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Adidas is betting big on a fashion trend that has also lifted smaller German sportswear brand Puma as consumers shift away from hard-core providers of athletic gear like Under Armour Inc. Adidass new leader said he plans to over-invest in the U.S., where the company trails Nike,and speed up its supply chain to sell more goods at full price. Adidas also plans to quadruple online sales to 4 billion euros ($4.2 billion) by 2020 anddivest itself of the CCM hockey business as it focuses on its namesake label and the Reebok brand. Taking a page from the playbook of fast-fashion companies like Zara owner Inditex SA, Adidas is working with suppliers to increase purchasing flexibility, Rorsted said in an interview. Instead of ordering a set quantity of shoes or clothing for an entire season, which can result in shortages or overstocking, the company is shifting toward buying limited numbers at the outset and then responding to demand. The move to accelerate procurement affects product lines representing about 25 percent of sales last year, the CEO said,which the company wants to increase to half by 2020. Travel with us, drive with us, eat with us. Get our weekly Pursuits newsletter. Sign Up The company said profit should rise 20 percent to 22 percent a year on average through 2020, compared with a previous projection for growth of about 15 percent, lifting its shares as much as 9.2 percent. But the new strategy could carry risks if tastes shift -- as Puma previously found.
For the original version including any supplementary images or video, visit https://www.bloomberg.com/news/articles/2017-03-08/adidas-s-new-ceo-raises-2020-forecast-plans-to-sell-hockey-unit
It also meant he and his allies became increasingly isolated, with their views and interventions ignored by the mainstream media and most of their colleagues on the Labour benches. Blair's dire warnings that Labour would face "annihilation" if it elected Corbyn during the leadership contest were met by Corbyn with a suggestion that his predecessor as Labour leader should probably face trial for war crimes over his role in the Iraq war. Image copyright PA Image caption Corbyn has been a stalwart of the British left for more than 40 years Image copyright PA Image caption Campaigning for a united Ireland in 1984 Corbyn and his comrades - unlike their modernising colleagues they would use the term without irony - routinely attached themselves to any cause that felt like it would strike a blow against British and American "imperialism" or the Israeli state. Internationalist in outlook, they would proclaim solidarity with socialist campaigns and governments in places like Cuba, Chile, Nicaragua, El Salvador and attack US policies that, in Corbyn's view, enslaved the Latin American world. He incurred the wrath of the Labour leadership early on his career when he invited two former IRA prisoners to speak at Westminster, two weeks after the Brighton bomb that had nearly killed Margaret Thatcher and her cabinet. Later on it would be his willingness to share platforms with representatives of Hamas and Hezbollah that would put him at the centre of controversy. When challenged, he insists he does not share their views but that peace will never be achieved without talking to all sides. Rock star status He may have been largely sidelined in the House of Commons, respected but too much of a known quantity to have an impact, but Corbyn's stature and profile outside Parliament continued to grow. He chaired the Stop the War Coalition and became a leading figure in the anti-austerity movement, which began to attract large crowds of young activists eager for something to believe in and to take the fight to then Prime Minister David Cameron. Still, no one gave Corbyn a prayer when he entered the contest to succeed Ed Miliband as Labour leader, with bookmakers offering a price of 200-1. Image copyright Reuters Image caption Mr Corbyn's relationship with the media has been a turbulent one His elevation to rock star status, among the crowds who flocked to his leadership campaign meetings, must have been as much of a shock to Corbyn as it was to his opponents, but he never showed it.
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