Latest news with #AdidasAG
Mint
20 hours ago
- Automotive
- Mint
European Stocks Set for Weekly Gain on Trade Optimism With US
European stocks were set for a weekly gain on optimism that the European Union and the US can clinch some form of trade agreement in the coming weeks. The Stoxx Europe 600 Index rose 0.9% by 3:45 p.m. in London, with automakers and consumer products stocks outperforming. Sportswear companies Adidas AG and Puma SE rose after US peer Nike Inc.'s fourth-quarter revenue beat expectations and it said a yearlong sales decline is starting to ease. Bloomberg reported that European Commission President Ursula von der Leyen told EU leaders behind closed doors she was confident a deal with the US could be reached before the deadline to avoid an economically damaging escalation. Sentiment was also supported by comments from US Commerce Secretary Howard Lutnick, who said the US and China had finalized a trade understanding reached last month in Geneva. China said it has further confirmed details of a trade framework with Washington. The main European regional index is on track for a 7% advance in the first half of the year, outperforming US peers. European stock funds are set for their second-largest annual inflow ever, with investors pouring $46 billion into the region so far in 2025, Bank of America Corp. said, citing EPFR Global data. As the first half of the year draws to a close, traders will now likely seek a fresh catalyst to extend the rally. A positive outcome to the trade negotiations with the US could offer that, though von der Leyen has said the European Union is ready for all eventualities, including a breakdown in talks. Meanwhile, inflation edged up in France and Spain but the rise won't be enough to concern European Central Bank officials, who are optimistic their 2% target will be met sustainably this year. Among other individual movers, Knorr-Bremse AG fell 2.9% after Citigroup Inc. and JPMorgan Chase & Co. downgraded the rating of the German braking systems manufacturer. Schneider Electric SE shares gained 5.8% after the electrical equipment firm reiterated its full-year guidance on a pre-close analyst call, which Oddo BHF described as 'reassuring.' For more on equity markets: You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here. With assistance from Michael Msika, Sabrina Nelson Garcinuno and Sagarika Jaisinghani. This article was generated from an automated news agency feed without modifications to text.
Mint
20 hours ago
- Automotive
- Mint
European Stocks Post Best Week in Six on Trade Optimism With US
(Bloomberg) -- European stocks posted their biggest weekly gain since mid-May on optimism that the European Union and the US can clinch some form of trade agreement in the coming weeks. The Stoxx Europe 600 Index rose 1.1% by the close, with automakers and consumer products stocks outperforming. It advanced 1.3% for the week, the most in six weeks. Sportswear companies Adidas AG and Puma SE rose after US peer Nike Inc.'s fourth-quarter revenue beat expectations and it said a yearlong sales decline is starting to ease. Bloomberg reported that European Commission President Ursula von der Leyen told EU leaders behind closed doors she was confident a deal with the US could be reached before the deadline to avoid an economically damaging escalation. Sentiment was also supported by comments from US Commerce Secretary Howard Lutnick, who said the US and China had finalized a trade understanding reached last month in Geneva. China said it has further confirmed details of a trade framework with Washington. 'Just like with China, more negotiations mean that the odds of a worst-case scenario diminish,' said Karen Georges, an equity fund manager at Ecofi. 'It doesn't put an end to uncertainty though.' The main European regional index is on track for a 7% advance in the first half of the year, outperforming US peers. European stock funds are set for their second-largest annual inflow ever, with investors pouring $46 billion into the region so far in 2025, Bank of America Corp. said, citing EPFR Global data. As the first half of the year draws to a close, traders will now likely seek a fresh catalyst to extend the rally. A positive outcome to the trade negotiations with the US could offer that, though von der Leyen has said the European Union is ready for all eventualities, including a breakdown in talks. Meanwhile, inflation edged up in France and Spain but the rise won't be enough to concern European Central Bank officials, who are optimistic their 2% target will be met sustainably this year. Among other individual movers, Knorr-Bremse AG fell 2.2% after Citigroup Inc. and JPMorgan Chase & Co. downgraded the rating of the German braking systems manufacturer. Schneider Electric SE shares gained 6.5% after the electrical equipment firm reiterated its full-year guidance on a pre-close analyst call, which Oddo BHF described as 'reassuring.' For more on equity markets: You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here. --With assistance from Michael Msika, Sabrina Nelson Garcinuno and Sagarika Jaisinghani. More stories like this are available on
Forbes
28-05-2025
- Business
- Forbes
Adidas Admits Data Breach Following Third-Party Attack
