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Search resuls for: "Adidas"


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New York CNN —Adidas’ Samba and Gazelle sneakers might look like they’re from another decade, but they’re the hottest shoes on sale right now. Buoyed by the strength of those shoes, plus higher demand for its running, basketball and soccer shoes, Adidas registered a net profit of about $182 million through the first three months of 2024 — a sharp reversal from the same time period last year when it reported a $26 million loss. In particular, sales in Europe soared 14%, and Adidas also had strong demand for its products in China and Latin America. “The markets are still volatile and not easy, but we feel we are making progress everywhere,” said Adidas CEO Bjørn Gulden in a release. Last year, Adidas slumped to a rare annual loss, hit by the fallout from its costly break-up with rapper Ye, sluggish sales in North America and a huge tax bill.
Persons: Ye, , Bjørn Gulden, Organizations: New, New York CNN, Adidas, , Copa America, Rival Nike, German, soccer teams Locations: New York, German, Europe, China, Latin America, North America
What is divestment? And does it work?
  + stars: | 2024-04-28 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +8 min
From Princeton University in New Jersey to the University of Southern California in Los Angeles, the same chant can be heard: “Disclose! The specifics of student protesters’ divestment demands vary in scope from school to school. Other students, like those at Cornell University and Yale, are asking their schools to stop investing in weapons manufacturers. Other common threads include demanding universities disclose their investments, sever academic ties with Israeli universities and support a ceasefire in Gaza. Proponents for divestment counter that its value lies in raising awareness and stigmatizing partnerships with targeted regimes or industries.
Persons: , ” Israel, Witold Henisz, Henisz, , Nicholas Dirks, ” Dirks, Dirks, “ They’ll, Anna Cooban, Michelle Bowman, Eli Lilly, Estee Lauder, Jerome Powell Organizations: New, New York CNN, Palestinian, Princeton University, University of Southern, Columbia University Apartheid, Columbia, Cornell University and Yale, Research, The Wharton School, University of Pennsylvania, CNN, University of California, Columbia’s Faculty of Arts and Sciences, Federal Reserve, European Central Bank, Dallas Fed, Samsung, AMD, Starbucks, Benz Group, Volkswagen, PayPal, adidas, Diamondback Energy, Restaurant Brands, Pinterest, Caesars Entertainment, PMI, Conference Board, Mastercard, Qualcomm, Pfizer, Marriott, eBay, US Commerce Department, Apple, Novo Nordisk, Shell, ConocoPhillips, Cigna, Universal Music Group, Hershey, US Labor Department Locations: New York, New Jersey, University of Southern California, Los Angeles, Columbia, Palestine, Israel, Gaza, South Africa, Berkeley, United States, Europe, DoorDash
Kanye West appears to have confirmed reports that he is launching an adult entertainment studio. The rapper, now known as Ye, shared a now-deleted post about his new venture: "Yeezy Porn." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementYe, formerly known as Kanye West, appears to have confirmed reports that he's set to launch an adult entertainment site. The six-second clip featured a voice directing followers to "go to yeezy.com," while the screen read: "Yeezy Porn Is Cumming," Rolling Stone reported.
Persons: Kanye, Ye, He's, Stormy Daniels, , Cumming, Mike Moz, I've, it's, Moz Organizations: Service, Vixen Media, TMZ, Business, Adidas Locations: Chicago
In this article FL Follow your favorite stocks CREATE FREE ACCOUNTA Foot Locker, Inc. store. Even the Striper uniform, the iconic black and white striped outfit worn by Foot Locker's store associates, is getting a refresh, Frank Bracken, Foot Locker's chief commercial officer, told CNBC in an interview. A Foot Locker, Inc. store. A Foot Locker, Inc. store. Courtesy of: Foot Locker, Inc.An overall view of a Foot Locker, Inc. store.
Persons: Foot Locker's, Frank Bracken, Foot, Bracken, Mary Dillon, Dillon, She's, Foot Locker, Locker Organizations: Inc, CNBC, Summer, Nike, Adidas Locations: New Jersey, Manhattan, Wayne, New York City, Paris, Melbourne, Delhi
(Photo by May James/SOPA Images/LightRocket via Getty Images)JD Sports Fashion has proposed to buy American athletic fashion retailer Hibbett Inc for about $1.08 billion, the companies said on Tuesday, as Britain's biggest sportswear retailer looks to expand across the southeastern U.S. The deal comes as shares in athletic clothing retailers come under pressure globally after weak outlooks from sports apparel makers such as Nike and Puma. It will pay $87.50 per Hibbett share in cash, representing a premium of about 20% to the U.S. firm's last closing price. JD Sports shares, which have fallen more than 20% so far this year, were up 6% by 0900 GMT. The deal is expected to add to the British firm's earnings in the first full year of ownership, with cost savings expected to be at least $25 million, JD said.
