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Adidas designs, develops, produces, and markets athletic and leisure apparel, footwear, accessories, and sports equipment. Under its eponymous brand, it produces apparel for competitive athletics, casual activewear, and casual fashion. Adidas sells its products in more than 160 countries through about 1,900 owned retail stores, 15,000 mono-branded franchise stores, 150,000 wholesale doors, and owned e-commerce that is available in 67 countries. The company was founded in 1949 in Germany.

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Nike, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) shares are trading higher on Tuesday. The company has announced the launch of NikeSKIMS, a new brand developed in collaboration with SKIMS, for <a target="_blank" href="https://www.benzinga.com//node/43784720" rel="noreferrer noopener">the global fitness and activewear industry.</a>
Skims is an American shapewear and clothing brand <a target="_blank" href="https://skims.com/en-in/pages/about" rel="noreferrer noopener">co-founded </a>by&nbsp;Kim Kardashian.
This partnership merges Nike&#8217;s innovation and athlete insights with SKIMS&#8217; focus on body inclusivity, particularly for activewear for women. The brand intends to deliver training apparel, footwear, and accessories designed to meet the needs of women athletes worldwide.
NikeSKIMS will debut its first collection this spring in the U.S. at select retail locations and online at nike.com/NikeSKIMS.
The brand will expand globally in 2026, reaching new markets and retail locations, including wholesale partners.
The product line will be available in extended sizing, ensuring that more women athletes can benefit from the brand&#8217;s offerings.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43781179/joby-vs-archer-vs-blade-which-evtol-stock-is-ready-for-takeoff" rel="noreferrer noopener">Joby Vs. Archer Vs. Blade: Which eVTOL Stock Is Ready For Takeoff?</a>
&#8220;We&#8217;re energized by the opportunity to build a new brand and shake things up for the next generation of athletes with NikeSKIMS,&#8221; says Heidi O&#8217;Neill, President of Consumer, Product &amp; Brand, NIKE, Inc. &#8220;This partnership brings together the best of both brands and unlocks an incredible opportunity to disrupt the industry with our shared passion and commitment to innovation.&#8221;
SKIMS CEO Jens Grede echoed the sentiment, noting that the partnership combines SKIMS&#8217; commitment to body confidence with Nike&#8217;s athletic excellence, creating a new standard in activewear.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NKE stock has lost over 27% in the past year. Investors can gain exposure to the stock via&nbsp;VanEck ETF Trust VanEck Morningstar Wide Moat Value ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MVAL#BATS">MVAL</a>).
Price Action: NKE shares are trading higher by 4.07% to $76.02 at last check Tuesday. 
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Kim Kardashian's SKIMS Joins Forces With Nike For Fitness Fashion, Stock Gains

