Adidas Next CEO Faces Tough Job With Unsold Shoes Piling Up
- German apparel maker issues second profit warning this year
- Stock has lost all the gains it had under outgoing CEO Rorsted
Photographer: Hollie Adams/Bloomberg
This article is for subscribers only.
Adidas AG’s next chief executive officer is set to inherit an even tougher job.
The company warned Thursday that unsold goods are piling up as consumer demand weakens across China and western markets. That sent the German sport apparel maker’s stock slumping as much as 10%.