Adidas Beats Nike in Court, Ralph Lauren Ends Its Rugby Brand: Consumer Biz Update
Adidas (ADDYY.PK) beats Nike (NYSE:NKE) in a German court, in a decision that will permit it to resume selling Primekit shoes, as Nike’s temporary injunction which blocked sales in that country over allegations of patent infringement was reversed.
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Shares of Sturm, Ruger & Company (NYSE:RGR) and Smith & Wesson Holding Corporation (NASDAQ:SWHC) are zooming Wednesday after the re-election of President Obama. Although Benchmark believes that underlying long-term organic growth in the firearms sector will continue, it also expects “political” buying from worries that gun laws could now become more restrictive. In reality, no new gun regulations have been put in place thus far in Obama’s first term.
Polo Ralph Lauren Corporation (NYSE:RL) says that it will shut down its iconic Rugby brand in order to concentrate upon accessories from here on out. Rugby stores will thus be closed and a website devoted to that brand will be removed.