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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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

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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.

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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

NEW YORK--(BUSINESS WIRE)---- $ADDYY #adidas--Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of investors of adidas AG (“adidas” or “the Company”) (OTC: ADDYY, ADDDF). adidas investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/addyy. The investigation concerns whether adidas violated federal securities laws.

Bronstein, Gewirtz & Grossman, LLC Notifies adidas AG (ADDYY; ADDDF) Investors of Investigation

New York, New York--(Newsfile Corp. - February 16, 2023) - WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of adidas AG (OTCQX: ADDYY) (OTCQX: ADDDF) resulting from allegations that adidas may have issued materially misleading business information to the investing public.

TOP RANKED ROSEN LAW FIRM Encourages adidas AG Investors to Inquire About Securities Class Action Investigation - ADDYY, ADDDF

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of adidas AG (OTC: ADDYY, ADDDF) resulting from allegations that adidas may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Adidas securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

ADDYY, ADDDF EQUITY ALERT: ROSEN, A TOP RANKED LAW FIRM, Encourages adidas AG Investors to Inquire About Securities Class Action Investigation – ADDYY, ADDDF

New CEO Bjorn Gulden kicks off his tenure with a major reset of adidas' FY23 guidance. While the size of the writedowns at Yeezy and the 'strategic review' allocation indicate conservatism, the new CEO's turnaround plans could still entail more P&L disappointments ahead.

adidas AG: Unscheduled 'Kitchen Sinking' Update

“Catastrophic” is the blunt assessment of Adidas AG's 2023 outlook, as given by Saxo Bank's Peter Garnry. Adidas' Kanye West-sized PR nightmare is the first and most obvious headwind blowing the German sportswear giant's track off course.

Adidas won't have it Yeezy in 2023, but problems extend beyond Kanye

Dire forecasts for 2023 imply Adidas expects to take a substantial sales and profit hit outside of Yeezy's impact on the company.

Adidas is facing a problem even bigger than Yeezy

Shares of Adidas fell by as much as 12.6% on Friday after the firm warned it could end the year on a loss for the first time in three decades.

Adidas says Kanye West split could cost company $1.3B as Yeezy shoes go unsold

Adidas shares plummeted Friday morning after the company said it could lose hundreds of millions of dollars this year from its failed partnership with rapper Kanye West, whose antisemitic remarks last year prompted the sportswear giant to sever ties.

Adidas Shares Plummet As Losses Loom From Stockpile Of Unsold Yeezys Left After Kanye West Breakup

Adidas' breakup with Ye could lead to a revenue loss of 1.2 billion euros (about $1.3 billion) in 2023. The sportswear company said in a Thursday (Feb.

Adidas Could Lose $1.3B in 2023 From Unsold Yeezy Inventory

The sportswear company had created Yeezy through a partnership with rapper and businessman Ye, formerly known as Kanye West, that was terminated last year following controversial and offensive stances.

Adidas' Yeezy Line Isn't Selling. The Retailer Is Ready to Take a Hit.

Adidas Stock Slumps on Expected Massive Loss if It Can't Move Yeezy Inventory

Adidas is warning that the German sportswear company could be headed to a loss in 2023 if it can't sell its inventory of Yeezy shoes. The company cut ties with rapper Ye in October.

Adidas warns of losses in aftermath of Yeezy fallout

Global sportswear manufacturer Adidas has said ending its partnership with Kanye West will hit profits by €500mln in 2023 due to unsellable stock left with the business. If Kanye West's “Yeezy' branded stock cannot be repurposed it would lower operating profits and revenue for 2023 by €500mln and €1.2bln respectively, said the German leisure group.

Adidas warns Kanye West association could cost it €500mln

German sportswear company cut ties with rapper in 2022 over his antisemitic comments

Adidas could take €1.2bn revenue hit if it writes off Kanye West's Yeezy stock

Adidas could lose around 1.2 billion euros ($1.3 billion) in revenue in 2023 if it is unable to sell its existing Yeezy stock.

Adidas could take a $1.3 billion revenue hit if it can't shift its Yeezy stock

adidas is a multinational athletic and sports brand, selling apparel, accessories and footwear. We think economic conditions will lead to falling sales and difficulty in moving inventory in 2023. We are already seeing margins contract for this reason in Q4.

adidas: Limited Upside On Weakening Economy

At its peak, the Yeezy brand generated $2 billion in sales for Adidas, through high-heat releases like the Foam RNNR, 350 V2, and 700 models.

Adidas could lose $750 million if it doesn't sell off its stockpile of Yeezys

Sneaker maker Adidas AG on Thursday said it could take a big hit to profit and sales should it decide not to sell any of the existing Yeezy products made under a collaboration with megastar Kanye West, sending shares down nearly 10% Thursday.

Adidas is still holding a lot of Kanye West's Yeezy gear, and it could cost the company more than $1 billion

Adidas shares slumped as much as 11% on Friday after the sportswear maker warned the fallout from its split with Kanye West could wipe out operating profits this year, its fourth profit warning in less than six months.

News for adidas AG Stock (ADDYY)