Super Bowl LIX aired on Sunday, Feb. 9, 2025 and the Philadelphia Eagles defeated the Kansas City Chiefs 40-22, ending the Chiefs' attempt to be the first three-peat <a href="https://www.benzinga.com/general/sports/25/02/43583513/eagles-fly-over-chiefs-40-22-as-super-bowl-lix-tests-potential-137-million-viewership-for-fox">Super Bowl winners.</a>
The game also featured dozens of commercials advertising products and showcasing new movies and television shows. They also featured many celebrity cameos.
What Happened: Super Bowl LIX commercials were <a href="https://www.benzinga.com/general/sports/25/02/43560232/super-bowl-lix-commercials-ai-celebs-muppets-warren-buffett-linked-brand-take-the-spotlight">priced between $7 million and $8 million</a> for a 30-second slot by Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>), which had the media rights to the game.
Fox was able to secure $8 million or more for some last-second advertising inventory ahead of Sunday's game.
This author tracked all the commercials, from the singing of the National Anthem to the final round of ads after the Eagles won the Super Bowl. View the 2024 and 2023 Super Bowl commercials <a href="https://www.benzinga.com/general/sports/24/02/37076429/super-bowl-commercials-2024-complete-list-of-super-bowl-lviii-ads-and-companies-behind-them">here </a>and <a href="https://www.benzinga.com/general/entertainment/23/02/30883140/super-bowl-commercials-2023-the-complete-list-of-super-bowl-lvii-ads-and-the-companies-behi">here</a>. 
The tweet below shows the Super Bowl LIX commercial tracking in real time during the big game.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Super Bowl LIX Commercial Thread. Feel free to retweet. After National Anthem: Misson: Impossible The Final Reckoning Trailer <a href="https://twitter.com/search?q=%24PARA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PARA</a> Sketches <a href="https://twitter.com/search?q=%24SKX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SKX</a> TurboTax <a href="https://twitter.com/search?q=%24INTU&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$INTU</a> NASCAR on Fox <a href="https://twitter.com/search?q=%24FOX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FOX</a> After Con Toss: Lilo &amp; Stitch Live Action Spot <a href="https://twitter.com/search?q=%24DIS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DIS</a> YouTubeTV <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a>
&mdash; Chris Katje (@chriskatje) <a href="https://twitter.com/chriskatje/status/1888740049883173010?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Here&#8217;s a list of the Super Bowl LIX commercials and the companies behind them.
After National Anthem:
<ul>
<li>"Mission: Impossible – The Final Reckoning" Trailer, Paramount (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDA:PARAA)</li>
<li>Skechers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>)</li>
<li>TurboTax, brand of Intuit Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>)</li>
<li>NASCAR on Fox</li>
</ul>
After Coin Toss:
<ul>
<li>Lilo &amp; Stitch live action movie teaser for Disney (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)</li>
<li>YouTube TV, brand of Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</li>
</ul>
After Kickoff, During First Quarter:
<ul>
<li>Dunkin'</li>
<li>"How to Train Your Dragon" live action movie trailer, Comcast (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>)</li>
<li>Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</li>
<li>"Thunderbolts" trailer, Marvel film from Disney</li>
<li>MSC Cruises</li>
<li>Little Caesars</li>
<li>Fox News</li>
<li>T-Mobile (NASDA:TMUS) with Starlink</li>
<li>Homes.com, brand of CoStar Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>)</li>
<li>Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with Ray-Ban</li>
<li>IndyCar racing on Fox</li>
<li>Doritos, brand of PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>)</li>
<li>Cirkul</li>
<li>Michelob Ultra, brand of Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>)</li>
</ul>
After End of First Quarter, During Second Quarter:
<ul>
<li>Disney+ and Hulu streaming platforms</li>
<li>Ritz, brand of Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)</li>
<li>Red Bull</li>
<li>Squarespace</li>
<li>"The Floor" on Fox</li>
<li>Local Ad</li>
<li>Mountain Dew Baja Blast, brand of PepsiCo</li>
<li>Instacart, brand of Maplebear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>)</li>
<li>Coors Light, brand of Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>)</li>
<li>Stand Up to Hate</li>
<li>FanDuel Kick of Destiny challenge, brand of Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>)</li>
<li>"Extracted" on Fox</li>
<li>Uber Eats, brand of Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)</li>
<li>WeatherTech</li>
<li>TurboTax, brand of Intuit</li>
<li>NASCAR on Fox</li>
<li>Google Pixel phone with Gemini AI</li>
<li>UFL on Fox</li>
<li>Rocket Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>)</li>
<li>He Gets Us</li>
<li>Liquid Death</li>
<li>HexClad</li>
<li>Duracell, brand of Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</li>
<li>OpenAI</li>
<li>CoffeeMate, brand of Nestle (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSRGY#OTC">NSRGY</a>)</li>
<li>NFL youth organizations</li>
<li>Ram Truck, brand of Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>)</li>
<li>Hellmann's, brand of Unilever (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>)</li>
<li>Pringles, brand of Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>)</li>
<li>Budweiser, brand of Anheuser-Busch InBev</li>
<li>Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>)</li>
<li>NYU Langone Health</li>
<li>Novartis Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>)</li>
</ul>
After End of Second Quarter, During Halftime, During Third Quarter:
<ul>
<li>IndyCar on Fox</li>
<li>MyFitnessPal</li>
<li>Yahoo!, brand of Apollo Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) and Verizon Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>)</li>
<li>Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>)</li>
<li>Jewel-Osco, brand of Albertsons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>)</li>
<li>Bayer Aspirin</li>
<li>"The Masked Singer" on Fox</li>
<li>Fox Nation streaming platform</li>
<li>On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>)</li>
<li>Angel Soft, brand of Georgia-Pacific</li>
<li>Reese's Lava Cup, brand of The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</li>
<li>NFL ad</li>
<li>Tubi streaming platform, brand of Fox</li>
<li>Fox shows</li>
<li>Local ad</li>
<li>Local ad</li>
<li>Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>)</li>
<li>DoorDash Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>)</li>
<li>Meta Platforms</li>
<li>Stand Up to Hate</li>
<li>Nerds</li>
<li>Lay's, brand of PepsiCo</li>
<li>"M3gan 2.0" trailer, distributed by Comcast</li>
<li>Taco Bell, brand of Yum! Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>Nerdwallet</li>
<li>Häagen-Dazs</li>
<li>Tubi</li>
<li>Fox Nation</li>
<li>Bud Light, brand of Anheuser-Busch InBev</li>
<li>Hims &amp; Hers Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>)</li>
<li>Poppi</li>
<li>TV shows on Fox</li>
</ul>
After End of Third Quarter, During Fourth Quarter:
<ul>
<li>Salesforce Inc</li>
<li>Ramp</li>
<li>Tullamore Dew whiskey</li>
<li>Toyota (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>)</li>
<li>Sandals Resorts</li>
<li>Local Ad</li>
<li>Jeep, brand of Stellantis</li>
<li>Tubi streaming platform</li>
<li>Fox News</li>
<li>Stella Artois, brand of Anheuser-Busch InBev</li>
<li>Dove, brand of Unilever</li>
<li>Booking.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>)</li>
<li>UFL on Fox</li>
<li>Bosch</li>
<li>Totino's Pizza Rolls, brand of General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>)</li>
<li>GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>)</li>
<li>Fetch</li>
<li>TV shows on Fox</li>
</ul>
End of Game, Eagles win 40-22, Final Ad Spot After Game:
<ul>
<li>Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>)</li>
<li>Adidas (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>)</li>
<li>Cirkul</li>
<li>Vrbo, brand of Expedia Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>)</li>
<li>Universal Resorts</li>
<li>Energy Transfer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>)</li>
</ul>
The list includes all the Super Bowl LIX commercials that aired from the playing of the national anthem to the first ad break after the Eagles won.
Read Also:<a href="https://www.benzinga.com/general/sports/25/02/43578857/if-you-invested-in-bitcoin-instead-of-buying-super-bowl-tickets-each-year-since-2012-heres-how-much-youd-have-today"> If You Invested in Bitcoin Instead of Buying Super Bowl Tickets Each Year Since 2012, Here&#8217;s How Much You&#8217;d Have Today</a>
Winners and Losers: While everyone will have their own favorites and ads they wish they'd never seen, here's a look at some of the winners and losers.
USA Today asks consumers to <a href="https://admeter.usatoday.com/2025">vote </a>on their favorite Super Bowl commercials each year via the Ad Meter.
Here are the top 10 highest rated ads as of Monday morning:
<ol>
<li>Budweiser – "First Delivery"</li>
<li>Lay's – "The Little Farmer"</li>
<li>Michelob Ultra – "The ULTRA Hustle"</li>
<li>Stella Artois – "David and Dave</li>
<li>NFL – "Somebody"</li>
<li>NFL – "Flag 50"</li>
<li>Bud Light – "Big Men on Cul-De-Sac"</li>
<li>Uber Eats – "Century of Cravings"</li>
<li>Hellmann's – "When Sally Met Hellmann's"</li>
<li>Pfizer – "Knock Out"</li>
</ol>
Here are the 10 lowest rated ads as of Monday morning:
<ol>
<li>Tubi – "The Z Suite"</li>
<li>Fetch – "The Big Reward"</li>
<li>CoffeeMate – "Foam Diva"</li>
<li>Cirkul – "You Got Cirkul"</li>
<li>OpenAI – "ChatGPT: The Intelligence Age"</li>
<li>Squarespace – "A Tale As Old As Websites"</li>
<li>T-Mobile – "A New Era in Connectivity"</li>
<li>DoorDash – "DashPass Math"</li>
<li>Hims &amp; Hers – "Sick of the System"</li>
<li>GoDaddy – "Act Like You Know"</li>
</ol>
The list of winners shows that Anheuser-Busch InBev continues the tradition of unforgettable Super Bowl beer ads once again, taking four places on the top 10 list.
The list of losers shows that companies like CoffeeMate and Hims &amp; Hers, which had their first ever Super Bowl commercials may not have hit the mark with consumers watching.
Read Next: 
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<li><a href="EXCLUSIVE: Is Super Bowl $7M Ad Cost Worth It? 61% Say No, 18% Say They Looked Up Companies After Last Year's NFL Championship">EXCLUSIVE: Is Super Bowl $7M Ad Cost Worth It? 61% Say No, 18% Say They Looked Up Companies After Last Year&#8217;s NFL Championship</a></li>
</ul>
Photo: Shutterstock

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Super Bowl Commercials 2025: Complete List of Super Bowl LIX Ads And Companies Behind Them

German sportswear brand Adidas AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>) has released its <a target="_blank" href="https://www.adidas-group.com/en/media/press-releases/adidas-finishes-successful-year-with-better-than-expected-fourth-quarter-results" rel="noreferrer noopener">preliminary </a>results for the fourth quarter of 2024.
The company&#8217;s revenue increased by 19% in currency-neutral terms, with a 24% rise in euro terms, totaling 5.97 billion euros (~$6.24 billion). Excluding <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38511886/adidas-puts-yeezy-history-behind-rides-fashion-high-with-samba-and-gazelle-shoes" rel="noreferrer noopener">Yeezy sales from both years</a>, currency-neutral growth was 18%.
Additionally, the company saw a notable improvement in its gross margin, which grew by 520 basis points to 49.8%, up from 44.6% in 2023.
Fourth-quarter operating profit reached 57 million euros, reversing the 377 million euros loss recorded in the same quarter last year.
Adidas also posted strong growth for the full year 2024. Its revenue climbed 12% on a currency-neutral basis, reaching 23.68 billion euros. When excluding Yeezy sales, the company saw a 13% increase in currency-neutral revenues.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/25/01/43098100/costco-workers-vote-to-strike-over-fair-contract-demands" rel="noreferrer noopener">Costco Workers Vote To Strike Over Fair Contract Demands</a>
The gross margin for the year improved by 330 basis points, reaching 50.8%. Operating profit surged by over 1 billion euros, rising from 268 million euros in 2023 to 1.34 billion euros in 2024.
&#8220;We clearly see that consumers&#8217; and retailers&#8217; interest in our products is growing across both Lifestyle and Performance. Strong growth across all regions and divisions proves the good job our teams are doing across regions and functions,&#8221; said CEO Bjørn Gulden.
&#8220;We also feel good about the future, and we see potential to increase our market share in all markets. There is a lot of macroeconomic uncertainty right now, but we clearly have the goal to again grow double-digit with the adidas brand and use that growth to continue to improve our operating profit and make further progress towards our 10% margin target.&#8221;
Price Action: ADDYY shares closed higher by 6.59% at $132.22 on Tuesday.
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<li><a href="https://www.benzinga.com/25/01/43108106/volkswagen-warns-of-tariffs-impact-on-us-consumers" target="_blank" rel="noreferrer noopener">Volkswagen &#8216;Concerned&#8217; Over Trump Tariffs: Will Automakers Pass Costs To US Consumers?</a></li>
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Image via Shutterstock.

