Adidas (ADDYY) Shares rose on Thursday after the footwear and sportswear titan unveiled a deal to sell Reebok to Authentic Brands, a heavyweight in brand management, for up to € 2.1 billion (2 , $ 5 billion).

The majority of payment will be made in cash at closing and the remainder will be deferred and conditional. Closing is expected in the first quarter.

“Adidas intends to share the majority of the cash proceeds receivable at closing with its shareholders”, the Herzogenaurach company in Germany said in a statement.

Adidas’ U.S. certificates of deposit recently traded at $ 183.70, up 1.6%, and have firmed 3% in the past six months.

Adidas began the formal process of divesting Reebok in February 2021. The sale will not affect Adidas’ financial outlook for the current year or the company’s financial ambitions for 2025, which it described in March.

After buying Reebok in 2006, Adidas struggled to gain traction with the brand. Reebok had flourished in the 1980s and 1990s, especially its Pump shoes.

Morningstar analyst David Swartz estimates the fair value at $ 122 for Adidas. After the company’s earnings report last week, “We plan to increase our estimate of fair value from a percentage to single digits, but we think [the] stocks as overvalued, ”he said.

Maven (MVEN) , parent company of TheStreet.com, operates Sports Illustrated under license from Authentic Brands. Authentic in New York also manages brands such as JC Penney, Forever 21, Brooks Brothers, and Eddie Bauer.

Authentic Brands filed an initial public offering last month. Its adjusted profit before interest, taxes, depreciation and amortization in 2020 rose 6% to $ 373 million. Revenue for the year totaled $ 489 million, up 2% from 2019.

Manchester United’s new away kit for the 2021/22 season has been on sale at an adidas store in New Jersey.

After launching the all-new home kit last week, United fans are eager to see the rest of the stripes their team will be wearing this season.

That wait is apparently over after an eagle-eyed fan in the United States claimed to have spotted the new tape for sale in a store across the pond, according to The Kitman.

The kit is said to take inspiration from United’s away strip between 1991 and 1993, with a white base and a blue diagonal geometric pattern throughout.

There is a crew neck and cuffs on the sleeves which are white, while the adidas logo on the front and stripes on the sleeves are in traditional Manchester United red.

There is a crew neck and cuffs on the sleeves which are white, while the adidas logo on the front and stripes on the sleeves are in traditional Manchester United red.

The club crest is also redesigned to be all red to match the adidas logo and stripes, while the blue design is throughout the back and front of the kit.

The color of the shorts and socks is currently unknown, but is expected to be blue and white respectively.

The kit is expected to be available for purchase later this month, with preseason games against Queens Park Rangers, Brentford FC, Preston North End and Everton ahead of the Premier League opener. League against Leeds United on August 14.

It will be the first away kit with the club’s new sponsor, Team Viewer, sporting the front.

The German IT company was announced as a new replacement sponsor Chevrolet in March after signing a five-year contract with the club.

Want an exclusive preview of United pre-season, both in your inbox and in your mailbox? Go here to learn more and secure your copy.

Bollywood superstar and youth icon Ranveer Singh is a cultural phenomenon – an actor, a true fashion icon, the face of Indian hip hop, an entrepreneurial artist – he is a true disruptor and a true blue game changer in the field of entertainment in India.

A rank outsider, self-taught in the entertainment industry, Ranveer has made a name for himself in Indian film history over the course of a decade with his incredible era-defining performances.

Ranveer only sees the doors open – then walks right through them. In India, a prominent man in the movies is colloquially referred to as a “hero”, and that comes with expectations – a “hero”, in this sense, represents contemporary culture and echoes the spirit of the youth. Ranveer is that hero today. His mark of fearlessness and ferocity resonates deeply with the country’s youth who yearn to rise above their fate, who dreams of breaking glass ceilings on the strength of their own merit.

His unique, quirky and totally unconventional public persona broke stereotypes not only to challenge cultural expectations, but also to shape pop culture today. As a true icon of youth, he shone the spotlight of a huge nation on him and he gripped it with both hands, seeing possibilities of being a shining example for society, of redefining heroism and to inspire a nation to speak out without fear. and / or inhibition.

Her endorsement of fluid gender fashion influenced an entire generation and awakened a spirit of cultural liberation in the country.

He’s also a music icon – a pioneer of Indian hip hop who starred in the box office blockbuster “Gully Boy” and has now created an artist collective IncInk – a platform that helps talented musicians across the country to shine on the world stage.