Persons: May James, Foot Locker, Dominic Platt, JD Organizations: UNITED, Getty, Hibbett Inc, Nike, Puma, Adidas, JD Sports, Paris Olympics Locations: UNITED KINGDOM, England, premarket U.S, U.S, North America, Bury, Greater Manchester
CNN —Life must seem bleak for British Prime Minister Rishi Sunak these days. Sunak has said that he will hold a general election this year, but has yet to confirm its date. It was only voted through by MPs because it has the support of the opposition Labour Party. Anderson is a working-class former miner who is from a part of the country that traditionally votes for the opposition Labour Party. However, Anderson was suspended from the Conservative Party after making comments about the Muslim mayor of London, Sadiq Khan, that Sunak clearly believed were beyond the pale.
Persons: Rishi Sunak, Sunak, , Boris Johnson, Winston Churchill, It’s, ” Rishi Sunak, Dan Kitwood, Liz Truss, Lee Anderson, Anderson, Elon Musk, Tesla, Kirsty Wigglesworth, doesn’t, Sadiq Khan, Suella Braverman, Braverman, Johnson, Rishi, ” Sunak Organizations: CNN, British, Conservative Party, Labour Party, , Conservatives, Allies, Labour, Sunak's, SpaceX, Reuters, Conservative, , Adidas Samba Locations: Quebec, London, Rwanda
A screen displays trading information about shares of Truth Social and Trump Media & Technology Group outside the Nasdaq MarketSite in New York City on March 26, 2024. The former president is the majority shareholder in Trump Media, which trades under the initials of his name, DJT, on the Nasdaq. "The reason that people own this stock is because, in one way or another, they support Donald Trump," Rekenthaler said. The closest company comparison to Trump Media is Tesla, according to Rekenthaler. Trump Media is currently a $4 million business through social media, he said.
Persons: Donald Trump, Rekenthaler, John Rekenthaler, Tesla, Elon, Trump, FAFSA, Preston D, Cherry, who's, Oprah —, Ted Jenkin, Jenkin Organizations: Truth Social, Trump Media & Technology Group, Nasdaq, Trump Media, Morningstar, Elon Musk, Trump, Securities and Exchange Commission, Finance, Adidas, CNBC FA Council Locations: New York City, Green Bay , Wisconsin, Atlanta
Shares of Adidas jumped 6.3% on Wednesday after the company unexpectedly raised its full-year guidance and reported a year-on-year profit increase in the first quarter. Operating profit for the year is now expected to reach around 700 million euros ($745 million), Adidas said in its unscheduled trading update published late on Thursday. It had previously forecast operating profit near 500 million euros. Adidas has been selling off its Yeezy inventory since breaking ties with Ye, the rapper formerly known as Kanye West. The company also said its first-quarter operating profit rose to 336 million euros, up from 60 million in the same period of last year, according to preliminary figures.
Persons: Ye Organizations: Adidas, Kanye Locations: Novato , California, German
Because UK Prime Minister Rishi Sunak was seen wearing a pair. “In a bid to present himself as young and hip… Sunak took an eternally cool sneaker, and ruined it for everyone,” added British GQ. It’s a far cry from the public reaction another political leader received after being spotted in a pair of sneakers. Mohd Rasfan/AFP/Getty ImagesSo why aren’t Sunak’s Sambas striking the same chord? Even the most ardent sneakerheads know there is a time and a place for a gum sole, and the British public have decided on-camera at 10 Downing Street is neither.
Persons: CNN — It’s, Harry Styles, Kaia Gerber, Bella Hadid, Paul Mescal, Rihanna, it’s, Rishi Sunak, , , relatable, Michael Hogan, … Sunak, It’s, Barack Obama, Stan Smiths, Kamala Harris, Chuck Taylors, Mohd Rasfan, Obama, Bill Clinton, George W, Bush, Ronald Reagan, Harris, Kevin McCarthy, Hakeem Jeffries, Donald Trump, Trump Organizations: CNN, Adidas Sambas, UK, Conservative, British, Guardian, GQ, Obama, Sneaker Con, Downing Locations: Kuala Lumpur, Malaysia, AFP, New York, Philadelphia, American
The sports apparel giant Adidas abruptly stopped the sale of German soccer jerseys created with the player number “44” this week because the figure, when depicted in the official lettering of the uniform’s design, too closely resembled a well-known Nazi symbol. The emblem is one of dozens of Nazi symbols, phrases and gestures that are banned in Germany. The country’s soccer federation, which is responsible for the design, said Monday any similarity to the logo created by the design’s numbering was unintentional. “None of the parties involved saw any proximity to Nazi symbolism in the creation process of the jersey design,” the DFB, the German Football Association, said in a statement on X on Monday. 4” was being created in time for use in the team’s coming games.
