Singles Day, the yearly bargain festival of Chinese web shop Alibaba, has once again become a great commercial success. A total of 498 billion yuan (almost 64 billion euros) worth of goods were traded.
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Thanks to strong online growth, Adidas was able to limit the loss of sales to 7% in the third quarter. Exchange rate effects weighed heavily on the results. Concerning its fourth quarter, the company remains very cautious.
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Several sources report that German sports goods giant Adidas is considering a sale of its sister brand Reebok. That brand was severely hit by the corona crisis.
Adidas suffered a big Covid-19 blow in its second quarter, leading to a net loss of 295 million euros. However, the German sportswear brand is positive as demand has seen a huge recovery since lockdowns ended.
Adidas has seen its profits evaporate in its first quarter, plummeting by 97 %. Turnover fell by 19 %, but a drop twice as big is expected for the second quarter.
German sports giant Adidas has been granted a three billion euro loan from the German government, in order to enable it to survive the impact of the coronavirus. In return, however, the company will temporarily not be allowed to pay dividends.
German sports fashion rivals Adidas and Puma have issued sales and profit warnings due to the corona virus. Adidas fears about a billion euros in turnover and half a billion in profits may go up in smoke as the pandemic rages over the world, causing shops to close and sports events to get cancelled.
A new report links 83 large companies, including Adidas, H&M and Volkswagen, to forced labour in China. It says tens of thousands of Uyghurs are used as forced labourers at supply companies.
Sports giant Adidas has seen its turnover further increase in the third quarter. Although net profit fell by 2%, the company is sticking by its outlook.
Ahold Delhaize has appointed Natalie Knight its new Chief Financial Officer. She will succeed Jeff Carr in March 2020, extending her career beyond dairy producer Arla Foods and Adidas.
German shoe giant Adidas has suffered a painful defeat against its much smaller Belgian competitor Patrick (owned by the Shoe Branding company), as the EU General Court decided three stripes in any direction are famous not enough to constitute a protected trademark.
German sports brand Adidas is a strong believer in circular economy: the company has been selling shoes made out of recycled plastic since 2017 and hopes to sell 11 million pairs of those this year.
German sports brand Adidas has had a victorious quarter because of the World Cup football. Total turnover rose 4 % to 5.26 billion euro, a hefty 3.2 billion coming from shoe sales. Operational profit climbed 17 % to 592 million euro.
German sportswear giant Adidas says it wants to strengthen its bond with small-scale retailers after they claimed Adidas is too aggressive in pushing its web shop, especially as they feel the brand is favouring large international chains as well.
Adidas wants to focus more in online sales and that is why it will shut down a large number of stores worldwide.
German sports brand Adidas achieved a 16 % turnover increase in 2017, if exchange rates had remained stable. Profit nearly grew a third and the company forecast a 10 % growth for 2018.