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Adidas Sees Solid Gains In Q4, Looks To Expand Market Share

University of Colorado football star Travis Hunter took home the Heisman Trophy Saturday night, adding to his rare pathway to the NFL that included turning down Division I schools to play for Deion Sanders at <a href="https://www.benzinga.com/news/21/12/24631543/how-deion-sanders-and-the-nations-top-high-school-recruit-are-shaking-up-college-football">Football Championship Subdivision school Jackson State University.</a>
What Happened: With Hunter a Heisman Trophy winner and a rare two-way threat playing both cornerback and wide receiver, attention will now shift to how high he could get drafted in the 2025 NFL Draft and if he can break a<a href="https://www.benzinga.com/general/sports-betting/24/04/38501129/2024-nfl-draft-recap-quarterbacks-wide-receivers-detroit-set-records-who-will-win-rookie-o"> recent string of preference</a> to take quarterbacks first overall.
In the 2024 NFL Draft, six quarterbacks were selected in the first round setting records for the position. Among the draft picks were quarterbacks Caleb Williams and Jayden Daniels at first and second overall, who won the Heisman Trophy in 2022 and 2023, respectively.
Here are the most recent Heisman Trophy winners and their NFL Draft positions:
<ul>
<li>2023: Jayden Daniels, Quarterback, 2nd overall</li>
<li>2022: Caleb Williams, Quarterback, 1st overall</li>
<li>2021: Bryce Young, Quarterback, 1st overall</li>
<li>2020: DeVonta Smith, Wide receiver: 10th overall</li>
<li>2019: Joe Burrow, Quarterback, 1st overall</li>
<li>2018: Kyler Murray, Quarterback, 1st overall</li>
<li>2017: Baker Mayfield, Quarterback, 1st overall</li>
<li>2016: Lamar Jackson, Quarterback, 32nd overall</li>
<li>2015: Derrick Henry, Running back, 45th overall</li>
<li>2014: Marcus Mariota, Quarterback, 2nd overall</li>
<li>2013: Jameis Winston, Quarterback, 1st overall</li>
</ul>
The list shows the Heisman Trophy is often won by a quarterback with the position taking home the honors in nine of the past 11 years. In the past 11 years, six of the Heisman Trophy winners have gone first overall in a future NFL Draft.
No non-quarterback Heisman Trophy winner has gone first overall in the NFL Draft since running back Bo Jackson in 1985, according to the <a href="https://www.ncaa.com/news/football/article/2024-04-25/every-heisman-winner-be-selected-no-1-overall-nfl-draft">NCAA</a>. Of the 25 Heisman Trophy winners who have gone first overall, all have been listed as a quarterback, running back or tight end. 
Also keep in mind that the last time a wide receiver went first overall was 1996 and the last time a defensive back went first overall was 1956, with a preference for quarterbacks, defensive ends and offensive linemen in recent years.
Hunter as a wide receiver and cornerback would set some new firsts if he goes first overall. This could be why he's the current second favorite on sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) to go first overall at odds of +350. Listed ahead of Hunter is his teammate, Colorado quarterback Shedeur Sanders at odds of -120.
Trailing the two Colorado teammates is Miami quarterback Cam Ward, who was also a Heisman Trophy finalist, at odds of +400. No other player has odds lower than +2500. This means these three are the high favorites of going first overall, but right now it could be anyone's game of who will go first overall and likely will depend on which team secures the first overall pick.
Read Also: <a href="https://www.benzinga.com/general/gaming/24/02/37292071/game-on-or-sellout-this-is-how-much-ea-sports-offers-college-football-players-for-their-likeness" target="_blank" rel="noreferrer noopener">Game On Or Sellout? This Is How Much EA Sports Offers College Football Players For Their Likeness</a>
What's Next: One of the big questions for whoever drafts Hunter will be which position they want him to play in the NFL or if he will play both. During this season, Hunter <a href="https://x.com/PFF_College/status/1866945539801223417">had </a>709 offensive snaps and 713 defensive snaps, averaging 118 per game, significantly higher than anyone else in NCAA Football Division I.
Fox Sports analyst Jay Glazer <a href="https://x.com/JayGlazer/status/1868731686932078974">said </a>Sunday that he polled 13 NFL coaches and GMs asking about Hunter, with 12 saying they would play the Heisman winner primarily at CB with some offensive packages. The lone person who said wide receiver said the elite ball skills made the position the one Hunter should play. The 12 who picked cornerback also acknowledged elite ball skills and said a shutdown cornerback is harder to find.
The 2025 NFL Draft will be held in Green Bay, Wisconsin, with the first round happening on April 24 with Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) airing coverage on ABC and ESPN.
Colorado takes on Brigham Young University in the Alamo Bowl on Dec. 28 at 7:30 p.m. in a game that will air on ABC. Hunter indicated Monday that he plans to play in the game. Some players leaving for college sit out bowl games. This would mean NFL scouts, coaches and general managers could get another look at the rare two-way star ahead of the NFL Draft.
Hunter going high in the NFL Draft and succeeding at the next level could be big for Adidas AG &#8211; ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>), which <a href="https://news.adidas.com/american-football/adidas-welcomes-collegiate-superstar-travis-hunter-to-the-three-stripes--expanding-its-next-gen-athl/s/a02057f4-e796-426e-84c7-ac2ae40dfc66">signed </a>the NCAA star to its growing roster of NFL players.
Read Next: 
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<li><a href="https://www.benzinga.com/news/23/05/32532826/tim-tebow-turned-down-1-million-commercial-for-a-1-chance-to-play-in-nfl-a-lesson-in-passion-and-sac">Tim Tebow Turned Down $1 Million Commercial For A 1% Chance To Play In NFL: A Lesson In Passion And Sacrifice</a></li>
</ul>
Photo: Debby Wong via Shutterstock

Entertainment

Sports Betting

DKNG

Travis Hunter Wins Heisman, Will He Be #1 Pick In 2025 NFL Draft? What Betting Odds, History Show

<a href="https://www.bloomberg.com/news/articles/2024-12-10/adidas-headquarters-raided-in-years-long-tax-investigation?srnd=homepage-europe" title="https://www.bloomberg.com/news/articles/2024-12-10/adidas-headquarters-raided-in-years-long-tax-investigation?srnd=homepage-europe">https://www.bloomberg.com/news/articles/2024-12-10/adidas-headquarters-raided-in-years-long-tax-investigation?srnd=homepage-europe</a>

Legal

Global

ADDDF

'Adidas Headquarters Raided In Years-Long Tax Investigation' - Bloomberg News

Needham analyst Tom Nikic initiated coverage on Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) with a Buy rating and <a href="https://www.benzinga.com/quote/FL/analyst-ratings" target="_blank" rel="noreferrer noopener">a price forecast of $27</a>.
The analyst writes that Foot Locker is positioned for an earnings recovery in 2025, with improvements expected from a strengthened Nike, Inc partnership, growth in non-Nike brands, recent SG&amp;A investments, and the recovery of merchandise margins.
Despite a current lull post-back-to-school, the analyst expects trends to pick up after Thanksgiving and is encouraged by a recent consumer survey indicating strong holiday interest in sneakers.
Nikic notes that Foot Locker faced challenges due to Nike&#8217;s decision to reduce high-demand product supply but believes Nike&#8217;s shift to increase product allocations to Foot Locker starting in the fourth-quarter of 2024 will drive positive sales growth.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/11/42144102/california-has-the-finest-weed-in-the-world-says-lab-expert-and-how-to-save-its-struggling-market" rel="noreferrer noopener">California Has The Finest Weed In The World, Says Lab Expert, And How To Save Its Struggling Market</a>
Additionally, Foot Locker is benefiting from expanding Hoka and On availability, along with strengthened relationships with brands like Adidas AG, New Balance, Crocs, Inc., and UGG.
The analyst explains that Foot Locker&#8217;s EBIT margin was significantly lower last year compared to pre-COVID levels and is only expected to see modest improvement in FY24 due to aggressive long-term growth investments.
However, as spending tapers off next year, Foot Locker is expected to leverage these investments to expand margins.
Additionally, with merchandise margins still over 300bps below pre-COVID levels, there is further opportunity for gross margin improvement, Nikic adds.
The analyst projects the company to report FY24 revenues of $8.164 billion and earnings per share of $1.61.
Price Action: FL stock is up 1.67% at $22.83 at last check Friday.
Photo by Sorbis via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/11/42140450/doj-targets-google-chrome-poll-shows-64-oppose-alphabet-breakup-youtube-seen-as-top-prize" target="_blank" rel="noreferrer noopener">DOJ Targets Google Chrome, Poll Shows 64% Oppose Alphabet Breakup: YouTube Seen As Top Prize</a></li>
</ul>