Persons: Organizations: Adidas, SS, Schutzstaffel, Nazi, DFB, German Football Association Locations: European, Germany
Ye, the rapper formerly known as Kanye West, was sued Tuesday by a former employee who accused him of discrimination and creating a hostile work environment by calling Adolf Hitler “great,” disparaging Jews and saying that “gay people are not true Christians.”The lawsuit was filed in Los Angeles Superior Court by Trevor Phillips, who says he was hired in November 2022, around the time a series of antisemitic remarks publicly made by Ye lost the artist his major-label record deal and put his businesses in jeopardy. Phillips was initially hired to oversee “projects related to growing cotton” and other plants in an effort to make Yeezy, Ye’s fashion brand, “self-sustainable,” the lawsuit said, and then went on to work for Donda Academy, Ye’s private school in Southern California. Phillips’s lawsuit claims that Ye made antisemitic comments in front of staff members at Donda Academy, including, “the Jews are out to get me” and “the Jews are stealing all my money.” After Adidas ended its decade-long partnership with Ye over his public remarks, the lawsuit claimed, the rapper told Phillips: “The Jews are working with Adidas to freeze up my money to try and make me broke!”
Persons: Ye, Adolf Hitler “, , Trevor Phillips, Phillips, Organizations: Los Angeles Superior, Donda Academy, , Adidas Locations: Los Angeles, Southern California
People say it looks like a lightning bolt from the SS, a Nazi unit in World War II. Adidas said it's blocked fans from making jerseys with the "44," and an alternative design is being developed. AdvertisementAdidas has removed the option for fans to customize their soccer jerseys with the number "44" amid concerns that a design for the German national team resembles a Nazi symbol. Known widely as the SS, this unit was responsible for many of the war crimes and atrocities committed by Nazi Germany in World War II. DAMIEN MEYER/AFP via Getty ImagesAdidas told the BBC that the jerseys were designed by the German Football Association and weren't intentionally made to look like the SS logo.
Persons: it's, , Adolf Hitler, Michael König, DAMIEN MEYER, weren't Organizations: German, soccer, SS, Nazi, Adidas, Service, German Football Association, Schutzstaffel, Getty, BBC, Union of European Football Associations, Nike, Business Locations: Nazi Germany, Germany, Nazi SS, Ploeuc, Saint, France, Herzogenaurach
CNN —German soccer authorities will redesign the number “4” on the country’s national jerseys amid claims it resembles a logo used by Nazi paramilitary units. The DFB unveiled Germany’s new uniforms, which will be worn by both men’s and women’s teams, in late March. Less than two weeks ago, the DFB announced that Nike will take over from Adidas as the German soccer team’s official shirt supplier from 2027. Adidas has produced the country’s jerseys since the 1950s, during which time the men’s team (either as Germany or West Germany) has claimed four World Cups. The logo was so widely used at the time that some German typewriters were produced with a stylized “SS” key.
Persons: Oliver Bruggen, Adolph Hitler, Walter Heck, Hitler, Guido von Organizations: CNN, Nazi, German Football Association, DFB, Schutzstaffel, UEFA, Adidas, Reuters, France, UEFA European, Nike, soccer, SS Locations: Germany, West Germany, Austrian
AdvertisementFive talent managers working with YouTube creators told BI their clients have yet to use YouTube's affiliate program or that they weren't familiar with the program. Some creators, like Kristen McGowan, have started using YouTube's affiliate program alongside other tools. She hasn't used YouTube's affiliate tools yet because she's concerned about tying all her revenue to a single platform, she said. AdvertisementOne other creator told BI they'd love to use YouTube's affiliate program, but they weren't eligible. She said she hopes YouTube will eventually lower the requirements for the affiliate program so that smaller creators can join.
