list of goalscorers for the tournament.
    • The German company hasn't been specific on the hundreds of millions it spent on World Cup marketing, saying only it expects a "modest increase" in sales costs this year. For the year, Adidas thinks it can bring in at least $2.7B in soccer sales.
    • Nike (NKE) had a lot riding on Brazil and its 22-year old star Neymar, although analysts think the disappointing exit by the Selecao will only have a mild impact on soccer sales.
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  • Jul. 8, 2014, 7:57 AM
    • Nike (NKE) will end a long-time deal to supply Manchester United (MANU) with soccer kits after its current contract expires, according to Reuters.
    • The 7th-place soccer club was looking for a new sponsorship deal at around £60M ($102.1M) per season.
    • What to watch: Nike isn't expected to go overboard trying to nab deals with other top European teams with its DNA in backing the top individual stars in a sport, rather than clubs or teams. Adidas (ADDYY) will likely have talks with Man U. about replacing Nike.
  • Jun. 30, 2014, 3:21 PM
    • Basketball shoe sales rose 21% during the last year, according to data from NPD Group.
    • The sizzling growth for the category compares favorably to the 4% gain in the overall athletic footwear market.
    • Prices and volume were up over the last year.
    • Related stocks: ADDYY, FINL, FL, NKE, UA, DKS.
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Company Description
adidas Group designs, develops, produces and markets a range of athletic and sports lifestyle products.
Industry: Apparel Stores
Country: Germany