Tue, Apr. 7, 8:36 AM
- Raymond James downgrades Adidas (OTCQX:ADDYY, OTCPK:ADDDF) to an Underperform rating from Market Perform.
- The analyst community has been largely negative on Adidas due to its stumbles in the U.S.
- An investor presentation late last month hasn't restored confidence in Adidas CEO Herbert Heiner.
- Previously: Adidas issues guidance update (Mar. 26 2015)
Mon, Mar. 30, 2:15 PM
Thu, Mar. 26, 9:40 AM| Comment!
Tue, Mar. 17, 2:45 PM
- Under Armour's (UA +1.7%) increased presence in basketball is on display this week with the company's logo on the uniforms of six different teams in the NCAA college basketball tournament, compared to just one a year ago.
- Nike (NYSE:NKE) has 48 teams in the tournament - including two wearing the Jordan Brand logo - compared to 45 last year. The company is in good shape with three of the four top seeds wearing the swoosh.
- Adidas (OTCQX:ADDYY, OTCPK:ADDDF) is down to 11 teams from 18 a year ago.
- Berkshire Hathaway property Russell Athletic landed three teams in the Big Dance vs. four a year ago.
- Previously on Under Armour and basketball.
Mon, Mar. 16, 12:48 PM
- Adidas (OTCQX:ADDYY, OTCPK:ADDDF) says it won't bid on renewing a supplier deal with the NBA when its current contract with the league runs out after the 2016-2017 season.
- The development leaves Nike (NYSE:NKE) and Under Armour (NYSE:UA) as the two companies likely to make an aggressive play to land the high-exposure NBA deal.
- The decision from the German company could tip off it will focus in different areas in the U.S. after it lost considerable basketball market share over the last few years.
- Previously: Intense bidding expected on next NBA contract (Mar. 11 2015)
Wed, Mar. 11, 10:18 PM
- There's some intrigue building over which sports company will land the next contract to sponsor NBA uniforms and other apparel.
- Major player #1: Adidas (OTCQX:ADDYY, OTCPK:ADDDF) paid $400M in 2006 to secure the rights through the 2017 season, a mark that could be blown away in the next round of bidding. Despite the expected hefty price tag, the German company's struggles in the U.S. raises the importance of the NBA contract.
- Major player #2: Nike (NYSE:NKE) is likely to play to some strong defense to protect its formidable basketball shoe market share. Analysts think the Swoosh could use a broad NBA partnership as a complement to the Jordan brand which is showing its age a bit.
- Major player #3: Under Armour (NYSE:UA) is looking to build basketball momentum after scoring a well-timed Stephen Curry partnership and shoe introduction. At last count the sport only accounted for 1% of UA's revenue.
- Citigroup notes the NBA's growing international presence makes the contract even more valuable to growth-minded sports apparel sellers.
Thu, Mar. 5, 12:57 PM
- A fresh update on 2015 guidance from Adidas (OTCQX:ADDYY) matches the consensus estimate of analysts.
- Revenue is expected to increase at a mid-single-digit rate and net income is seen rising 7% to 10%.
- Shares of Adidas fell 38% last year after the German company lost market share in the U.S. and Europe.
- Adidas Annual Report
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!
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