adidas: halts share buybacks
(CercleFinance.com) - German sportswear maker adidas said that it was suspending its share repurchases in order to preserve the company's financial flexibility in the wake of the coronavirus pandemic.
The sporting-goods company has decided to formally stop the repurchase of its own shares for the remainder of the year, it said in a statement late on Tuesday.
This means that the company will not deploy the amount of up to 1 billion euros that was initially intended for the repurchase of its shares in 2020.
Two weeks ago, the athletic gear maker already temporarily suspended its share buyback program in the fallout from closures of its retail outlets across Europe and North America.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The sporting-goods company has decided to formally stop the repurchase of its own shares for the remainder of the year, it said in a statement late on Tuesday.
This means that the company will not deploy the amount of up to 1 billion euros that was initially intended for the repurchase of its shares in 2020.
Two weeks ago, the athletic gear maker already temporarily suspended its share buyback program in the fallout from closures of its retail outlets across Europe and North America.
Copyright (c) 2020 CercleFinance.com. All rights reserved.