Streetbeat News

ADDYY

Adidas AG

https://www.adidas-group.com/

CEO

Kasper Rorsted

Industry

Hosiery and Sock Mills

Open

117.81

Mkt cap

42B

Volume

5.7K

High

117.81

P/E Ratio

102.86

52-wk high

134.39

Low

116.63

Div yield

0.00

52-wk low

88.03

Adidas AG (OTC:ADDYY) is investigating serious bribery allegations in its China operations following a whistleblower's claims. The accusations involve high-ranking officials and significant embezzlement from the company's marketing budget. Despite the allegations, no staff members have been suspended, and the company has engaged external legal counsel to investigate.

Portfolio Pulse from Shivani Kumaresan

June 17, 2024 | 9:44 am

Lululemon Athletica Inc. (NASDAQ:LULU) surpassed Wall Street’s earnings and revenue estimates for its first fiscal quarter but issued a weak second quarter outlook due to a slowdown in the Americas. Despite this, Lululemon's stock jumped 10% in extended trading. The company faces challenges with inventory and growth in its largest market but expects improvements in the second half of the year. Nike (NYSE: NKE) and Adidas AG (OTC: ADDYY) are also mentioned as competitors facing their own challenges.

Portfolio Pulse from Upwallstreet

June 06, 2024 | 1:54 pm

The article details the journey of the Espinosa brothers in creating En Volá, a digital cannabis content platform that has gained significant traction in the Spanish-speaking world. The platform has collaborated with major brands like Adidas and Crocs, reflecting the growing acceptance of cannabis culture. En Volá has become a key player in the cannabis industry, offering educational and entertaining content while also venturing into the business of importing and distributing cannabis paraphernalia.

Portfolio Pulse from Javier Hasse

June 02, 2024 | 6:26 pm

Nike has won a partial victory in its trademark battle with Adidas, allowing it to use three stripes on some of its trouser designs in Germany. The court ruling partially overturns a previous decision that had favored Adidas entirely. Nike's stock has lost over 13% in the last 12 months, but shares were trading slightly higher following the news.

Portfolio Pulse from Shivani Kumaresan

May 28, 2024 | 6:43 pm

A napkin that played a crucial role in Lionel Messi's signing with FC Barcelona sold for $964,450 at auction. The napkin, which lacks Messi's signature, is considered one of the most important pieces of soccer memorabilia. Messi's influence extends to companies like Apple, Adidas, and Anheuser-Busch InBev, which have seen boosts from their associations with the soccer star.

Portfolio Pulse from Chris Katje

May 22, 2024 | 9:07 pm

Adidas projects its revenue to grow at a mid- to high-single-digit rate by FY24, with an expected operating profit of €700 million.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:55 am

adidas reported a significant increase in Q1 earnings to $1.04 per share, up from a loss of $(0.10) YoY, with sales rising 4.88% to $5.94B from $5.66B YoY.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:52 am

Hibbett, Inc. (NASDAQ:HIBB) shares surged 18% in premarket trading after announcing JD Sports Fashion PLC (OTC:JDSPY) will acquire it for $87.50 per share, a 21% premium over its April 22, 2024, closing price, valuing Hibbett at approximately $1.1 billion. The acquisition is expected to close in the second half of 2024, with Hibbett maintaining its headquarters in Birmingham, Alabama. The deal is seen as a strategic expansion for JD Sports, combining two leading athletic retail brands in the U.S.

Portfolio Pulse from Nabaparna Bhattacharya

April 23, 2024 | 10:27 am

Adidas AG (OTC:ADDYY) (OTC:ADDDF) raised its 2024 profit outlook after a better than expected Q1, signaling recovery from its first annual loss in over 30 years and struggles in North America. CEO Bjorn Gulden's efforts, including inventory reduction, are showing positive signs. Meanwhile, Nike Inc (NYSE:NKE) faces challenges in innovation due to remote work but is implementing a restructuring plan to save $2 billion over three years.

Portfolio Pulse from Upwallstreet

April 17, 2024 | 5:31 pm

Adidas reported its Q1 2024 revenue at EUR 5.46 billion with a gross margin of 51.2%.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:46 pm

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