Analyst Color

Price Target

Initiation

Analyst Ratings

CROX

Foot Locker To Gain From Strengthened Partnership With Nike: Analyst Forecasts Earnings Recovery Next Year

Meme cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is soaring in price and valuation, up more than 80% in the past week and <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41876486/dogecoin-explodes-for-86-weekly-gain-what-is-going-on">setting new 52-week highs.</a>
With the latest push in valuation, Dogecoin passed the valuation of some well-known global companies.
What Happened: Dogecoin was created in 2013 by Jackson Palmer and Billy Markus, <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/36030223/if-you-invested-1-000-in-dogecoin-when-the-meme-coin-launched-heres-how-much-youd-have-now">meant as a joke</a> and as a satirical coin to mock Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
While <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">Dogecoin </a>trails Bitcoin in value at $47.7 billion to $1.72 trillion based on current market capitalizations, the accomplishments of increasing that much in value are no laughing matter.
With its current market capitalization of $47.7 billion at the time of writing, Dogecoin would rank as the 428th largest company in the world, according to<a href="https://companiesmarketcap.com/page/5/"> companiesmarketcap.com.</a>
Here is a look at some well-known companies that are worth less than Dogecoin is Monday:
<ul>
<li>Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>): $47.6 billion</li>
<li>Volkwagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>): $46.3 billion</li>
<li>Nasdaq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>): $45.7 billion</li>
<li>Keurig Dr Pepper (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDP#NASDAQ">KDP</a>): $44.9 billion</li>
<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>): $44.7 billion</li>
<li>Heineken (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HEINY#OTC">HEINY</a>): $44.1 billion</li>
<li>Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>): $43.2 billion</li>
<li>Adidas (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>): $42.5 billion</li>
<li>Honda Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>): $42.5 billion</li>
<li>Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>): $40.9 billion</li>
<li>Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>): $39.4 billion</li>
<li>Lululemon Athletica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>): $39.1 billion</li>
<li>Yum! Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>): $38.2 billion</li>
<li>7-Eleven: $37.3 billion</li>
<li>Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>): $35.7 billion</li>
</ul>
There you have it, 15 companies you've likely heard of now worth less than Dogecoin. Years ago, it was likely unimaginable that the joke cryptocurrency would become larger than companies like Ford and Adidas, but here we are.
Read Also: <a href="https://www.benzinga.com/general/education/24/11/41882342/heres-how-much-100-in-dogecoin-today-could-be-worth-if-doge-hits-new-all-time-highs-2">Here&#8217;s How Much $100 In Dogecoin Today Could Be Worth If DOGE Hits New All-Time Highs</a>
What's Next: The cryptocurrency sector has been enjoying a surge in valuation and interest since the 2024 election with Dogecoin far from the only cryptocurrency trading higher.
Bitcoin hit several new all-time highs on Monday and is currently trading over $87,000.
Dogecoin hit a one-year high of $0.3278 on Monday and currently trades at $0.3251. While the cryptocurrency is up over 100% in the last seven days, Dogecoin trades below its all-time high which was previously set back in May 2021.
Dogecoin's current all-time high stands at $0.7376, a level reached on the same day Elon Musk appeared on an episode of "Saturday Night Live" and gave the meme crypto several shout-outs.
Musk's call to be in charge of the Department of Government Efficiency, or D.O.G.E. under President-elect Donald Trump has increased attention on Dogecoin.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41410605/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-meme-crypto-heres-h">If You Invested $100 In Dogecoin When Elon Musk First Tweeted About The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Photo: Executium via Unsplash

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Much Wow! Dogecoin Is Now Larger Than Ford, Adidas, Lululemon, Roblox: 15 Companies Worth Less Than Meme Crypto

A wave of concern is sweeping through the athletic footwear industry as Donald Trump&#8216;s proposed import tariffs threaten to significantly impact sneaker manufacturers and retailers. The potential policies could especially affect companies heavily <a href="https://www.benzinga.com/news/24/11/41795320/trumps-20-tariff-plans-could-unleash-wave-of-spending-on-big-ticket-buys-in-holiday-quarter-says-eco">dependent on Asian manufacturing hubs</a>.
What Happened: Industry leaders are bracing for impact after <a href="https://www.benzinga.com/news/large-cap/24/11/41774549/trumps-big-tech-policies-what-gop-victory-means-for-apple-google-microsoft">Trump proposed a 20% blanket tariff</a> on all imports and a steep 60% levy specifically on Chinese goods. The footwear sector, which already faces substantial import duties, could see production costs surge further.
Wall Street reflected these concerns as major athletic wear stocks declined. Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) fell 3.41%, while Adidas (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>) dropped 3.62%. Under Armour (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAA#NYSE">UAA</a>) saw a 1.35% decrease, and VF Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>), owner of Vans, declined 2.67%.
&#8220;It&#8217;s a huge headwind for the entire industry,&#8221; Brooks Running CEO Dan Sheridan <a href="https://finance.yahoo.com/news/starbucks-ceo-no-plans-to-move-hq-out-of-seattle-as-the-company-attempts-a-turnaround-214425009.html">told</a> Yahoo Finance, noting that footwear companies currently navigate a 20% tariff on Chinese imports and approximately 27% on Vietnamese goods.
Benzinga contacted several impacted companies but did not receive an immediate response.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41795668/peter-schiff-says-cutting-taxes-is-easy-but-reducing-spending-not-so-simple-warns-of-inflation-s">Peter Schiff Says &#8216;Cutting Taxes Is Easy&#8217; But Reducing Spending Not So Simple, Warns Of Inflation Spike Under Trump</a>
Why It Matters: The industry&#8217;s vulnerability stems from its heavy reliance on Asian manufacturing hubs, including China, Vietnam, and Indonesia. Additional levies could force companies to either absorb higher costs or pass them on to consumers.
Trump&#8217;s proposed policies follow his election victory over Democrat Kamala Harris, where he secured 277 electoral votes and 51% of the popular vote, according to Associated Press figures.
Some companies showed resilience amid the market uncertainty. Puma (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PMMAF#OTC">PMMAF</a>) gained 2.10%, while Deckers Outdoor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), the parent company of Hoka One One, edged up 0.67%.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/11/41795320/trumps-20-tariff-plans-could-unleash-wave-of-spending-on-big-ticket-buys-in-holiday-quarter-says-eco">Trump&#8217;s 20% Tariff Plans Could Unleash Wave Of Spending On Big Ticket Buys In Holiday Quarter, Says Economist Justin Wolfers — &#8216;Already Hearing Anecdata&#8217;</a></li>
</ul>
Image generated using Dall-E
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Asia

DECK

PMMAF

Trump 2.0 A Sneaker Head's Nightmare? Your Next Pair Of Nikes Or Vans Could Cost A Pretty Penny: Here's Why

adidas Raises FY24 Outlook: Sees Currency-neutral Revenues To Increase 10% (Previously: High-single-digit Rate); Sees Operating Profit Of EUR1.2B (Prior View: Around EUR1.0B)

