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.
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!
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.
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| 1 Comment
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