Adidas shares slump on downbeat profit outlook

The maker of Gazelle and Samba trainers said it expects operating profit to rise to 2.3 billion euros for 2026, as it unveiled its annual results. The group's shares fell about eight percent on the Frankfurt Stock Exchange after the announcement, and were trading around 137 euros each. It adds to a steady slide in Adidas stock in recent months driven by worries about growing competition in the sportswear market. Deutsche Bank said guidance for both operating income and profit margins were "slightly weaker-than-expected".