Earnings

adidas Q3 EPS EUR2.44 Compared With EUR1.40 YoY; Revenues Grew 7% To EUR 6.438B

<a href="https://www.adidas-group.com/en/media/press-releases/adidas-reports-better-than-expected-third-quarter-results-and-increases-its-full-year-guidance" title="https://www.adidas-group.com/en/media/press-releases/adidas-reports-better-than-expected-third-quarter-results-and-increases-its-full-year-guidance">https://www.adidas-group.com/en/media/press-releases/adidas-reports-better-than-expected-third-quarter-results-and-increases-its-full-year-guidance</a>

Adidas Reports Better-Than-Expected Q3 Results And Raises FY Guidance; Q3 Currency-Neutral Revenues Up 10% YoY, Euro Revenues Grow 7% To €6.44B; Excluding Yeezy, Currency-Neutral Revenues Increase 14%; Gross Margin Improves To 51.3%; Operating Profit Jumps To €598M, Including €50M From Yeezy Inventory Sales; FY Operating Profit Expected Around €1.2B, Revenue Growth Forecast Raised To 10%

&nbsp;Escalade, Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESCA#NASDAQ">ESCA</a>) a leading manufacturer and distributor of sporting goods, recreation equipment, and fitness equipment, is proud to announce a new partnership for its US Weight subsidiary as the official U.S. distributor of adidas Fitness accessories. This exciting addition bolsters US Weight's growing portfolio of fitness brands, which already includes industry leaders Lifeline Fitness, US Weight, and The Step.

ESCA

Escalade Subsidiary US Weight Names Official U.S. Distributor Of Adidas Fitness Accessories

Crocs, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crox#NASDAQ">CROX</a>) is scheduled to release second-quarter 2024 results on Aug 1 before market open. The Zacks Consensus Estimate for revenues is pegged at $1.10 billion, indicating a rise of 2.7% from the prior-year reported figure.
The consensus estimate for earnings per share has remained stable in the past 30 days at $3.54. The estimate indicates a drop of 1.4% from the year-ago period&#39;s reported number.
The Broomfield, CO-based company has a trailing four-quarter earnings surprise of 17.1%, on average. In the last reported quarter, its bottom line surpassed the Zacks Consensus Estimate by 34.2%.
<h3>Key Factors to Note</h3>
Crocs&#39; second-quarter sales are likely to have benefited from the solid consumer demand across the Crocs and HEYDUDE brands, backed by effective pricing actions. Also, strength in clogs, sandals and personalization is an added positive. The company&#39;s Jibbitz business has also been doing well for quite some time now, backed by growth in Asia.
Additionally, lower inbound freight costs, coupled with favorable ocean freight rates and lower promotional activity, are expected to have bolstered gross margins during the quarter. On its last quarter&#39;s earnings call, the company expected revenue growth of 1-3% year over year at constant currency for the second quarter. It had projected the Crocs brand&#39;s revenues to grow 6-8% year over year while the HEYDUDE brand&#39;s revenues were anticipated to plunge 20-23%. Management had envisioned adjusted earnings to be in the range of $3.40-$3.55 per share and the adjusted operating margin to be 26.5%.
However, Crocs has been facing challenges related to the operating environment and rising costs associated with the HEYDUDE acquisition. Also, investments in distribution and logistics have been acting as deterrents. Inflation, higher interest rates and geopolitical tensions are other concerns. The company has been struggling with higher SG&amp;A expenses for a while now, driven by investments in talent, marketing and DTC. These limitations are likely to have contributed to reduced profitability.
<h3>Valuation Picture</h3>
From a valuation perspective, Crocs offers an attractive opportunity, trading at a discount relative to historical and industry benchmarks. With a forward 12-month price-to-earnings ratio of 9.40x, which is below the five-year high of 34.18x and the Textile - Apparel industry&#39;s average of 11.79x, the stock offers compelling value for investors seeking exposure to the sector.
The recent market movements show that Crocs&#39; shares have risen 21.5% in the past six months against the industry&#39;s 23% decline.
<h3>Zacks Model</h3>
Our proven model doesn&#39;t conclusively predict an earnings beat for Crocs this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that&#39;s not the case here.
<div class="chart_embed">
<h3>Crocs, Inc. Price and EPS Surprise</h3>
<img alt="Crocs, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/eb/1721994673.png" style="height:263px; width:544px" title="" />
Crocs, Inc. price-eps-surprise | Crocs, Inc. Quote
</div>
Crocs currently has an Earnings ESP of 0.00% and a Zacks Rank of 2.
<h3>Stocks Poised to Beat Earnings Estimates</h3>
Here are some companies, which according to our model, have the right combination of elements to post an earnings beat:
Adidas (OTC: <a class="ticker" href="https://www.benzinga.com/stock/addyy#OTC">ADDYY</a>) currently has an Earnings ESP of +2.39% and a Zacks Rank of 2.
ADDYY is likely to register bottom and top-line growth when it reports second-quarter results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $6.4 billion, indicating 9.2% growth from the figure reported in the year-ago quarter.
The consensus estimate for ADDYY&#39;s earnings is pegged at 69 cents a share, indicating a 165.4% rise from the year-ago quarter&#39;s actual. The consensus mark has risen significantly from 20 cents per share pegged in the past 30 days.
MGM Resorts International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mgm#NYSE">MGM</a>) currently has an Earnings ESP of +15.35% and a Zacks Rank of 3. MGM is likely to register bottom and top-line growth when it reports second-quarter&nbsp; results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $4.2 billion, indicating 6% growth from the figure reported in the year-ago quarter.
The consensus estimate for MGM Resorts&#39; earnings is pegged at 66 cents a share, implying an 11.9% increase from the year-earlier quarter. The consensus mark has moved down by a penny in the past seven days.
Ralph Lauren (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rl#NYSE">RL</a>) currently has an Earnings ESP of +0.56% and a Zacks Rank of 3. RL is likely to register a top-line decrease when it reports first-quarter fiscal 2025 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.5 billion, indicating a 0.6% drop from the figure reported in the prior-year quarter.
The consensus estimate for Ralph Lauren&#39;s earnings is pegged at $2.45 per share, implying a 4.7% jump from the year-ago quarter. The consensus mark has moved up a penny in the past seven days.
<a href="https://www.zacks.com/stock/news/2309825/crocs-crox-q2-earnings-coming-up-what-you-should-know?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2309825">To read this article on Zacks.com click here.</a>

