|Bid||157.96 x 37900|
|Ask||158.04 x 75600|
|Day's range||153.30 - 158.52|
|52-week range||93.40 - 190.10|
|Beta (5Y monthly)||1.05|
|PE ratio (TTM)||130.63|
|Earnings date||03 Aug 2023|
|Forward dividend & yield||0.70 (0.46%)|
|Ex-dividend date||12 May 2023|
|1y target est||161.40|
(Bloomberg) -- The stocks of small athletic shoe brands are poised to keep gaining, beating out their globally-recognized peers, even as the US faces weaker consumer spending and a potential recession, Wall Street analysts say. Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthInside the Making of Redfall, Xbox’s Latest MisfireDebt-Limit Deal Clears Congress, Ending Threat of US DefaultWall Street Banks Are Using AI to Rewire the World of FinanceHedge Funds at War
FRANKFURT (Reuters) -Adidas will start selling some of the shoes from its defunct Yeezy partnership with rapper Kanye West at the end of May, the company said on Friday, and plans to donate some of the proceeds to organisations fighting antisemitism and racism. Adidas cut ties with West, who goes by Ye, in October after he made a string of antisemitic comments in interviews and on social media. The German sportswear maker was left with Yeezy shoes worth 1.2 billion euros ($1.3 billion).
Adidas has decided to try to sell some of the Yeezy stock it has in storage after it terminated its partnership with the musician.
Adidas is to sell off €1bn-worth of Kanye West-designed trainers in a charity fire sale that is likely to spark a frenzy among trainer collectors.
FUERTH, Germany (Reuters) -Adidas will sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organisations, CEO Bjoern Gulden said on Thursday. The German sportswear giant has been in a predicament over the Yeezy stock since it cut ties with West over his anti-Semitic comments late last year, with the controversy weighing on its stock and hitting its bottom line. Millions of Yeezy brand shoes with a retail value of 1.2 billion euros ($1.3 billion) are sitting in storage after their sale was put on hold.
(Reuters) -European shares ended Friday on solid ground aided by a boost in shares of HSBC and from energy firms that tracked a rebound in oil prices, but wrapped a week packed with high-profile central bank meetings and heavy earnings with a decline. The pan-European STOXX 600 index closed 1.1% higher, with the oil & gas sector index leading gains, rising 2.7% after crude prices firmed. But falling oil prices for much of the week meant the European energy sector clocked its worst weekly performance in seven weeks.
SHANGHAI (Reuters) -A potential 500 million euro ($551 million) write-off on unsold Yeezy shoes is a headache for Adidas as it looks to implement a global turnaround - but it's not the German sportswear giant's biggest problem. That would be China, the world's second-largest sportswear market, where Adidas saw sales decline 36% in its last fiscal year. First-quarter sales in Greater China fell by 9.4% in currency-neutral terms from the same period last year, Adidas reported on Friday.
LONDON (Reuters) -Adidas reported better-than-expected quarterly results and said the Chinese market was improving, sending its shares up 8%, although its chief executive warned the group still faces a "bumpy year with disappointing numbers". Losing the highly profitable Yeezy line hit sales in the quarter by around 400 million euros ($440 million), Adidas said, mainly denting revenue across North America, Greater China and EMEA. "Adidas is managing investors' expectations," said Mamta Valechha, equity research analyst at Quilter Cheviot, which holds shares in Adidas.
Adidas (ADDYY) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Adidas is set to update investors on Friday about the unsold Yeezy shoes that have put the German sportswear giant in a predicament since it cut ties with Kanye West over his anti-Semitic comments late last year. Investors have high hopes new CEO Bjorn Gulden can turn Adidas around: the stock has gained around 65% since Nov. 4 when the former Puma CEO was first floated as a successor to Kasper Rorsted, despite Adidas warning it could make a $700 million loss this year if it writes the Yeezy shoes off entirely. Adidas has been in discussions over the footwear, including with people who "have been hurt" by West's antisemitic comments, Gulden said in March, but there are no easy fixes.
Adidas, which has come under pressure after ending its lucrative Yeezy shoe partnership with Kanye West, is trying to grab a bigger slice of the U.S. sports market, the group's regional head told the Wall Street Journal. "We want to double down on all of the things that are U.S.-centric, particularly around sport," Rupert Campbell, the company's North America president, was quoted as saying in an interview. Apart from ending the Yeezy collaboration, Adidas has also stopped its Ivy Park collaboration with pop star Beyoncé according to media reports, with the contract set to expire at the end of this year.
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Adidas has dropped a legal challenge to Black Lives Matter in a row over the political group's logo.
Sportswear company had initially said three-stripe design would create confusion with its own logo
(Reuters) -Sportswear maker Adidas AG on Wednesday reversed course 48 hours after asking the U.S. Trademark Office to reject a Black Lives Matter application for a trademark featuring three parallel stripes. "Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation's trademark application as soon as possible," the company said in a statement. Adidas rescinded its opposition without prejudice, which means it could still challenge the trademark on the same grounds in future.
Adidas has ended its fashion partnership with Beyoncé, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. If confirmed, it would mark a second high-profile split between Adidas and a celebrity partner, after the German sportswear giant ended its collaboration with Kanye West over his antisemitic comments. Adidas, which had signed a deal with Beyoncé in April 2019 to relaunch her brand Ivy Park, declined to comment.
By Scott Kanowsky
Foot Locker CEO Mary Dillon takes Yahoo Finance inside her revival plan for the sneaker retailer.
Rio Tinto's and Adidas are part of the Zacks Bull and Bear of the Day article.
Adidas (ADDYY) stock may be in store for a bearish downturn landing a Zacks Rank #5 (Strong Sell) at the moment.
Yahoo Finance Live discusses Adidas stock and the uncertainty surrounding a large quantity of unsold Yeezy merchandise.
Yahoo Finance Live’s Rachelle Akuffo discusses stock performance for Adidas.