German sportswear giant Adidas raised its 2021 sales outlook on Friday, saying it expects strong demand for new products despite ongoing lockdowns in Europe, supply chain challenges and political tensions.
On June 1, Hubert Hinterseher will take over from Michael Lämmermann, the German sport group’s CFO since 2013. Arne Freundt, currently head of EMEA, has instead been promoted to the post of chief commercial officer.
E-tail giant Zalando swung to a profit in Q1 and is expecting general merchandise value growth of up to 36% this financial year after a stellar start to 2021 in which GMV grew as much as 55.6% to €3.2 billion.
Sporting goods maker Adidas has launched the sale of its Reebok brand in an auction which risks being affected by a political row over possible forced labour in China's western Xinjiang region, three sources said.
Under Armour Inc raised its expectations for annual profit and sales on Tuesday, after reporting a 35% jump in revenue as the reopening of economies in the US and Asia fueled demand for its sports shoes and apparel.
Fast-growing sports label Castore has expanded its McLaren deal to the car marque's Forumula One team. The brand is adding the important new element to its link-up after the launch of their first collection last year.
Online sales accounted for nearly a fifth of total retail turnover last year as lockdowns to combat the spread of the coronavirus pandemic fuelled a boom in e-commerce, a United Nations study released on Monday showed.