Adidas puts its golf branch up for sale

Adidas puts its golf branch up for sale

German sports brand Adidas has asked a bank to evaluate the future of its golf branch, as it does not align itself well with the company's ambitions. A sale of the branch, or at least some of its brands, seems quite likely.

Turnover up 16 % in the first semester

The largest European sports product manufacturer presented excellent results for the first half of 2015: turnover grew 16.1 % to 7.990 billion euro, although exchange rate fluctuations were partially the reason for the growth. Eliminating those fluctuations (including a strong dollar) would have led to a "mere" 7 % increase. Amidst the good results, the company is worried about the current situation in the Ukraine and Russia.

 

Net profit lagged behind a bit, with a 10.5 % increase to 385 million euro, which was partially because its gross sales margin dropped 0.4 % to 48.8 %. It also wrote off 18 million euro in goodwill for its activities in Latin America and Russia.

 

Future of golf branch up in the air

Non-strategic division are being examined at this point, like the golf branch TaylorMade. That division was part of the French Salomon acquisition in 1997, the previous owner of the brand. Unfortunately for TaylorMade, its forecasts have worsened dramatically, as sales in the United States and Europe are falling.

 

Golf was worth 913 million euro last year, 6.2 % of Adidas' total turnover. TaylorMade-adidas Golf has 4 separate brands: TaylorMade Golf, adidas Golf, Adams Golf and Ashworth and particularly the latter two are on the chopping block.

Questions or comments? Please feel free to contact the editors


FrieslandCampina sells fruit juice division

17/08/2017

Dairy company FrieslandCampina has sold its fruit juice division, which also contained the Appelsientje brand to Dutch investment firm Standard Investment.

Carlsberg's turnover increases despite lower volumes

16/08/2017

In the first half of the year, Danish beer brewer Carlsberg’s turnover grew 2 % to 31.8 billion krona (4.3 billion euro). The improves sales for its more expensive beers, like Grimbergen, contributed to this turnover increase.

Losses keep growing for HelloFresh

14/08/2017

Over the course of the first half of 2017, meal box delivery service HelloFresh has seen both its turnover and its losses grow significantly. This gives mixed messages in the preparation of its IPO, which is planned for the fall of 2017 to create room for more investments.

Italian gelato is European market leader

11/08/2017

Italian cuisine is revered all across the globe, with people often thinking of pizza and pasta. However, Italians also have an ironclad reputation when it comes to ice cream. This is also reflected in sales, as Italians are the European market leader.

Oprah Winfrey and Kraft Heinz join forces

10/08/2017

American tv star Oprah Winfrey has joined forces with Kraft Heinz to develop a range of “healthy and nutritious soups and side dishes”. The range, currently only available in the United States, should help Kraft Heinz generate turnover growth once more.

Ahold Delhaize continues to struggle in Belgium

09/08/2017

Belgian-Dutch supermarket group Ahold Delhaize has had a very good second quarter, with the company thinking last year's merger could result in lower costs than previously anticipated. On the other hand, Belgium's performance is still weak.

Back to top