The German sportswear company's revenue is no longer on track for growth in the fourth quarter, predicting a single-digit percentage decline.
The German sportswear company's revenue is no longer on track for growth in the fourth quarter, predicting a single-digit percentage decline.
The company will decide in the coming months whether to proceed with a sales process, said a person familiar with the matter.
The company will decide in the coming months whether to proceed with a sales process, said a person familiar with the matter.
Kering sold its stake in the German sportswear company for approximately $772 million.
Kering sold its stake in the German sportswear company for approximately $772 million.
Second-quarter sales of €3.58 billion ($4.25 billion) were above analysts’ estimate of €3.24 billion.
Second-quarter sales of €3.58 billion ($4.25 billion) were above analysts’ estimate of €3.24 billion.
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Rorsted, who has led the German sportswear retailer since 2016, will remain in the role until July 31, 2026.
Rorsted, who has led the German sportswear retailer since 2016, will remain in the role until July 31, 2026.
The German sportswear brand saw its sales drop 30.7 percent to $975.34 million in the second quarter.
The German sportswear brand saw its sales drop 30.7 percent to $975.34 million in the second quarter.
The German sportswear brand now expects second-quarter sales for the Greater China region to be around the same level as last year.
The German sportswear brand now expects second-quarter sales for the Greater China region to be around the same level as last year.
The sports retailer expects all markets to recover by the end of the year and for growth to return in 2021.
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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First-quarter operating profit fell to €65 million, well short of the €263 million expected by analysts.
First-quarter operating profit fell to €65 million, well short of the €263 million expected by analysts.
The sportswear company said staff will work half of their usual hours but will still be paid their full salary.
The sportswear company said staff will work half of their usual hours but will still be paid their full salary.
Shares in Adidas and Puma, already pummelled in the last few weeks, declined 6 percent and 4.4 percent respectively.
Shares in Adidas and Puma, already pummelled in the last few weeks, declined 6 percent and 4.4 percent respectively.
The German sportswear brands make almost a third of their sales in Asia, which is also a key sourcing hub.
The German sportswear brands make almost a third of their sales in Asia, which is also a key sourcing hub.
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