Tag: Adidas AG

Business

Why golf club-maker Callaway is shifting away from the green

With a file variety of new golfers teeing off in 2020, Callaway, the maker of golf balls, golf equipment, luggage and attire, has been thriving.Callaway introduced in May first-quarter web income of $652 million, a 47% improve from a yr earlier."Callaway pre-Covid was already the primary model in sticks, I name it, which is putters, drivers and irons," mentioned Jefferies analyst Randy Konik. "They had been outpacing business progress they usually had been additionally quantity two in balls behind Titleist."Callaway has made strikes off the green as nicely. In March, the corporate accomplished its merger with golf leisure enterprise Topgolf, which mixes digital driving ranges with meals and cocktails."This can be a transformative merger. It creates an entity that does not actually replicat...
Business

gross sales up 27% regardless of lockdowns

Folks in face masks stroll in a street throughout an outbreak of the 2019-nCoV coronavirus.Artyom Ivanov | TASS by way of Getty PhotosLONDON — Adidas is extra assured about gross sales this 12 months because it notes stronger-than-expected demand for its merchandise and a "wholesome model momentum."The German sportswear retailer expects currency-neutral gross sales to rise at a "high-teens" charge this 12 months, with a "vital" acceleration already within the second quarter, the corporate stated on Friday."This acceleration will probably be fueled by an array of progressive product releases," Adidas stated in a press release. It expects main sport occasions, akin to UEFA Euro and the Copa America, may also assist the enterprise.The corporate reported internet earnings of 502 million euros ...