Crocs Q2 Earnings Coming Up: What You Should Know

Carter&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cri#NYSE">CRI</a>) is scheduled to release second-quarter 2024 results on Jul 26 before the opening bell. The branded marketer of apparel, exclusively for babies and children in North America, is likely to witness a decline in the bottom and top lines when it reports the quarterly numbers.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $566.8 million, indicating a fall of 5.6% from the figure reported in the year-ago quarter. The consensus estimate for quarterly earnings, which has remained unchanged at 45 cents per share in the past 30 days, indicates a decrease of 29.7% from the year-ago quarter&#39;s reported figure.
The company has a trailing four-quarter earnings surprise of 26.6%, on average. In the last reported quarter, CRI&#39;s bottom line beat the Zacks Consensus Estimate by 47.8%.
<h3>Factors to Note</h3>
Carter&#39;s has been reeling under inflationary pressures, which have been affecting consumers&#39; discretionary spending. The second-quarter performance is likely to have been hurt by inflation, elevated interest rates and the suspension of pandemic-related stimulus payments to child-care centers, thereby leading to soft demand for the company&#39;s products. In addition, higher selling, general and administrative expenses (SG&amp;A), reflecting investments in new stores and higher store payroll expenses, are expected to have strained margins and reduced profitability. Also, soft online sales trends are anticipated to have further weighed on the company&#39;s quarterly numbers.
Management had projected second-quarter net sales to be in the range of $560-$570 million, down from $600 million recorded in the year-ago quarter. This included declines of mid-to-high single-digits in the U.S. Retail, low-to-mid single-digits in the U.S. Wholesale and mid-to-high single-digits in the International segments&#39; sales. Management had envisioned adjusted earnings per share to be in the range of 35-45 cents, indicating a decline from 64 cents reported in the year-ago quarter. Carter&#39;s anticipated an adjusted operating income of $25-$30 million for the impending quarter, indicating a drop from $38 million recorded in the year-ago quarter.
Our model predicts a sales drop of 5.7% in the U.S. Retail, 4.8% in the U.S. Wholesale and 6.1% in the International segment. We expect adjusted operating income to plunge 34% year over year to $25 million.
On the flip side, Carter&#39;s is making efforts to maneuver such challenges. The company has been implementing measures like improved pricing and optimized inventory management, apart from strengthening its e-commerce capabilities. Some other notable efforts include expanded omnichannel facilities, including curbside pickup, same-day pickup, buy online and pickup at store, and ship from store. CRI has been experiencing higher-than-expected demand in its U.S. wholesale business for a while.
<h3>Valuation Picture</h3>
From a valuation perspective, Carter&#39;s offers an attractive opportunity, trading at a discount relative to historical and industry benchmarks. With a forward 12-month price-to-earnings ratio of 9.57x, which is below the five-year high of 21.14x and the Shoes and Retail Apparel industry&#39;s average of 20.16x, the stock offers compelling value for investors seeking exposure to the sector.
However, the recent market movements show that CRI&#39;s shares have fallen 14.1% in the past six months compared with the industry&#39;s 22% decline.
<h3>What the Zacks Model Unveils</h3>
Our proven model doesn&#39;t conclusively predict an earnings beat for Carter&#39;s this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that&#39;s not the case here.
<div class="chart_embed">
<h3>Carter&#39;s, Inc. Price and EPS Surprise</h3>
<img alt="Carter's, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/b8/1721739193.png" style="height:263px; width:537px" title="" />
Carter&#39;s, Inc. price-eps-surprise | Carter&#39;s, Inc. Quote
Carter&#39;s currently has an Earnings ESP of 0.00% and a Zacks Rank of 3.
</div>
<h3>Stocks Poised to Beat Earnings Estimates</h3>
Here are some companies, which according to our model, have the right combination of elements to post an earnings beat:
Adidas (OTC: <a class="ticker" href="https://www.benzinga.com/stock/addyy#OTC">ADDYY</a>) currently has an Earnings ESP of +0.05% and a Zacks Rank of 2.
ADDYY is likely to register bottom and top-line growth when it reports second-quarter 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $6.4 billion, indicating 9.2% growth from the figure reported in the year-ago quarter.
The consensus estimate for ADDYY&#39;s earnings is pegged at 69 cents a share, indicating a sharp rise from earnings of 26 cents a share reported in the year-ago quarter. The consensus mark has risen from 42 cents per share in the past 30 days.
MGM Resorts International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mgm#NYSE">MGM</a>) currently has an Earnings ESP of +15.35% and a Zacks Rank of 3. MGM is likely to register bottom and top-line growth when it reports second-quarter results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $4.2 billion, indicating 6% growth from the figure reported in the year-ago quarter.
The consensus estimate for MGM Resorts&#39; earnings is pegged at 66 cents a share, implying an 11.9% increase from the year-earlier quarter. The consensus mark has moved down by a penny in the past seven days.
Planet Fitness (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plnt#NYSE">PLNT</a>) currently has an Earnings ESP of +1.24% and a Zacks Rank of 3. PLNT is likely to have register bottom and top-line growth in its second-quarter results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $294.4 million, indicating 2.8% growth from the figure reported in the year-ago quarter.
The consensus estimate for Planet Fitness&#39; quarterly earnings is pegged at 66 cents per share, indicating a 1.5% rise from the year-ago quarter. The consensus mark has risen by a penny in the past 30 days.
<a href="https://www.zacks.com/stock/news/2307006/carter-s-cri-q2-earnings-coming-up-what-s-in-the-cards?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2307006">To read this article on Zacks.com click here.</a>

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Carter's Q2 Earnings Coming Up: What's in the Cards?

Adidas Continues To Expect Unfavorable Currency Effects To Weigh Significantly On Company's Profitability This Year; Excluding Yeezy Sales In Both Years, Currency-Neutral Revenues Increased 16% During Quarter; These Effects Are Negatively Impacting Both Reported Revenues And Gross Margin Development In 2024

Adidas Increases Its FY Guidance Following Better-Than-Expected Q2 Results; Assumes Sale Of Remaining Yeezy Inventory During Remainder Of Year To Occur On Average At Cost; This Would Result In Additional Sales Of Around €150 Million And No Further Profit Contribution During Remainder Of Year; Revenues Grew 9% To € 5.822 Billion (2023: €5.343 Billion)

Adidas AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>) is reportedly expected to post impressive second-quarter sales and its highest profit margin in three years, driven by the success of its low-rise, multi-colored Samba and Gazelle sneakers.
In contrast, Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) is facing a <a target="_blank" href="https://www.benzinga.com//node/39546190" rel="noreferrer noopener">forecasted decline in annual sales</a>, causing investor concerns about its market position relative to its competitors.
Though Nike&#8217;s shares dropped following the weak forecast, Adidas&#8217; shares remained stable, reflecting investor optimism about Adidas&#8217; growth potential, Reuters reported.
The report cited analyst Simon Irwin from Tanyard Advisory, who stated, &#8220;Nike, in terms of product and message, is very much off its game and Adidas is having a bit of a moment.&#8221;
Nike plans to launch affordable sneakers <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39683071/whats-going-on-with-sneaker-giant-nikes-shares-today" rel="noreferrer noopener">globally to regain its market momentum</a>. Meanwhile, Adidas continues to captivate consumers with new colors and limited editions of its iconic Samba and Gazelle shoes.
Google Trends data reveals a significant rise in online searches for &#8220;Adidas Samba,&#8221; surpassing &#8220;Nike Air Force 1&#8221; searches in recent months, the report highlighted.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39509392/adidas-bribery-allegations-lead-to-staff-exits-in-china" rel="noreferrer noopener">Adidas Bribery Allegations Lead To Staff Exits In China</a>
Analysts predict that Adidas will achieve a profit margin of 51.4% in the second quarter, its highest in three years, with a 4.5% increase in quarterly revenue to 5.6 billion euros ($6.1 billion), per the report.
However, the analysts cautioned against assuming a return to &#8220;golden days of very high margins&#8221; due to weak demand in China and heightened competition.
Despite its success, Adidas faces competition from emerging brands like Hoka, Lululemon Athletica Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>), New Balance, and On Running, which collectively held a 35% global market share in 2023.
Irwin noted that Nike&#8217;s strategy to focus on direct-to-consumer sales has allowed smaller brands to gain market share, contrasting with Adidas&#8217; efforts to strengthen ties with wholesalers under CEO Bjorn Gulden.
Wall Street analysts suggest a potential management shake-up at Nike ahead of its investor day this fall. Additionally, the upcoming Euros soccer championship is expected to boost demand for sportswear in Europe, the report added.
Price Action: ADDYY shares closed lower by 1.17% at $117.14 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39622922/nike-confronts-market-and-product-transition-risks-analyst-warns" target="_blank" rel="noreferrer noopener">Nike Confronts Market And Product Transition Risks, Analyst Warns</a></li>
</ul>

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Nike's Struggles Highlight Adidas' Market Gains In Q2: Report

