February 1, 2006 |
Adidas-Salomon closed the acquisition of Reebok International Ltd. and said Reebok Founder and Chief Executive Paul Fireman stepped down. The company also said the purchase would begin adding to earnings in fiscal 2007. Fireman will become an advisor to Adidas CEO Herbert Hainer, the Herzogenaurach, Germany-based company said. Adidas will keep Reebok's headquarters in Canton, Mass. Adidas bought Reebok for $59 a share, or $3.8 billion, to challenge Nike Inc.
January 26, 2006
* Reebok International Ltd. shareholders approved the company's $3.8-billion sale to Adidas-Salomon, a deal intended to help the company better compete with Nike Inc. * A federal judge set a Feb. 24 hearing date to consider a possible injunction on BlackBerry wireless e-mail service.
April 26, 2005 |
Reebok International Ltd., the No. 2 U.S. maker of athletic shoes, said first-quarter earnings rose 5.1%, helped by footwear endorsed by rap musicians. Net income climbed to $43.2 million, or 70 cents a share, from $41.1 million, or 63 cents, a year earlier, Canton, Mass.-based Reebok said. Revenue increased 11% to $925 million, boosted by the dollar's decline against the euro and the pound. Reebok shares rose 61 cents to $42.64 on the NYSE.
April 15, 2005 |
Reebok International Ltd., the second-largest U.S. maker of athletic shoes, has withdrawn a commercial featuring rapper 50 Cent from British television after viewers complained that it glamorized guns. More than 50 TV viewers complained that the commercial "glamorizes and perhaps glorifies gun culture," Advertising Standards Authority spokeswoman Donna Mitchell said Thursday. In the commercial, 50 Cent counts from one to nine in reference to having been shot nine times.
October 24, 2003 |
Reebok won the latest skirmish in the ever-growing basketball shoe wars Thursday, signing Yao Ming of the Houston Rockets to a multiyear endorsement deal and taking him away from rival Nike. What's more, the contract opens the door to a largely untapped but potentially lucrative market in China, Yao's homeland, and the rest of Asia for Reebok. Yao's contract with Nike, which he signed while still in China, expired after last season.
February 15, 2003 |
Los Angeles Lakers guard Kobe Bryant has three world championship rings, the league record for outside scoring and a string of 40-point games studded with moves that have left defenders flat-footed. But on Friday, Bryant came up against a different kind of opponent: bottom-line economics. In the midst of intense negotiations over a new shoe endorsement deal, Reebok International Ltd. said it concluded that the NBA all-star wasn't worth the millions he wanted.