By mid-July, the German shoemaking giant, Adidas (ETR: ADS), was noted for its exceptionally strong performance – both in terms of sales and in the stock market – as the company was riding high on successes, including with its popular ‘retro' style sneakers.
Two of the most recognizable shoemaking giants in the world – the German athletic apparel and footwear corporation Adidas AG (ETR: ADS) and America's Nike (NYSE: NKE) – have taken a radically different stock market trajectory in 2024.
Adidas (ETR: ADS) share price has outperformed Nike this year as the latter has continued to report weak financial results. It has soared by over 22% in 2024 while Nike has slumped by over 10%.
Adidas is investigating potential compliance violations by its employees in China following a whistleblower complaint accusing high-level executives of receiving millions of euros in bribes.
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