Shares of adidas AG were losing around 2 percent in the morning trading in Germany after the sports sneaker and apparel maker on Wednesday reported a loss in its fourth quarter, compared to last year's profit, hurt by charges mainly related to the termination of the Yeezy partnership. Further, the company trimmed its dividend, and said it projects an operating loss and weak sales in fiscal 2023 mainly hit by Yeezy impact.
Bjorn Gulden, CEO of adidas, said, "2023 will be a transition year to build the base for 2024 and 2025. We need to reduce inventories and lower discounts. We can then start to build a profitable business again in 2024."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.