FRANKFURT (dpa-AFX Broker) - Shares in Adidas on Wednesday extended their losses from the previous day. A lower-than-expected dividend proposal and a cautious outlook from the sporting goods manufacturer made investors cautious. In addition, recently emerged rumors about "negotiations" on the stock of Yeezy products were denied. After Adidas had terminated the cooperation with rapper Kanye West 2022, among other things, because of anti-Semitism allegations, it remains open what will become of the stocks worth 400 million euros.

In the early afternoon, Adidas lost 2.7 percent to 140.50 euros as the taillight in the slightly friendly Dax, with which the short- to medium-term chart support at around 142/143 euros holds.

At 70 cents per share, the dividend is significantly lower than in the previous year and also than analysts had expected on average. For 2021, Adidas had still paid out 3.30 euros. The targets for the current year announced in February were also only confirmed. Here, some stock market participants had hoped for a little more optimism.

Analyst Volker Bosse of Baader Bank and also Adam Cochrane of Deutsche Bank Research also missed more precise statements on medium-term targets. The focus is on whether the sporting goods manufacturer will return to the track of success in 2024 and 2025 with sales and profitability, said Cochrane.

On that, however, new Adidas CEO Björn Gulden had only said, "2023 will be a transition year to lay the foundation for 2024 and 2025." He added that the company would have to reduce inventories and cut back on discounts. "In 2024, we can then start building a profitable business again."/ck/mis/jha/

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