Adidas Says CEO Kasper Rorsted To Hand Over Position During Course Of 2023

Adidas Q4 Loss Narrows, Sees Weak Sales In North America; Stock Down

German sportswear giant adidas AG Wednesday reported a narrower net loss in its fourth quarter amid weak revenues. In fiscal 2023, the company slipped to a loss, reportedly the first loss in 30 years, mainly reflecting Yeezy impact. Further, the company announced stable dividend, and said it sees improved operating profit and sales in fiscal 2024, while currency-neutral sales in North America...

RTTNews | 314 days ago

Adidas Flooded With Orders Worth 508 Mln Euros For First Batch Of Unsold Yeezy Shoes: FT

German sportswear brand Adidas AG (ADDDF.PK) was flooded with orders worth 508 million euros or about $568 million, for 4 million pairs in the first batch of online sales of unsold Yeezy shoes despite severing ties with rapper Kanye West, now known as Ye, the Financial Times reported on Monday.

RTTNews | 547 days ago

Adidas Sued By Investors Over Kanye West's Yeezy Deal

Sportswear giant Adidas has been sued by investors over its now terminated partnership with Yeezy brand, owned by American designer and rapper Kanye West, reports said. West is not party to the lawsuit, which was filed over allegations that the German firm was aware of his problematic behaviour years before it ended their partnership. They also alleged that the company failed to limit financial...

RTTNews | 631 days ago

Adidas To Withdraw Objection To Black Lives Matter Trademark

German sportswear company Adidas AG said Wednesday it will withdraw its request to block the application by the Black Lives Matter movement to trademark a yellow three-stripe design similar to Adidas' branding. This move by Adidas comes just 48 hours after it had filed an objection to the U.S. Patent and Trademark Office against the use of the three parallel stripes design.

RTTNews | 664 days ago

Adidas Slips To Q4 Loss, Cuts Dividend, Warns On FY23; Stock Down

Shares of adidas AG were losing around 2 percent in the morning trading in Germany after the sports sneaker and apparel maker on Wednesday reported a loss in its fourth quarter, compared to last year's profit, hurt by charges mainly related to the termination of the Yeezy partnership. Further, the company trimmed its dividend, and said it projects an operating loss and weak sales in fiscal 2023.

RTTNews | 685 days ago

Adidas Q3 Profit Down; Cuts FY22 Outlook

German sports sneaker and apparel maker Adidas AG on Wednesday reported sharply lower profit in its third quarter, despite higher net sales. The company also trimmed its fiscal 2022 forecast, mainly reflecting the impact from the recent termination of adidas Yeezy partnership.

RTTNews | 804 days ago

Adidas Ends Partnership With Ye Immediately; Stock Down

German sports sneaker and apparel maker Adidas AG announced Tuesday that it terminated its partnership with American rapper Kanye West, who now goes by the name Ye, with immediate effect, citing his recent offensive behaviour. Adidas expects the decision to result in a short-term negative impact of up to 250 million euros on its fiscal 2022 net income due to the high seasonality.

RTTNews | 819 days ago

Adidas Plans To End Partnership With Kanye West: Report

German sports sneaker and apparel maker Adidas AG plans to end its partnership with Kanye West citing recent offensive behaviour from the American rapper, Bloomberg News reported citing people familiar with the matter. Following the news, Adidas shares were losing around 4 percent in the morning trading in Germany.

RTTNews | 819 days ago

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