The Zacks Shoes and Retail Apparel industry continues to deal with hardships from elevated costs, reduced spending trends on discretionary items and increased marketing investments. These headwinds have been the key burdens on the participating companies&#39; profits. Additionally, adverse currency movements threaten industry players due to their worldwide presence. 
However, the industry looks lucrative owing to rising consumer awareness about leading a healthy lifestyle, which has resulted in positive demand trends for activewear and athletic shoes. New and innovative designs have been the key drivers for the industry participants. Players focused on product innovation, store expansion, digital investments and omnichannel growth are expected to gain. Investments in products and e-commerce portals bode well for players like Adidas AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/addyy#OTC">ADDYY</a>), Skechers (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skx#NYSE">SKX</a>), Caleres Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cri#NYSE">CRI</a>) and Wolverine World Wide (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/www#NYSE">WWW</a>).
About the Industry
The Zacks Shoes and Retail Apparel industry comprises companies that design, source and market clothing, footwear and accessories for men, women and children under various brand names. Product offerings of the companies mostly include athletic and casual footwear, fashion apparel and activewear, sports equipment, bags, balls, and other sports and fashion accessories. The companies showcase their products through their branded outlets and websites. Some companies distribute products via other retail stores, such as national chains, online retailers, sporting goods stores, department stores, mass merchandisers, independent retailers and catalogs.
A Look at What&#39;s Shaping the Shoes and Retail Apparel Industry&#39;s Future
Cost Headwinds: Companies in the industry are witnessing elevated costs due to factors like commodity cost inflation and reinvestments. Supply-chain constraints and elevated logistic costs have been acting as deterrents. Many companies expect increased logistic costs to hurt margins in the near term. Elevated marketing expenses, higher operating overhead and demand-creating expenses and increased investments to enhance store and digital operations have been raising SG&amp;A costs. Also, industry participants are witnessing rising costs to support brand campaigns and digital investments. The exit from the Russia business due to the Ukraine-Russia conflict is likely to be the key concern for some players. A tough and competitive labor market is another headwind. These factors pose a threat to the industry players&#39; margins. 
Consumer Demand Trends: Players in the industry have been benefiting from strong consumer demand for activewear/athleisure products and footwear. The trend is expected to continue in 2024. Athletic goods and apparel companies offer products from footwear, sweatshirts, leggings, pants, jackets and tops to yoga wear and running clothes for men and women. The increasing focus on fashion is boosting the demand for innovative clothes and footwear in the United States. Industry participants have been focused on product innovations, active promotions, store expansion and enhancing e-commerce capabilities to gain market share. Favorable health and wellness trends have been the key to inspiring footwear manufacturers to expand their product portfolios. The companies continue to innovate styles, materials and colors and incorporate functional designs to grab a large share of the fast-growing market. Multi-functional shoes, which cater to casual and formal looks, have been gaining popularity. 
E-Commerce Investments: E-commerce has been playing a crucial role in the athleisure market&#39;s growth. The companies in the market segment are looking to build a customer base through websites, social media and other digital channels. As consumers continue to shop from home, the growth of athletic-inspired apparel and digital sales are likely to continue. Companies focused on expanding their athletic-based apparel lines and building on e-commerce capabilities are expected to witness growth in the long run. Efforts to accelerate deliveries through investments in supply chains and order fulfillment avenues are likely to provide an edge to industry players. Simultaneously, companies are investing in renovations and improved checkouts, as well as mobile point-of-sale capabilities, to make stores attractive. Efforts to enhance experiences through multiple channels are likely to contribute significantly to improving traffic and transactions in stores and online.
Zacks Industry Rank Indicates Dull Prospects
The Zacks Shoes and Retail Apparel Industry is an 11-stock group within the broader Zacks Consumer Discretionary sector. The industry currently carries a Zacks Industry Rank #164, which places it in the bottom 34% of more than 250 Zacks industries. 
The group&#39;s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dull prospects for the near term. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. 
The industry&#39;s positioning in the bottom 50% of the Zacks-ranked industries is the result of a negative earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are losing confidence in this group&#39;s earnings growth potential. 
Before we present a few stocks that you may want to consider for your portfolio, let&#39;s look at the industry&#39;s recent stock market performance and valuation picture.
Industry vs. Sector
The Zacks Shoes and Retail Apparel industry has underperformed the sector and the S&amp;P 500 in the past year. 
Stocks in the industry have collectively declined 28%. The Zacks Consumer Discretionary sector and the Zacks S&amp;P 500 composite have risen 2.7% and 23.7%, respectively.
<h3>One-Year Price Performance</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/price_20240702.jpg" style="height:385px; width:620px" />
Shoes and Retail Apparel Industry&#39;s Valuation
On the basis of forward 12-month price-to-earnings (P/E), commonly used for valuing Consumer Discretionary stocks, the industry is currently trading at 18.28X compared with the S&amp;P 500&#39;s 21.5X and the sector&#39;s 16.6X. 
Over the last five years, the industry traded as high as 37.75X and as low as 18.28X, with a median of 27.01X, as the chart below shows.
<h3>Price-to-Earnings Ratio (Past 5 Years)</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/pe_20240702.jpg" />
4 Shoes &amp; Retail Apparel Stocks to Watch
Wolverine: Wolverine is engaged in the designing, manufacturing and distribution of a wide variety of casual as well as active apparel and footwear. The company also manufactures children&#39;s footwear and specially designed boots and accessories for industrial purposes. Its focus on brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage bode well. Wolverine continues to focus on strengthening its DTC business. Speed-to-market initiatives, deployment of digital product development tools, expansion of e-commerce platforms and frequent introduction of products are steadily contributing to its performance. 
Management looks forward to generating $150 million of annual cost savings for 2024, which is likely to be invested in growth brands. The Zacks Consensus Estimate for WWW&#39;s 2024 earnings is pegged at 80 cents per share, which indicates significant growth from 5 cents reported in the year-ago quarter. The consensus estimate for WWW&#39;s 2024 EPS has been unchanged in the past 30 days. The company has a trailing four-quarter negative earnings surprise of 6.3%, on average. Shares of this Zacks Rank #1 (Strong Buy) company have declined 11.9% in the past year.
<h3>Price and Consensus: WWW</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/www_20240702.jpg" style="height:407px; width:620px" />
Skechers: This Manhattan Beach, CA-based company designs, develops, markets and distributes footwear for men, women and children in the United States and overseas under the SKECHERS name, as well as several unique brand names. The company&#39;s emphasis on new product lines, store remodeling projects, cost-containment efforts, inventory management and global distribution platform bodes well. SKX is focused on executing its long-term growth strategy, with a diverse assortment of innovative and comfortable products. This is expected to drive its top line in the near and long term. 
Skechers is investing strategically to improve infrastructure worldwide, primarily in e-commerce platforms and distribution centers. The company&#39;s international business is a significant sales growth driver. SKX has a trailing four-quarter earnings surprise of 34.1%, on average. The Zacks Consensus Estimate for the footwear company&#39;s 2024 sales and earnings indicates growth of 10.6% and 16.9%, respectively, from the year-ago quarter&#39;s reported figures. The consensus estimate for SKX&#39;s 2024 EPS has moved up by 0.5% in the past 30 days. Shares of this Zacks Rank #2 (Buy) company have rallied 26.3% in the past year.
<h3>Price and Consensus: SKX</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/skx_20240702.jpg" />
Caleres: Caleres is a leading footwear retailer and wholesaler in the United States, China, Canada and Guam. The company operates through Famous Footwear and Brand Portfolio segments. The Saint Louis, MO-based company has been benefiting from positive consumer demand trends and accelerated recovery in the footwear marketplace, aiding its sales. The momentum in the Famous Footwear brand is expected to contribute meaningfully to sales growth. Strong performances of CAL&#39;s emerging brands, including Vionic, Sam Edelman, Allen Edmonds and Blowfish Malibu, are expected to be growth drivers. 
Management anticipates the strong performance of the Famous Footwear brand and gains from the Brand Portfolio segments, leveraging a diversified brand model and the continued execution of strategic priorities to aid CAL&#39;s performance. Caleres&#39; focus on consumers&#39; evolving preferences and efforts to drive growth across its omnichannel ecosystem bode well. The Zacks Consensus Estimate for CAL&#39;s fiscal 2024 sales and earnings indicates growth of 0.7% and 5.3%, respectively, from the year-ago quarter&#39;s reported figures. The consensus estimate for CAL&#39;s fiscal 2024 EPS has been unchanged in the past 30 days. The company has a trailing four-quarter earnings surprise of 4.9%, on average. Shares of this Zacks Rank #2 company have rallied 31.9% in the past year.
<h3>Price and Consensus: CAL</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/cal_20240702.jpg" style="height:398px; width:620px" />
Adidas: The leading manufacturer and seller of athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia Pacific and Latin America is poised to gain from strong demand, compelling products and robust performance of its online business. Adidas has been benefiting from improved sell-through of all Adidas products in the market. Moreover, the company has been witnessing improved margins, driven by the recently implemented price increases and an improved channel mix. 
The Zacks Consensus Estimate for ADDYY&#39;s 2024 sales indicates growth of 5.1% from the year-ago quarter&#39;s reported figure. The consensus estimate for ADDYY&#39;s 2024 earnings is pegged at $1.68, whereas it reported a loss of 36 cents in the year-ago quarter. Adidas delivered an earnings surprise of 70.5%, on average, in the trailing four quarters. This Zacks Rank #3 (Hold) stock has rallied 22.1% in the past year.
<h3>Price and Consensus: ADDYY</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/addyy_20240702.jpg" />
<a href="https://www.zacks.com/commentary/2296020/4-steady-shoes-retail-apparel-stocks-in-a-troubled-industry?cid=CS-BENZ-FT-industry_outlook-2296020">To read this article on Zacks.com click here.</a>