Persons: , it's, influencer Kelly Anne Smith, Kristen McGowan, McGowan, Amanda Golka, wouldn't, Gigi Robinson Organizations: Service, YouTube, Business, Amazon, CitiBank, BI, Adidas, Samsung, Walmart, Entertainment, Partner Locations: VidIQ
The sports apparel brand will instead focus on the Air Max Dn and a new running shoe. The changes come after analysts called Nike's shoe lineup "stale" last year. The Air lineup — a "double-digit billion dollar business," per Donahue — includes shoes that will be worn by athletes competing at this summer's Paris Olympics. AdvertisementDonahue was wearing the new Air Max Dns during the earnings call. Nike is also working on a next-generation version of the running shoe Pegasus, the Pegasus 41, that is slated to be released later this spring.
Persons: Air Max Dn, , John Donahoe, Dn, Donahue Organizations: Nike, Air Force, Pegasus, Air, Service, Adidas, Footwear Locations: Paris, Europe, China, New York
Learn moreAmazon's Prime Day-style event called the "Big Spring Sale" is still on until March 25. Below is our style editors' guide to the 30 best Amazon clothing and shoe deals to score during the Big Spring Sale. AdvertisementTop 5 Amazon Spring Sale fashion dealsThe best Amazon Spring Sale deals on shoes and accessoriesThe Drop Square Toe Two-Strap High Heeled Sandal $32.94 $54.90 Save 40% Reviewers say that these are incredibly comfortable — and they have 4.2 stars and nearly ten thousand reviews to prove it. Shop at AmazonAdvertisementThe best Amazon Spring Sale deals on clothingPumiey Square Neck Long Sleeve Maxi Dress $31.44 $56.99 Save 45% This dress is a great dupe for the Skims dress that you've probably seen all over the internet. These compression short-shorts are on sale for half off and are great for lounging, exercise, or wearing under a mini skirt.
Persons: Calvin Klein, Steve Madden, Ava Riley, They've, Calvin Klein Women's, Calvin Klein unlined bralette, Britt, here's Organizations: Business, Amazon, Women, Adidas
For the first time ever, Amazon is hosting its Big Spring Sale to celebrate the changing of the season. While home and kitchen goods and Amazon devices are always great items to shop for, clothing and accessories are some of the very best deals on the site. To help you shop, we rounded up the 16 best deals on men's clothing, shoes, and accessories. AdvertisementTop 5 Amazon Spring Sale menswear dealsThe best Amazon Spring Sale deals on men's clothingAdvertisementThe best Amazon Spring Sale deals on men's shoes and accessoriesOLEVS Two Tone Luxury Wrist Watch $33.80 $39.77 Save 15% This watch costs less than $35 but looks like it's worth a fortune. Shop at AmazonGo Tour Men's Moccasin Driving Shoes $42.49 $49.99 Save 15% These loafers are the epitome of class.
Persons: you'll Organizations: Business, Amazon, Adidas
Business Insider asked three fashion experts to share which shoe trends are in and out for spring. Clogs and mules are easy, comfortable, and popular trends that are on the rise this season. Business Insider spoke to two fashion designers and a stylist about which shoe trends are in and out for spring. AdvertisementBallet-flat-inspired sneakers with openings at the top of the shoe and strap-like laces are coming to the forefront of high fashion, according to fashion designer Jarrah Webster. Edward Berthelot/Getty ImagesAlthough the chunky "dad shoe" silhouette was super popular this time last year, they're falling out of favor.
Persons: , you'll, Jarrah Webster, Webster, Semarah Gabrielle, It's, Claudio Lavenia, Jazmin Monét, Jeremy Moeller, Gabrielle, they're, Edward Berthelot, Monét, they'll Organizations: Service, Ballet, Adidas, Puma, Reebok
CEO Bjørn Gulden was appointed as the company was reeling after the end of its Yeezy collection. Gulden, a former athlete, refocused on Adidas' classic Samba sneaker, popular with Gen Z. AdvertisementGulden began his career playing soccer for national leagues in Germany and Norway before an injury forced him to retire. Gulden has successfully ramped up production of Adidas' Samba and Gazelle sneakers. "We currently have maybe the hottest shoe in the market … and it's the Adidas Samba," Gulden said on an earnings call last year.
Persons: Bjørn Gulden, Z, , Ye, didn't, Manuel, Manuel Neuer, Gulden, Rihanna, Jay Organizations: Adidas, Service, Kanye West, FT, German, Puma, Defamation, Business, Street Journal Locations: Germany, Norway
LONDON (AP) — A top-of-the table English Women's Soccer League game with a crowd of nearly 33,000 suffered a delayed kickoff on Friday because the teams had matching socks. Arsenal turned up at Chelsea with the same-colored white socks, forcing referee Rebecca Welch to delay the start. ”This is a massive crowd, a massive game. People make mistakes but the game does not need this and it's frustrating. Photos You Should See View All 60 ImagesWSL leader Chelsea won 3-1.
