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...Adidas warned investors on Wednesday evening that full-year operating profit is likely to be far lower than analysts predicted as it braces for negative currency effects, weak sales in North America and...
...Adidas: The company is expected to report an operating profit of €268mn today despite the Yeezy debacle. Read up on CEO Bjørn Gulden, the “chaotic” ex-footballer revamping Adidas....
People in the US are being squeezed to such an extent that they are spending less altogether
...In the second quarter, sales in China were up 16 per cent while they fell by the same rate in North America, excluding Yeezy. In Europe, they declined by 1 per cent....
...Sales of Nike and Adidas clothing have yet to return to their 2021 peak. A recent McKinsey report showed a growing preference among Chinese consumers for local brands....
...Today, Nike’s competition goes beyond traditional rivals like Adidas as newer, more nimble shoe companies take market share....
Americans account for 14% of users but their revenue contribution will be higher
Legal battle between talent agency and Michael Kassan centres on jet flights and other spending
...In a January 2023 letter to the transportation department, Airlines for America called the rule “arbitrary and capricious” and said that, if adopted, it “will clutter web pages and mobile screens, thereby...
And more on bad buybacks
...Job moves Deutsche Bank’s head of corporate and investment banking for the Americas James Davies is leaving the group....
...In the world of sports merchandising, it’s hard to look further than the behemoths of Nike and Adidas....
...Adidas also reported falling sales in November partly because of sluggish performance in North America....
AI could be a game-changer for many of the tech giants
...Another factor driving the growth of ETFs is the active ETF boom, said Bryan Armour, director of passive strategies research for North America at Morningstar Research Services....
...“Five, seven years ago, it was Nike and Adidas that dominated in a lot of categories....
And yet, we’re struggling to care
Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
US state’s chancery court plays a key role in balancing interests of boards and investors
Also in this week’s newsletter, the Detroit Lions roar back and Real Madrid top football rich list
...He also has his eyes on new partnerships in markets such as the Americas and the Middle East. Castore has opted to remain a private company rather than list its shares....
...Amer has appointed Goldman Sachs, Bank of America, JPMorgan and Morgan Stanley as bookrunners for the IPO....
...This is a significant development as the industry wields ever growing influence over corporate America....
...But Bryan Armour, director of passive strategies research for North America at Morningstar, said that on closer inspection a slightly different picture emerged....
...According to Michael Youngworth, a convertible bond strategist at Bank of America, a slower than expected fall in inflation is also encouraging companies to issue debt sooner rather than later....
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