adidas AG

adidas AG engages in the design, distribution, and marketing of athletic and sporting lifestyle products. It operates through the following geographical segments: EMEA, North America, Greater China, Asia-Pacific, Latin America, and Other Businesses. The Other Businesses segment includes the activities of the Y-3 label and other subordinated businesses. The company was founded by Adolf Dassler in 1920 and is headquartered in Herzogenaurach, Germany.

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FRANKFURT, Germany (AP) — Adidas is still wrestling with how to dispose of 1.2 billion euros ($1.3 billion) worth of Yeezy shoes after its breakup with the rapper formerly known as Kanye West, forcing the German sportswear maker into a big loss at the end of last year and expectations of more pain ahead.

Adidas still doesn't know what to do with $1.3 billion worth of Yeezy shoes

Adidas has revealed plans for a huge cut to its dividend as it battles the costly fallout from its failed partnership with rapper and fashion designer Kanye West.

Adidas warns of first loss in decades after split with Kanye West - as it decides what to do with mountain of unsold Yeezy trainers

Kasper Rorsted the former chief executive officer of Adidas is set to receive €16mln following his departure in November, according to the company. Some €12mln will be paid out to the boss in the form of severance pay, as Rorsted's departure came four years before his contract expired.

Former Adidas boss to receive €16mln following departure

Adidas has warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it may have to write off the entire range of Yeezy-branded clothing and sneakers.

Yeezy fallout could push Adidas into its first annual loss in 31 years

The German sportswear giant has a mountain of unsold Yeezy shoes leftover from its partnership with Ye.

Adidas Slashes Dividend Amid Fallout From Kanye West Breakup

The company is writing off €700 million ($739 million) from unsold inventory. It terminated its partnership with rapper Ye last year, which is proving costly.

Adidas Posts a Big Loss. The Yeezy Split Is Proving a Drag.

Adidas (ETR: ADS) share price pulled back on Wednesday amid rising concerns about the company. The firm slashed its dividend and warned of a tough road ahead toward recovery.

Adidas share price is crashing: Is it the new Credit Suisse?

The sportswear giant has warned it'll take a $1.3 billion hit to earnings after severing ties with Ye (Kanye West) and the Yeezy sneaker partnership.

Adidas will slash its dividends as the split with Kanye West's Yeezy looks set to wipe out $1.3 billion in earnings

Adidas on Wednesday reported a substantial fourth-quarter loss and slashed its dividend, following the costly termination of its partnership with Kanye West's Yeezy brand in October.

Adidas warns of first annual loss in three decades and cuts dividend after Ye split

The company on Wednesday said it "continues to review future options" for the Yeezy products in its warehouses and storage rooms.

Adidas hasn't decided whether it's going to take a $526 million hit from not selling remaining Yeezys

A slump in China and a mountain of unsold products are among the challenges facing Adidas after a bruising 2022 in which it dumped its chief executive and ended a partnership with rapper Kanye West.

Adidas Slashes Dividend as Problems Mount

Adidas AG said Wednesday that it has extended the contract of finance chief Harm Ohlmeyer for a further three years and that two members of the executive board are to step down.

Adidas extends CFO's contract, while two other executives are on the way out

Adidas reiterates forecast for 10% revenue decline in 2023, will propose significantly lower dividend amid Yeezy fallout

Adidas will slash its 2022 dividend, it said Wednesday, warning a split with rapper and fashion designer Kanye West could push it to its first annual loss in three decades this year.

Adidas to slash dividend after Kanye West split

Marimekko Corporation, Press release, 7 March 2023 at 1.00 p.m. EET

Marimekko and adidas announce a new limited-edition collaboration collection

The company warned that it faces a more than $500 million hit to its operating profit this year.

Adidas could ‘literally burn' $500M in unsold ‘Yeezy' apparel: report

"A year of two halves" for European sportswear companies Adidas and JD Sports, according to JP Morgan. Analysts at the bank said the first half would be characterised by “material gross margin pressure", while a stronger second half would be supported by an accelerated recovery in China.

JD Sports and Adidas set for a 'year of two halves', says JP Morgan

VP of the adidas /// studio, Erika Wykes-Sneyd, elaborated during an exclusive interview at NFT Paris.

Metaverse Fashion Week 2.0 Line-Up Revealed With A Global First From Adidas

Adidas' new deal with Major League Soccer will run through 2030.

Adidas renews deal with Major League Soccer

The sportswear giant issued a profit warning earlier this month, saying it'd lose $1.3 billion from the end of its Yeezy partnership.

Adidas has its debt rating slashed by S&P as termination of Kanye West partnership batters earnings

S&P Global Ratings downgraded its long- and short-term ratings on Adidas AG ADS, -2.39% ADS1, -2.13% ADDYY, -4.85% on Tuesday to A+/A-1 from A-/A-2, citing deteriorating credit metrics in the wave of the termination of its partnership with Kanye West's Yeezy. The outlook is negative, meaning the credit agency may downgrade again in the medium term.

Adidas long- and short-term credit ratings downgraded by S&P on concerns after Yeezy partnership ended

Peloton

YUM! Brands

Adidas (OTCMKTS: ADDYY ) said in early February that its operating profit in 2023 would be 500 million Euros ($534.2 million) less than in 2022 due to its breakup with Kanye West. The company's profit warning was its fourth since last July.

3 Salacious Celebrities Putting These Stocks on Thin Ice

NIKE

Taiwan's Pou Chen Corp , the world's largest maker of branded sports footwear, plans to cut around 6,000 jobs at its Ho Chi Minh City plant in Vietnam due to weak demand, two local officials familiar with the company's plans said on Tuesday.

Nike, Adidas shoe supplier Pou Chen to slash 6,000 jobs in Vietnam -sources

LOS ANGELES, CA / ACCESSWIRE / February 21, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of adidas AG (OTCQX:ADDYY)(OTCQX:ADDDF) ("adidas" or "the Company") for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

SHAREHOLDER ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against adidas AG and Encourages Investors with Losses to Contact the Firm

Los Angeles, California--(Newsfile Corp. - February 17, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of adidas AG ("adidas" or "the Company") (OTCQX: ADDYY) (OTCQX: ADDDF) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

INVESTIGATION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against adidas AG and Encourages Investors with Losses to Contact the Firm

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