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Shares of Adidas were upgraded to buy on hold by analysts at Jefferies on Monday, citing optimism about the sporting goods retailer’s five-year plan.

The German sportswear giant presented its five-year strategy to 2025 last month after predicting a strong recovery in sales in 2021. The plan focuses on online sales and

Adidas

The “direct-to-consumer” (DTC) activity to increase sales and bring profitability closer to that of its rival

Nike
,

while conquering market share.

bCODE, a multi-brand wellness and lifestyle fashion retailer, has announced the opening of its Adidas store in Nigeria (Lagos and Abuja). The brand took advantage of its social networks to announce the news.

Now we have a one-stop-shop for everything Adidas-related which includes shoes and sneakers, clothing and accessories, thanks to bCODE. What makes things more exciting is that you can now buy Adidas from the revamped official site

Commonly referred to as the three-stripe brand, Adidas is the second-largest revenue generating sports company in the world.

bCODE hope you enjoy your shopping experience, both in store and on the young, colorful and vibrant website while you “Be the best of yourself “.

Remember that last year the bCODE site (shopbcode.com) was relaunched with the intention of bringing together all your favorite brands (Skechers, Adidas and Havaianas) in one place. Now, with the Adidas merchandise added to the website, it’s a pleasure to say that this intention is fully met.

bCODE has 14 stores in Lagos, Abuja, Port-Harcourt and Ghana. Follow bCODE on social media for the latest updates.

Instagram: @ShopTheBCode,

Twitter: @ShopTheBCode

Facebook: code B

Believe me, the fashion and wellness lifestyle has never been so exhilarating!

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adidas recently opened the doors of a new flagship store on Carnaby Street in London. In addition to housing the most exclusive and latest adidas Originals merchandise, the store creates a space for London creatives to come together, with a cultural aesthetic and design true to the heart of Soho.

With creativity at the forefront of London, the Carnaby Street store offers facilities inspired and designed by local designers, including unique furniture and artwork, as well as a studio for the use of its consumers. Reinforcing the brand’s commitment to sustainable development, the store was created with BREEAM certified materials.

To support the look and feel of the concept, as well as to provide high-quality sound for background music and frequent event performance, the adidas creative team hired Pioneer Pro Audio to provide a system. tailor-made audio meeting its retro styling requirements.

Pioneer Pro Audio’s workshop cosmetically modified a pair of its XPRS-10 full-range active speakers to resemble the typical 1970s style. While encasing the speakers in a new “cabinet,” the modification allowed still easy rear panel access so users can take full advantage of XPRS plug-and-play settings.

In addition to the speakers, the store also chose two professional DJ multiplayer Pioneer DJ CDJ2000NXS2, a DJM-900NXS2 mixer and a PLX-1000 turntable. Working in conjunction with the XPRS, this allows the store to stage DJ sets with authentic club-quality sound.

Victoria Schneyer, Director of Retail Concepts at adidas, commented: “The new flagship from adidas Originals is a great expression of our Originals brand, bringing creativity and sustainability to commerce. To celebrate adidas Originals’ connection to music culture, we created an in-store experience by taking visual cues from local record stores. To complete the design, Pioneer Pro Audio has created a unique set of ‘vintage’ inspired speakers, providing us with fantastic audio quality for store visitors. “

Adidas (OTC: ADDYY) the stock fell recently after the German athletic footwear and apparel maker released its third quarter results.

Its revenue fell 7% year-on-year (3% in constant currency) to 5.96 billion euros ($ 7.05 billion), marking its third consecutive quarter of declining sales as it struggling to recover from the pandemic. Its revenue fell 20% year-over-year (18% in constant currencies) in the first nine months of 2020.

Adidas’ net income from continuing operations fell 10% year-on-year to € 578 million ($ 685 million) in the third quarter and plunged 83% to € 291 million ($ 344 million) during the first nine months.

Those headlines initially sound terrible, but could Adidas stock still be worth buying if we look past its near-term pandemic headwinds?

A strong sequential recovery

Adidas’ year-over-year growth rates look dismal, but its revenue actually grew 66% sequentially from the previous quarter. Its gross margin also remained stable, despite persistent pressure from promotions and currency headwinds, and its operating profit turned positive again with a double-digit operating margin:

Source: Adidas.

Adidas also reduced inventory by 10% sequentially in the third quarter, but focused on maintaining “profitable and disciplined wholesale” instead of widespread clearance sales.

