Tag: $Adidas

Germany’s Adidas (ADSGn.DE), on Tuesday raised its operating profit guidance for the full year, saying it successfully mitigated part of the extra costs caused by higher U.S. tariffs.

Shares of Adidas fell Wednesday after the German sportswear giant flagged a double-digit million euro hit from U.S. tariffs in the second quarter and warned that current import levies will push up the cost of its U.S. goods.

Sportswear giant Adidas on Tuesday said that U.S. President Donald Trump’s tariffs would result in price hikes for all its U.S. products.

Prices of Nike Jordan and Adidas Samba sneakers are likely to rise in the U.S. after President Donald Trump imposed a raft of new tariffs on Vietnam, China, and Indonesia, key manufacturers of sportswear and apparel.

Adidas said it expected sales growth to slow this year and forecast lower-than-expected operating profit, even as Germany’s biggest sportswear group set out its ambition to be the leading brand in most markets worldwide.

Adidas plans to cut as many as 500 jobs in a bid to simplify its business, a person familiar with the matter confirmed to CNBC on Thursday.

Adidas reported what it said were better than expected preliminary fourth-quarter results on Tuesday, with strong sales and profitability for the important holiday shopping period, sealing a successful turnaround year.

Adidas saw strong growth in Greater China in the third quarter, while sales in North America excluding Yeezy shoes were up on the year thanks to improving brand image, the company said on Tuesday.

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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