adidas AG (ADDYY)
- Reuters
UPDATE 1-Adidas decided not to match Nike's offer for German soccer federation, CEO says
Adidas CEO Bjorn Gulden said the German brand decided not to match Nike's offer for Germany's national soccer federation sponsorship after the U.S. company beat Adidas on its home turf last month to end its 70-year partnership with the federation. Nike outbid Adidas to become the official supplier for the German Football Association (DFB) and will supply all national teams from 2027 to 2034.
- Reuters
UPDATE 3-Samba, Gazelle shoes help drive Adidas sales while North America lags
Sales growth in Europe and China helped drive Adidas' strong first-quarter results, while North America was a weak spot as retailers remain overstocked, the German sportswear brand said on Tuesday. Adidas has been on a turnaround journey since a damaging breakup with rapper Ye ended its highly profitable Yeezy shoe line and it reported a loss for 2023, but the company's sales have recently been boosted by the popularity of its "terrace" shoes such as the Samba and Gazelle. Adidas CEO Bjorn Gulden said the lifestyle business drove sales in the first quarter, and that demand for terrace shoes was still growing.
- Fortune
Adidas built a brand on Black celebrities but workers say it fell short on its own DEI efforts
Current and former employees say Black leaders were marginalized and their early concerns about the Yeezy collaboration were dismissed.