As a result, Adidas maintained higher gross margins than Under protection (NYSE: UA) (NYSE: UAA) and Nike (NYSE: NKE) throughout the crisis.

UA’s gross margin declined 140 basis points sequentially to 47.9% in the third quarter, which ended September 30, as it sharply reduced revenue throughout the pandemic. Nike’s gross margin rose 750 basis points sequentially to 44.8% in the first quarter of 2021, which ended on August 31, but it was still weighed down by large discounts and chain costs. ‘high supply.

But a second wave of infections could derail this recovery

For the fourth quarter, Adidas expects year-over-year revenue decline “low to mid single digits” in constant currency terms. Those forecasts appear stable, but Adidas also warned that the new wave of COVID-19 infections had already reduced its worldwide store open rate from 96% in late September to 93% in early November.

Image source: Adidas.

It also noted that “stricter social distancing guidelines” were having a “negative impact” on its store traffic, especially in Europe, which accounted for 29% of its sales in the third quarter. It also faces a difficult comparison with the fourth quarter of the previous year, when sales of its new UEFA Euro 2020 merchandise and the first shipments before the Chinese New Year holiday increased its total sales in China.

Although Adidas faces a difficult comparison in China, it expects the market to “return to growth” in the fourth quarter. This would be good news for the Asia-Pacific region, which accounted for 31% of its revenue in the third quarter.

Assuming countries do not implement any major lockdowns and its store open rate remains above 90% without a further traffic slowdown, Adidas expects to generate operating profit of $ 100-200 million. euros ($ 118 million to $ 170 million) in the fourth quarter, compared to operating income of € 245 million a year ago, as it focuses on “disciplined” sales rather than aggressive promotions.

Adidas is also reportedly considering a sale of Reebok, which generated 7% of its sales in the last quarter and remains much weaker than its main brand. The sale of Reebok could streamline its business and increase profits.

Beyond the COVID-19 crisis

Adidas’ revenue and profits will likely decline to double digits this year, and it’s hard to say whether a second wave of COVID-19 infections will disrupt its recovery next year.

However, Adidas and Nike have grown at comparable rates in recent years, and both companies easily outperformed Under Armor. Adidas’ gross and operating margins remain broadly stable and its growth is expected to stabilize and accelerate again after the end of the pandemic.

This is probably why Adidas stock remains up around 3% this year, even as its revenue and profits have fallen over the past three quarters. Adidas stock has already grown by around 250% in the past five years, but its future remains bright. Investors who buy this stock today should prepare for a few more difficult quarters, but they should reap bigger profits in the long run.

Australia’s largest adidas store opened at Harbor Town Premium Outlets (HTPO) in Adelaide due to growing demand for high-end brands in the center and the local popularity of the iconic, well-known sportswear brand. for its distinctive three-stripe design.

Located at HTPO Adelaide for six years, adidas has outgrown its existing store and moved to a larger 891m2 site located on Tapleys Hill Road at Adelaide Airport at the southern end of the center.

HTPO Adelaide center manager Tania Rucioch said strong business results, including sales of the center up 9% in July compared to the same month last year, reflecting growing demand from top domestic and international brands. range at greatly reduced prices.

“Adidas designs sportswear for and with athletes of all kinds and is certainly one of our most popular brands. Adidas sales at HTPO Adelaide increased 21% in July, compared to the same period in 2019, ”said Rucioch.

“During the two week move and transition to the new store, we were inundated with daily calls from customers to find out when they could shop at adidas again,” she revealed. “It’s no surprise that adidas hit their weekly target in the first two days of trading.” Rucioch noted that the expansion of the adidas store created 14 new retail positions.

Previous independent research has indicated that nearly half of HTPO Adelaide shoppers visit the center and shop at adidas, which offers athletic clothing and footwear as well as a line of the company’s Originals fashion products.

“We work very hard to deliver what South Australian outlet shoppers are looking for and offer year round savings of up to 70% on their favorite premium local and international brands,” Rucioch added. “The expansion of adidas consolidates HTPO Adelaide as the sports retail capital of South Australia.”

Lewis Land Group has stated that it is committed to ensuring that HTPO Adelaide remains a premium point-of-sale offering in South Australia and continues to evolve in its efforts to “provide the shopping experience in full ultimate air “.

With over 120 outlet stores, popular premium brands also include Under Armor, Tommy Hilfiger, Calvin Klein, Polo Ralph Lauren, Peter Alexander, Witchery, Review, RM Williams, Mimco, Wittner, Nine West, Seed and Lorna. Jane.