Adidas lifts guidance and shares climb, partly thanks to the hottest shoes in Paris
Adidas shares climbed on Wednesday after the sportswear maker lifted guidance, a reprieve in the world of retail, where a steady stream of downbeat news has been dogging the sector lately.
Adidas puts Yeezy debacle to bed, increases full-year sales guidance
Adidas AG has emerged from its calamitous collaboration with controversial musician Kanye West to raise its full-year sales guidance after posting its first annual loss since 1992 earlier this year. The German sportswear giant had a long-running sneaker collaboration with West, aka Yeezy, which became an own goal in the wake of a raft of antisemitic statements by the rapper.
Adidas shares rise 5% after hiking 2024 guidance
Shares in Adidas rose on Wednesday after the company announced it would hike its full year 2024 earnings guidance. Preliminary second quarter earnings came in better than expected, the German sportswear company said late on Tuesday.
Adidas increases 2024 earnings guidance after second-quarter beat
German sportswear maker Adidas is increasing its full-year earnings guidance after better than expected second-quarter earnings, it said on Tuesday.
Adidas set to benefit as Nike struggles
The success of Adidas' low-rise multi-coloured Samba and Gazelle sneakers, along with weaker sales at rival Nike, should help the German sportswear brand deliver strong second-quarter sales and its biggest profit margin in three years.
4 Steady Shoes & Retail Apparel Stocks in a Troubled Industry
Elevated costs due to commodity cost inflation and continued reinvestments have been hurting the Shoes and Retail Apparel industry. However, product innovation, robust demand trends and digital investments should aid companies like ADDYY, SKX, CAL and WWW.
Kick Off the European Cup With These 3 Hot Sports Stocks
With the European Cup underway, it might be worth considering how sports play a role in the broader perception of companies. Some companies, despite being relatively unknown, pour significant sums of money into marketing during major sporting events.
Adidas's stock drops as sportswear seller investigates Chinese bribery scandal
Adidas shares dropped on Monday, following reports the sportswear seller has launched an investigation into claims made by a whistleblower that senior staff in its Chinese business are involved in a multimillion-euro bribery scandal.
Adidas falls on China corruption investigation
Adidas AG shares have fallen 4% after the German sportswear group said it was investigating allegations of corruption in China after receiving a letter from an anonymous whistleblower. The anonymous whistleblower letter, which briefly appeared on a Chinese social media platform, the Financial Times reported at the weekend, claims to have been written by “employees from Adidas China”.
Adidas to bring lower-cost Samba, other shoe models to market
Adidas is apparently looking to bring lower-cost shoe models to the market. The move, which applies to Samba and other shoes, was announced Thursday by the sportswear company.
