News

Adidas said it would invest $20 million to support Black communities after facing rising pressure from employees to address racism

Adidas says it will invest $US20 million into Black American communities over the next four years, a move that comes after reports said employees pushed the sportswear brand to increase its efforts in handling racism. The initiatives include investment into a basketball platform for underserved communities, a curriculum that teaches […]
Adidas said it would invest $20 million to support Black communities after facing rising pressure from employees to address racism
Markets

Adidas sales plunge 85% in China as coronavirus ravages demand

Adidas is seeing its sales suffer due to the Wuhan coronavirus in Greater China. The German sportswear giant’s sales in the region are down 85% since January 25, compared with the same period last year. “We have been experiencing a material negative impact from the coronavirus outbreak on our operations […]
Adidas sales plunge 85% in China as coronavirus ravages demand
News

Under Armour is facing a perfect storm of issues between accounting investigations, coronavirus weighing on sales, and weak demand in North America

Under Armour is struggling. On Tuesday morning, the sportswear company reported results for the fourth quarter and the 2019 fiscal year that fell short of analyst expectations. In November, Under Armour announced that its accounting practices were being investigated by the US Securities and Exchange Commission and the US Department […]
Under Armour is facing a perfect storm of issues between accounting investigations, coronavirus weighing on sales, and weak demand in North America
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