Small Cap

4 Steady Shoes & Retail Apparel Stocks in a Troubled Industry

On Thursday, Nike (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nke#NYSE">NKE</a>) reported its fourth quarter earnings,&nbsp;shares plunging more than 12% in after hours trading. Sponsoring nine national teams at the UEFA&nbsp;Euro 2024 football tournament,&nbsp;Nike is&nbsp;the top sponsor of jerseys in that arena,&nbsp;beating out&nbsp;its rivals&nbsp;like&nbsp;Adidas&nbsp;AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/addyy#OTC">ADDYY</a>), but the overall vibe is that Nike just hasn&rsquo;t innovated enough with its products not being accompanied by the quality storytelling it built its success upon.&nbsp;The world&rsquo;s largest sportswear maker&nbsp;by sales lowered its full year sales outlook,&nbsp;rattling&nbsp;the stocks of Foot Locker (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fl#NYSE">FL</a>) and&nbsp;Dick&#39;s Sporting Goods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dks#NYSE">DKS</a>), as it seems even the upcoming Olympics Games won&#39;t be able to help it get out of its sales slump.
<h3>Nike Is Going Back To Embracing Wholesalers</h3>
Nike&rsquo;s&nbsp;strategy to&nbsp;drift away from wholesalers like Foot Locker and Dick Sporting Goods to&nbsp;sell its products through its&nbsp;direct channels of&nbsp;owned&nbsp;stores and website&nbsp;has&nbsp;hurt&nbsp;its&nbsp;sales,&nbsp;so the athleisure wear giant is trying to restore those relations.&nbsp;Its&nbsp;key retail partners,&nbsp;including&nbsp;Foot Locker&nbsp;and Dick&#39;s Sporting Goods have&nbsp;been openly optimistic about Nike&rsquo;s upcoming product launches and new innovations. Foot Locker noted that Nike is clearly back to playing&nbsp;offense.&nbsp;
<h3>Fiscal Fourth Quarter Highlights</h3>
For the quarter that ended on May 31st, Nike reported revenue&nbsp;decreased by&nbsp;2%&nbsp;to&nbsp;$12.61 billion.&nbsp;
Its&nbsp;direct-to-consumer sales&nbsp;were&nbsp;8%&nbsp;down a YoY basis as they amounted to&nbsp;$5.1 billion, while&nbsp;wholesale revenues&nbsp;went up&nbsp;5%&nbsp;as they amounted to&nbsp;$7.1 billion.&nbsp;The world&#39;s largest sportswear company also&nbsp;revealed it is struggling with&nbsp;weakening demand in international markets, including in China.
On a slightly better note,&nbsp;gross margins increased to 44.7% from last year&rsquo;s comparable quarter when it amounted to&nbsp;43.6%.
<h3>A Lowered 2025 Fiscal Year Outlook</h3>
Nike projected a larger than expected sales decline after initially guiding for&nbsp;overall sales growth in 2025 that kicked off on June 1st&nbsp;and is deemed to be a transition year for its business, as phrased by the&nbsp;CEO John Donahoe&nbsp;. In fiscal 2025, Nike excepts&nbsp;revenue to go down by&nbsp;mid-single digits, including&nbsp;first quarter&rsquo;s expected&nbsp;10% drop.
<h3>The World&rsquo;s Most Successful Sports Brand Story Needs To Regain Its Mojo</h3>
Throughout its fiscal 2024, Nike&nbsp;has been trying to&nbsp;restore its&nbsp;sales growth&nbsp;mojo but aweaker than expected quarter wrapped up a lackluster year. Nike is taking aggressive action to reorganize its inventory, hoping&nbsp;the Olympics will also help getting out of its sales slump, along with&nbsp;new products&nbsp;that are expected to boost financials by the end of the year, with&nbsp;meaningful&nbsp;andsequential improvemenst in the second&nbsp;of the year. What Nike never lacked is self-confidence, but the latest reported quarter undoubtedly highlighted the many challenges that gaslighting its well-known spirit.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Nike's Fourth Quarter Results Highlight Its Struggle With Ongoing Challenges

Adidas AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADDYY#OTC">ADDYY</a>) has recently experienced significant internal turmoil. Two of its employees in China departed amid an ongoing corruption investigation within the company.
The inquiry began after Adidas received an anonymous letter on June 7 alleging misconduct and compliance violations by certain staff members in its China operations.
The probe quickly identified one employee who breached the company's conduct code in dealings with local vendors, according to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-26/adidas-says-two-china-employees-have-left-company-amid-probe?srnd=homepage-Europe&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>. This led to their departure.
Another employee was found to have fallen short of Adidas's leadership standards, particularly in fostering mutual respect and trust among colleagues.
This finding resulted in the second dismissal as the company continues to uphold its internal ethical standards.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/05/39045408/nike-wins-partial-victory-in-three-stripe-trademark-battle-with-adidas" rel="noreferrer noopener">Nike Wins Partial Victory in Three-Stripe Trademark Battle with Adidas</a>
The scandal garnered public attention when screenshots of the incriminating letter circulated across social media and news websites in China.
The letter accused Adidas employees of accepting kickbacks from external service providers, with one senior manager allegedly receiving substantial bribes from suppliers, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39351734/adidas-faces-bribery-allegations-in-china-launches-investigation-report" rel="noreferrer noopener">including cash and real estate</a>.
The brand faced significant setbacks from 2019 to 2022 due to stringent lockdown measures and a consumer boycott stemming from the brand's stance on sourcing materials from Xinjiang amid accusations of forced labor practices in the region.
Adidas increased its full-year revenue guidance and sees currency-neutral revenues increasing at a mid- to high-single-digit rate in 2024, up from the <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38287020/adidas-boosts-outlook-on-strong-q1-results-details" rel="noreferrer noopener">previous mid-single-digit rate growth</a>.
Price Action: ADDYY shares are trading higher by 1.62% at $118.76 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

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Adidas Bribery Allegations Lead To Staff Exits In China

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