Adidas shoes in store window. Adidas AG is a German sports apparel manufacturer and parent company ... More of the Adidas Group. Adidas is once again in the cybersecurity spotlight. This time the breach came through a side door. Attackers infiltrated a third-party customer service provider and accessed the contact information of Adidas customers, as reported by Bleeping Computer. This incident highlights a growing trend: hackers are increasingly targeting vendors to bypass the more robust defenses of global brands. Adidas confirmed that names, email addresses and phone numbers of customers who contacted support were exposed. No payment or password data was compromised, but the information is a potential goldmine for phishing and social engineering attempts. The company has begun notifying affected users and has reported the breach to data protection regulators and law enforcement, as required by law. This is not Adidas' first data security incident. In 2018, the company suffered a breach affecting millions of U.S. customers. Adidas disclosed separate incidents in Turkey and South Korea, both involving third-party customer service providers and exposing similar personal data. Cybercriminals have shifted tactics. Instead of attacking a company's main network, they look for poorly guarded side doors. Third-party vendors often lack the robust security measures of the companies they serve, making them attractive targets. Key factors fueling this trend include: Verizon's 2025 Data Breach Investigations Report found that 30 percent of breaches last year involved external service providers, raising ongoing concerns around vendor risk management and security oversight. Forward-thinking retailers are adopting new strategies to reduce third-party risk. Consider these best practices: The Adidas breach is not an isolated event. It is a warning for the entire retail sector. As hackers become more sophisticated, companies must treat third-party risk as a top priority, not just a compliance issue. Key takeaways for business leaders: For businesses, remember that your security is only as strong as your weakest partner. The companies that thrive will be those that treat every link in their supply chain as a potential point of failure and act accordingly.
Bloomberg
23-05-2025
- Business
- Bloomberg
Adidas Says Consumer Data Stolen From External Service Provider
Adidas AG said consumer data was stolen from a third-party customer service provider and that it's informing potentially affected people and law-enforcement authorities. The breach mainly consisted of contact information relating to consumers who had contacted the German company's customer service help desk in the past, Adidas said in a statement on its website. The data didn't contain passwords, credit cards or any other payment-related information, the company said.
Business of Fashion
29-04-2025
- Business
- Business of Fashion
Adidas Says Trump Tariffs ‘Put a Stop' to Boost in Targets
Adidas AG held off from boosting its financial guidance for the year on concern over US tariffs, which will raise prices in the world's biggest sports market and could upend the German brand's momentum. Ordinarily, Adidas would have lifted its outlook for the year after generating better-than-expected first-quarter profits, it said Tuesday. But uncertainty around US President Donald Trump's tariffs 'put a stop to this,' Adidas said. Higher tariffs will eventually cause price increases in the US, 'but it is currently impossible to quantify these or to conclude what impact this could have on the consumer demand for our products,' Chief Executive Bjoern Gulden said in a statement. Adidas shares were little changed in early German trading, and are down 8.2 percent this year, a better performance than rivals Nike Inc. and Puma SE. Adidas is still benefiting from a two-year hot streak for classic sneaker models like the Samba and Gazelle, which fuelled the surprisingly robust earnings the company reported last week. Gulden has said that buzz is helping Adidas pull in new customers for apparel and performance sports gear and take market share from industry leader Nike. The company is also trying to extend the trend into other sneaker models, including the thin-soled Tokyo and Taekwondo. Investors are assessing whether the German brand can keep up the momentum in the face of US tariffs and growing economic uncertainty. Questions include if its wholesale partners, especially in the US, are trimming their orders at all and if the retro shoe craze is showing signs of cooling. Adidas's first-quarter sales exceeded analyst estimates in every market except North America, where it faced the largest impact of the phasing out of the Yeezy business from the defunct partnership with the rapper Ye, Piral Dadhania, an analyst at RBC Capital Markets, said in a note. 'Adidas is executing well in a tough consumer environment and delivering amongst the highest revenue and earnings growth across our coverage,' Dadhania said. While Adidas doesn't ship many shoes or apparel from China to the US, it's heavily reliant on production in countries like Vietnam and Indonesia, which received high tariffs in Trump's original announcement. Those levies have since been paused while the US negotiates with countries over trade. Adidas 'currently cannot produce almost any of our products in the US,' it said. Still, it's trying 'to assure that our US retail partners, and our US consumers will get the Adidas product they want and to the best possible price.' In March, Adidas said it expected to generate operating profit of €1.7 billion ($1.94 billion) to €1.8 billion this year — an outlook that disappointed investors at the time. It also forecast currency-neutral sales to grow at a high-single-digit rate. The trade war has clouded the view. 'We therefore stick to our original outlook but admit that there are uncertainties that could put negative pressure on this later in the year,' Gulden said. By Tim Loh Learn more: Exclusive: Inside Adidas' Running Strategy The company's new supershoe for elite runners, the Adizero Adios Pro Evo 2, has arrived, and with a revamped running portfolio, Adidas aims to get more casual runners in its sneakers, too.