Persons: Rebecca Welch, Chelsea megastore, , Karen Carney, , Chelsea, ___ Organizations: Soccer League, Arsenal, Chelsea, Arsenal Women, Stamford Bridge, Nike, adidas, England, Sky Sports Locations: Stamford
Adidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear brand continues to sell off its remaining Yeezy inventory. Currency-neutral sales in North America are expected to decline to a mid-single-digit rate in 2024, but are projected to notch mid-single-digit growth worldwide despite persistent "macroeconomic challenges and geopolitical tensions," the company said. For the fourth quarter, the company posted an operating loss of 377 million euros. "Despite losing a lot of Yeezy revenue and a very conservative sell-in strategy, we managed to have flat revenues. We expected to have a substantial negative operating result, but achieved an operating profit of €268 million."
Persons: Ye, Bjørn Gulden, Yeezy Organizations: Adidas, Kanye, adidas Locations: North America, U.S
European markets are heading for a mixed open Wednesday as investors digested the latest U.S. inflation report. Regional markets extended gains on Tuesday after U.S. inflation figures for February showed a rise of 0.4% for the month and an increase of 3.2% from a year ago. U.S. stock futures were calm on Tuesday evening after the gains on Wall Street. Asia-Pacific markets were mixed overnight. Earnings are due from Inditex, Adidas and VW in Europe on Thursday, and data releases include euro zone industrial production figures for January.
Persons: Dow Jones Organizations: Nasdaq, Adidas, VW Locations: Asia, Pacific, Europe
Net sales of what's left of Adidas' former banner line of sneakers brought in about 750 million euros last year, compared with over 1.2 billion euros in 2022, the company reported. Of the 300 million-euro profit it earned from the sales of Yeezy shoes last year, the company said it had given away or planned to donate over 140 million euros (about $152 million). It blamed a high tax rate for ending the year with a net loss of 58 million euros, a massive turnaround from net income of 254 million euros in 2022. Looking forward, Adidas expects to make about 250 million euros in sales of the remaining Yeezy shoes this year. It said that North America was “particularly affected by the negative Yeezy impact” and that revenue there dropped 16% last year.
Persons: , it's, Ye, Philonise Floyd, George Floyd, what's, Adidas, Bjørn Organizations: — Adidas, Kanye, Adidas, Defamation League, Keeta Floyd Institute for Social Locations: Germany, North America, America, Paris
“Going forward, the company expects the tax rate to normalize again as its operating profit improves,” Adidas said in a statement. Sales in North America — the company’s second-biggest market — declined more than 16% in 2023, partly because Adidas slashed sales to wholesalers in order to reduce their high levels of inventory. The company expects its sales in the region to fall again this year, by around 5%. Globally, sales of Adidas footwear, which includes popular Samba and Gazelle sneakers, were up 4%, in contrast with a 6% fall for Adidas apparel. On a different measure of earnings, the company recorded an operating profit of €268 million ($293 million) last year.
Persons: Ye, Harm Ohlmeyer, , ” Adidas, Bjørn Gulden, Olesya Dmitracova Organizations: London CNN, Adidas Locations: North America, China
Zhong and his drinks firm Nongfu Spring, the country’s biggest maker of bottled water, are the latest targets of an army of internet zealots. WeiboThe nationalists have also highlighted the fact that prominent US investment funds, including Vanguard and BlackRock, are major shareholders of Nongfu Spring. “Taking advantage of Mr Zong’s death, a lot of slander against me and Nongfu Spring appeared on the internet. “Whether Wahaha or Nongfu Spring, we always insist on the same thing — producing good products for the people,” he said. Nongfu Spring is just the latest major target of China’s nationalists.
Persons: Hong Kong CNN — Zhong Shanshan, Zhong, Zong Qinghou, Zong, Zhong’s, , “ Zhong Shuzi, , , He’s, Mr Zong’s, ” Zhong, influencers, netizens, “ Zong, Wei Jiang, Mo Yan, Mao Zedong, Stringer, Li Ning Organizations: Hong Kong CNN, Wahaha, Danone, Weibo, , Vanguard, BlackRock, Nongfu, American, Wahaha’s, CNN, Zhejiang Daily, Communist Party, Auto, Zhejiang University of Finance, Economics, People’s Liberation Army, AFP, Getty, Nike, Adidas, United, Toyota, Honda Locations: China, Hong Kong, Beijing, American, Weibo, Nongfu, Zhejiang, Hami, China's, Xinjiang, AFP, United States, Japan
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