Adidas AG shares lost traction in German trading here on Friday after the maker of athletic footwear and apparel said full-year sales in 2023 would likely decline sharply from 2022 levels. Adidas' new CEO cited as a reason the end of the company's previous partnership with the controversial Kanye West, which could cost Adidas around €1.2. billion in full-year sales.
More from Global Equity
Alibaba Shares Skyrocket in Hong Kong on Restructuring Plan
The company will split into six separate entities which will be run under separate management and free to list independently.
Jack Ma Breaks Exile to Appear Inside Mainland China
Popping up to discuss ChatGPT at a school he established, Alibaba's figurehead waves the 'patriotic' altruistic white flag.
Deutsche Bank Shares Are on the Ropes: Here's What the Charts Tell Us
Traders are acting like traders -- sell first and ask questions later.
World's Biggest Unicorn Investor Is Acting Soggy
Softbank's weakness is another sign of slowing economic conditions and restrictive monetary conditions.
How to Trade China's E-commerce PDD Holdings Now
Previously know as Pinduoduo, weak consumer spending has plagued the stock.