Danone Acquires Protein Drinks Maker Huel in €1 Billion Deal
Huel, which counts actor Idris Elba and TV presenter Jonathan Ross among its investors, has agreed to be acquired by the French consumer goods group in a deal worth about $1.2 billion.
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
Qatar Investment Authority Eyes 10% Stake in Golden Goose
Qatar’s sovereign wealth fund is preparing to buy a stake in Italian sneaker maker Golden Goose, Corriere della Sera reported Saturday.
Retailers Push UK to Join US and EU Ending Shein Parcel Loophole
British retailers are pushing the UK government to end a tax loophole that has helped online giants Shein and Temu make significant inroads and gain market share.
Exclusive: Deciem to Relaunch The Chemistry Brand
The Estée Lauder-owned beauty company and The Ordinary parent will relaunch one of its original brands as it moves to rekindle its reputation for incubation.
De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.