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ADIDAS AG

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Real-time Estimate Quote. Real-time Estimate Tradegate - 01/27 04:31:44 am
241.575 EUR   -0.67%
01/26Adidas to Hire Over 2,800 New Employees in 2022
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01/26Adidas to Hire More Than 2,800 New Employees This Year
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01/24ADIDAS AG : Release of a capital market information
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No more 9-5: Puma hopes hybrid work will power U.S. growth

11/04/2021 | 08:08am EST
FILE PHOTO: FILE PHOTO: The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna

BERLIN (Reuters) - Puma is offering U.S. staff flexibility over when they work and a pandemic-driven redesign of its new North American headquarters, hoping to attract the people the German sportswear company needs to keep up its rapid expansion.

Puma, which is growing faster than rivals Nike and Adidas, is putting a big focus on the U.S. market: it relaunched basketball products in 2018, opened a new flagship store in New York and invested in a new distribution centre.

"We're pretty bullish on the opportunities here in North America and we feel like we've emerged stronger through difficult times," Bob Philion, president of Puma's North America business, told Reuters.

The Americas is Puma's fastest-growing region this year, with sales up 31% in the third quarter to account for 37% of the total, helped by a shift to more casual dressing and more people taking up sport during the pandemic.

Puma officially opened its new North America headquarters in Somerville, Massachusetts, on Thursday. It includes a roof deck, a fitness centre and a room for visiting children, bringing together 450 employees from two separate offices.

The move was in the planning for four years but was delayed by six months as Puma made changes in response to the way the pandemic has shifted working practices.

Puma increased spacing and added partitions and touchless fixtures as well as created more rooms where people can join video calls with colleagues working remotely.

"I feel very fortunate to have a new home to welcome people back. People want to collaborate again," Philion said. "What we've been lacking on Zoom calls and Teams calls is that collaboration, that energy, that creativity."

Puma hopes the new facilities and a combination of office and remote work will help the company attract staff, with Philion noting it was tough to attract workers, particularly in distribution and retail.

"It's more competitive now than it's ever been. People through COVID are making some life decisions," he said.

"Flexibility is key. At the end of the day our employees understand that we're a product marketing company. We have tangible things that we touch and feel: shoes and apparel."

Puma wants its staff to be in the office three days a week - although that will depend on teams. Meetings are only scheduled from 10 a.m. until 4 p.m. to give people a chance to start earlier or later to avoid the rush hour.

"We don't want people sitting in traffic," Philion said.

(Reporting by Emma Thomasson; Editing by Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG -0.78% 241.15 Delayed Quote.-3.95%
PUMA SE -1.28% 90.82 Delayed Quote.-14.40%
All news about ADIDAS AG
01/26Adidas to Hire Over 2,800 New Employees in 2022
MT
01/26Adidas to Hire More Than 2,800 New Employees This Year
DJ
01/24ADIDAS AG : Release of a capital market information
EQ
01/21ADIDAS : JP Morgan sticks Neutral
MD
01/21ADIDAS : Goldman Sachs gives a Buy rating
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01/20Puma tops quarterly forecasts despite supply chain problems
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01/19ADIDAS : Buy rating from Goldman Sachs
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01/17ADIDAS AG : Release of a capital market information
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01/12UK Economy Set to Grow 0.2% in 1Q as Omicron Wave Ebbs
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Analyst Recommendations on ADIDAS AG
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Financials
Sales 2021 21 381 M 23 990 M 23 990 M
Net income 2021 1 648 M 1 850 M 1 850 M
Net cash 2021 387 M 435 M 435 M
P/E ratio 2021 30,5x
Yield 2021 1,34%
Capitalization 46 370 M 52 319 M 52 029 M
EV / Sales 2021 2,15x
EV / Sales 2022 1,94x
Nbr of Employees 54 722
Free-Float -
Chart ADIDAS AG
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adidas AG Technical Analysis Chart | ADS | DE000A1EWWW0 | MarketScreener
Technical analysis trends ADIDAS AG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Last Close Price 243,20 €
Average target price 316,39 €
Spread / Average Target 30,1%
EPS Revisions
Managers and Directors
Kasper Bo R°rsted Chief Executive Officer
Harm Ohlmeyer Chief Financial Officer & Labor Director
Thomas Hermann Rabe Chairman-Supervisory Board
Martin Shankland Managing Director-Emerging Markets
Roland Nosko Member-Supervisory Board
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