Thu, Feb. 19, 6:52 AM
- Adidas (OTCQX:ADDYY) is on the hunt for a new CEO.
- A lengthy board search for a replacement to the much-maligned Herbert Hainer has begun.
- Shares of Adidas were up 4.4% earlier in Frankfurt trading off the development.
- Previously: Adidas CEO to press on (Jan. 28 2015)
- Previously: Discontent builds over Adidas (Feb. 05 2015)
Mon, Feb. 16, 11:11 AM
- The confluence of New York Fashion Week and the NBA All-Star game in New York City gave major apparel brands a launching pad to unveil new products and strategies.
- The annual events have seen significant product successes and misfires in the past which have impacted profits in the retail sector.
- Under Armour (NYSE:UA): The company used the weekend to launch its largest global brand campaign ever with the new Curry One basketball show. Actor Jamie Foxx and CEO Kevin Plank worked events all weekend, while Curry aces the 3-point shooting competition at the ASG.
- Banana Republic (NYSE:GPS): Gap promoted a new-look BR line at NY Fashion Week events. Topeka Capital Markets thinks star designer Marissa Webb can recharge some life in the brand which has suffered with the rise of the athleisure category.
- Kate Spade (NYSE:KATE): The retailer's Chief Content Officer is confident that a big bet on tailored flare pants will be on-trend. The strategy runs counter to the popular skinny-leg look.
- DKNY (OTCPK:LVMHF): The fashion house drew high marks on the runway for its updated collection which critics see as selling.
- Tommy Hilfiger (NYSE:PVH): The 30-year old brand displayed its fall lines which include more football and varsity themes. Critics think the grounded approach might broaden the selling demographic.
- Adidas (OTCQX:ADDYY): The German company used the weekend to showcase its new shoe collaboration with Kanye West. Reviews were mixed with Nike and UA grabbing more exposure through their basketball association.
Thu, Feb. 5, 2:03 PM
- Adidas (OTCQX:ADDYY) is hearing from dissatisfied institutional investors over the company's lackluster performance.
- Union Investment has gone so far as to call for the ouster of CEO Herbert Hainer.
- Adidas has lost market share to Nike and Under Armour in the U.S. over the last year and suffered worse losses in Russia than its peers.
Wed, Jan. 28, 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.
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.
Dec. 16, 2014, 12:52 PM
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.
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).
Oct. 17, 2014, 9:05 AM| Comment!
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.
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.
- Related stocks: OTCPK:FRCOY, OTCPK:IDEXY, GPS, PVH, RL, NKE, OTCQX:ADDYY, OTCPK:HMRZF, LULU.
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.
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
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%).
Jul. 14, 2014, 8:22 AM| Comment!
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