Adidas Divest The US Business And Sell Mitchell & Ness

Later this month decided to sell American golf.

After TaylorMade-Adidas Golf, on Friday, May 27th, the German sports and sporting goods group Adidas AG ADSG.DE (Adidas) announced that it would strip off another US sports brand Mitchell & Ness.

According to the German giant's statement, the paction will bring the group a one-time income of tens of millions of euros, and the paction is expected to be completed in the two quarter, taking over the private Juggernaut Capital Partners entities.

The Adidas AG Adidas group said it would be used in the group's innovation project "Creating the New".

Herbert Hainer, chief executive of the outgoing Adidas AG Adidas group, said the sale of Mitchell & Ness would make the group more focused on the core profitable business.

Mitchell & Ness, headquartered in Philadelphia, Pennsylvania, is famous for its famous clothing brands, especially those made of ball caps. The brand has NBA, NFL, NHL, MLB's clothing and hat production authorization.

Adidas AG

The group has just recently released the sponsorship contract with the Premier League Chelsea Football Club Chelsea football club. The group has received some compensation and has raised its annual profit forecast for the third time in less than three months.

According to market estimates, the amount of compensation should be no less than 50 million euros, and the penalty will be recorded in the two quarter. For this reason, the group's annual growth rate of net profit for the whole year will be greatly raised from 15%-18% to 25%, and net profit is expected to reach 900 million euros, which was expected to be 8.3-8.5 billion euros.

The latest operating profit margin is expected to be 7%, which was expected to be 6.6%-7.0%.

Over the past two years, with the whole world

Once again, Adidas AG, Adidas group has been making great stride forward.

According to the no fashion Chinese network (micro signal: nofashioncn) data, as of the first quarter of March 31, 2016, Adidas AG, Adidas Group continued to operate net profit rose 37.6% to 350 million euros, operating profit of 490 million euros, an increase of 35.2% over the same period last year 363 million, and the operating profit margin also increased 140 basis points to 10.3%.

Sales growth of 16.8% was driven by the strong sales of NMD and the strong recovery of the US market. The fixed exchange rate increased by 22%. Net sales rose to 4 billion 769 million euros from 4 billion 83 million euros a year ago. This is the highest quarterly sales in the group.

Adidas AG (ADSG.DE), Adidas group, reported a 115.65 decline of 0.34% euros on Friday. Its performance has been outstanding this year, and has risen by more than 28% so far, up nearly 33% in December.