12/14/2020, 3:34 PM (Source: TeleTrader)
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Chart for: ADIDAS AG NA O.N.

Adidas says may sell Reebok

Adidas AG revealed on Monday that it has begun evaluating multiple courses of action regarding Reebok, including the possibility of selling the subsidiary.

The German sportswear manufacturer added it could also end up retaining Reebok as part of the company. An official decision on the matter is expected to be announced on March 10, 2021, during the unveiling of the company's new five-year plan, Adidas said in a statement.

Adidas, which acquired Reebok 14 years ago, also disclosed that "driven by double-digit growth in its home market North America, global Reebok sales increased by 2% on a currency-neutral basis compared to the previous year."

Baha Breaking News (BBN) / MS