Adidas stops € 1bn buyback

Adidas stops € 1bn buyback

Adidas suspends its € 1 billion share buyback plan, thereby protecting the group’s liquidity The news comes after the announcement, welcomed by many controversies, that the player will pay the rents for its stores in Germany. Adidas ended the 12 months with a net profit of 1.972 billion euros, an increase of 15% compared to 2018, and a turnover of 23.64 billion, an increase of 8 percent. Uncertainty over the next few months has already led many companies to freeze decisions, from fast fashion groups Inditex and H&M to luxury giants Bering and Lvmh who have postponed the annual shareholders’ meeting, passing through the Essilor Luxottica eyewear player.

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