BoF compiles the most important professional moves of the week.
Adidas AG rose the most in more than 10 months in Frankfurt trading on a report that hedge funds including Third Point LLC may take a stake and are pushing to remove Chief Executive Officer Herbert Hainer.
Sportswear firm Adidas probably thought it had hit the marketing jackpot when Adidas-sponsored Germany beat Adidas-sponsored Argentina to win the Adidas-sponsored World Cup. But arch rival Nike may have stolen much of its soccer branding thunder.
Adidas AG, the world’s No. 2 sports gear maker, cut its profitability forecast for 2014 by 2 percentage points after first-half revenue in North America dropped 14 percent on slumping demand for golf equipment.
Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
BERLIN, Germany — U.S. sportswear maker Nike Inc, battling Adidas AG to be the world's biggest soccer brand, expects kit sales to keep growing fast after the World Cup, its chief executive was quoted as saying in a German newspaper.
BERLIN, Germany — U.S. sportswear group Nike is banking on its sponsorship of more of the world's best-known soccer stars than Adidas in its battle to overtake the German firm as the sport's top-selling brand at its World Cup this summer.
BERLIN, Germany — The long-serving chief executive of Germany's Adidas said preparing the sportswear giant for a change at the top when his contract ends in 2017 will be among his biggest priorities, Sueddeutsche Zeitung reported on Saturday.
HANOI, Vietnam — Thousands of Vietnamese set fire to factories and rampaged in industrial zones in the south of the country after protests against Chinese oil drilling in a part of the South China Sea claimed by Vietnam, officials said on Wednesday.
FUERTH, Germany — German sportswear company Adidas might take longer than expected to achieve targets for 2015 due to a combination of weak European growth, foreign exchange effects and executional mistakes, its chief executive said on Thursday.
HERZOGENAURACH, Germany — Adidas AG reported first-quarter profit that missed analysts’ estimates as the world’s second- biggest sporting-goods maker suffers from the relative strength of the euro and a drop in revenue at its golf unit.