Tag: $Adidas

German sportswear maker Adidas is increasing its full-year earnings guidance after a better than expected second quarter, it said on Tuesday, in its second upgrade this year.

Adidas shares dropped 4% on Monday after the German sportswear brand said it was investigating allegations of corruption in China after receiving an anonymous letter.

Shares of Adidas jumped 8.2% on Wednesday after the company unexpectedly raised its full-year guidance and reported a year-on-year profit increase in the first quarter.

German sportswear giant Adidas posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the U.S. struggle with high inventories.

German sportswear maker Adidas expects operating profit to nearly double to about 500 million euros ($542.3 million) this year after the company’s break-up with Kanye West and the discontinuation of its Yeezy business.

 Adidas shares rose over 4% on Thursday with traders citing good news from a call with analysts ahead of the German sportswear maker’s full-year results due in March.

Adidas shares climbed 4% during early trade in Europe on Wednesday.

Adidas said Monday initial sales of Yeezy stock following the termination of its partnership with rapper Ye have led it to cut its 2023 loss forecast to €450 million from €700 million.

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