The Independents Acquires Production Studio Smuggler
The global collective has brought film studio Smuggler under its umbrella to bolster its entertainment capabilities.
Herzogenaurach, Germany
Retail
Adidas Warns That Worsening Pandemic Will Weigh on Earnings
The German sportswear company's revenue is no longer on track for growth in the fourth quarter, predicting a single-digit percentage decline.
Adidas Warns That Worsening Pandemic Will Weigh on Earnings
The German sportswear company's revenue is no longer on track for growth in the fourth quarter, predicting a single-digit percentage decline.
Retail
Report: Adidas Prepares Sale of the Reebok Brand
The company will decide in the coming months whether to proceed with a sales process, said a person familiar with the matter.
Report: Adidas Prepares Sale of the Reebok Brand
The company will decide in the coming months whether to proceed with a sales process, said a person familiar with the matter.
Retail
Puma Shares Dip as Kering Sells 5.9% Stake
Kering sold its stake in the German sportswear company for approximately $772 million.
Puma Shares Dip as Kering Sells 5.9% Stake
Kering sold its stake in the German sportswear company for approximately $772 million.
Retail
Adidas Expects Rebound in Third Quarter
Second-quarter sales of €3.58 billion ($4.25 billion) were above analysts’ estimate of €3.24 billion.
Adidas Expects Rebound in Third Quarter
Second-quarter sales of €3.58 billion ($4.25 billion) were above analysts’ estimate of €3.24 billion.
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Workplace & Talent
Adidas Extends CEO Kasper Rorsted's Contract by Five Years
Rorsted, who has led the German sportswear retailer since 2016, will remain in the role until July 31, 2026.
Adidas Extends CEO Kasper Rorsted's Contract by Five Years
Rorsted, who has led the German sportswear retailer since 2016, will remain in the role until July 31, 2026.
Retail
Puma Uncertain About the Second Half of 2020 After Quarterly Sales Slump
The German sportswear brand saw its sales drop 30.7 percent to $975.34 million in the second quarter.
Puma Uncertain About the Second Half of 2020 After Quarterly Sales Slump
The German sportswear brand saw its sales drop 30.7 percent to $975.34 million in the second quarter.
Retail
Adidas Sees Rebound in China Quicker Than Expected
The German sportswear brand now expects second-quarter sales for the Greater China region to be around the same level as last year.
Adidas Sees Rebound in China Quicker Than Expected
The German sportswear brand now expects second-quarter sales for the Greater China region to be around the same level as last year.
Retail
Puma Bets on Wellness Uptick for Recovery
The sports retailer expects all markets to recover by the end of the year and for growth to return in 2021.
Puma Bets on Wellness Uptick for Recovery
The sports retailer expects all markets to recover by the end of the year and for growth to return in 2021.
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Retail
Adidas Misses Forecasts With 93% Profit Plunge
First-quarter operating profit fell to €65 million, well short of the €263 million expected by analysts.
Adidas Misses Forecasts With 93% Profit Plunge
First-quarter operating profit fell to €65 million, well short of the €263 million expected by analysts.
Retail
Puma Sets Short-Time Work for 1,400 Employees
The sportswear company said staff will work half of their usual hours but will still be paid their full salary.
Puma Sets Short-Time Work for 1,400 Employees
The sportswear company said staff will work half of their usual hours but will still be paid their full salary.
Retail
Adidas and Puma Forecast Sales Decline in China Amid Coronavirus Outbreak
Shares in Adidas and Puma, already pummelled in the last few weeks, declined 6 percent and 4.4 percent respectively.
Adidas and Puma Forecast Sales Decline in China Amid Coronavirus Outbreak
Shares in Adidas and Puma, already pummelled in the last few weeks, declined 6 percent and 4.4 percent respectively.
Retail
Adidas, Puma Warn Of Coronavirus Hit to China Business
The German sportswear brands make almost a third of their sales in Asia, which is also a key sourcing hub.
Adidas, Puma Warn Of Coronavirus Hit to China Business
The German sportswear brands make almost a third of their sales in Asia, which is also a key sourcing hub.
The News in Brief
L’Oréal Steals French Stock Market Crown From LVMH
The cosmetics group became France’s most valuable listed company on Tuesday, the first time since 2017 that a non-luxury company has claimed the top spot at the end of a trading day.
Authentic Brands Targets Creator Economy, Eyes Public Offering
The licensor could pursue an IPO as early as the first half of next year.
Vogue Mexico and Latin America Editor-in-Chief Karla Martinez de Salas to Step Down
The industry veteran is joining Latino-focused media platform Avance Global to establish a new lifestyle brand that will span fashion, design, travel, food, culture and entertainment.
Prada Revamps Milan Flagship to Cater to Top Clients and New Shoppers
The group is hoping the renovated eight-level complex can generate €100 million in annual revenue, chief executive Andrea Guerra told Reuters.
JD Sports Names New North America CEO, Chief Marketing Officer
The sneaker retailer is shaking up its North American leadership as it looks to reverse soft sales and an extended slump in the stock market.
Top Africa Clothes Retailer Pepkor Sinks on Earnings Outlook
Shares in the South African discount clothing retailer fell the most in more than three years, as an expansion into banking weighed on profit forecasts.
Kimberly-Clark Prepares Asset Sales to Win EU Nod for Kenvue Deal
The US consumer goods giant is preparing concessions to address EU antitrust concerns about its bid for Tylenol maker Kenvue that could help it win approval for the $40 billion deal, sources told Reuters.