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Adidas Warns of a Tough Year Ahead

CEO says consumer sentiment is “not great”

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Courtesy of Adidas

Adidas (Herzogenaurach, Germany) announced a 2024 forecast which fell below analyst expectations. In the aftermath of the announcement, shares fell more than 5 percent, according to Reuters.

The forecast was, in part, based on limited profits from sales of the remaining Yeezy shoes after the company’s split from Kanye West.  

“We’re trying to be humble and down-to-earth, and then rather surprise you positively than negatively,” Adidas CEO Bjorn Gulden said on a call to analysts, reported by Reuters. “Consumer sentiment around the world is, of course, not great. It’s not like people are lining up everywhere to buy product.”

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