Fashion
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.
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The coronavirus crisis hit Nike hard, with the sportswear brand suffering an unexpected net loss and a 38 % drop in sales in the last quarter. The reason for the net loss is the expensiveness of e-commerce, apparently.
Puma has seen its profits fall by nearly 62 % in the first quarter, while its revenue only fell by 1.3 %. E-commerce managed to save part of the sports brand's performance, but it looks like worse is yet to come.
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.
The coronavirus, and a new strategy with fewer Latin-American wholesalers, have forced Nike third quarter net profit down by 23 % (December to February). Turnover did go up 5 %, but the sports retailer fears a steep decline in the next quarter.
American sports brand Nike had a strong second quarter, in which its sales and profits rose sharply. The brand has improved in all regions, with China as its main driver of growth.
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.
German sports brand Puma has had an excellent quarter, as both turnover and profit grew in double digits. The company is revising its full-year forecast upwards.
Sports brand Puma and Amazon have launched a joint leisurewear label called 'Care Of', which will be exclusively for sale through Amazon's marketplace.
General
French sports retailer Decathlon is introducing registerless shopping in its Dutch stores, through a mobile scanning app that allows customers to scan and pay for their items while shopping, eliminating the need for checkout queues.
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.
Reebok, sponsor of the Ultimate Fighting Championship, has released a clothing line with the name of the popular Irish fighter Conor McGregor. That is confusing, Dutch fashion chain McGregor complains.
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.
In its past fiscal year, German sports brand Puma surpassed the four billion euro turnover milestone for the first time ever. That was thanks to a 16 % turnover growth compared to the year before.
Now that Frank Dassler has left German sports brand Adidas, it signals the end of the Dassler family’s reign. He was Rudi Dassler’s grandson, the man who founded competitor Puma.
