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Feb 01, 2024
By: Bhumi Shrivastava
Company anticipates €500 million for 2024, below analyst expectations.
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Remaining Yeezy inventory contributes to profit shortfall.
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Negative currency effects reduce expected earnings.
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Adidas shares plummet by 7.4% following forecast announcement.
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Rivals Nike and Under Armour also affected in US trading.
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Caution from Adidas prompts potential volatility in crypto markets.
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Adidas' market outlook adds uncertainty to the digital asset space.
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