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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.
Sports clothing manufacturer Adidas experienced a strong third quarter. Its growth was slower than in the previous quarter, but its operational profit exceeded analysts’ expectations.
German sports brand Puma has performed very well in the third quarter once again: turnover grew 13 % and in the first nine months, the company even achieved a 16 % turnover increase.
Nike wants to trim down, saying goodbye to 2 % of its staff. It has 70,700 employees worldwide, which means about 1,400 jobs will be cut.
The first quarter of 2017 proved to be an excellent one for German sports brand Adidas. Turnover grew nearly 20 % and profit did even better with a 30 % increase, mainly thanks to strong performances in North America and China.
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