The German sporting-goods company said Wednesday that it will propose a payout of 70 European cents (74 U.S. cents) a share for the year, down from EUR3.30 previously. Adidas reiterated its outlook for 2023, guiding for an organic revenue decline approaching 10% and an operating loss of EUR700 million, in case it decides to write off its remaining Yeezy stock. The loss also includes EUR200 million in strategic one-off costs as the company looks to turn things around. Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby-Joshua KirbyThis content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires03-08-23 0155ETCopyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal March 08, 2023 06:57 UTC