This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Shares in German sports brand Adidas are trading almost 3% higher pre-market on Thursday. Overall, the company’s stock price is trading around 85% up of the lows recorded during the height of the pandemic in Q1.
Recently, shares were boosted by the recovery in risk appetite, linked to the start of COVID vaccinations, which has helped risk sentiment improve greatly. Indeed, the rally in Adidas comes despite the ongoing social restrictions and lockdowns in place across much of Europe reflecting strong online sales for the company.
Considering Selling Reebok Brand
Adidas has been in the news this week over reports that the company is considering selling off its Reebok brand. Adidas bought the brand, which is mainly focused on the US market, for $3.8 billion in 2006. The sale is said to be part of Adidas’s new five-year strategy and follows attempts in 2016 to boost Reebok’s ailing profits as part of its “Muscle Up” strategy.
However, the attempts proved mostl...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.