adidas Announces Formal Plans to Divest from Reebok

Today, adidas announced plans to formally divest from Reebok as part of a forthcoming five-year strategy, which will include reporting adidas as a "discontinued operation" starting with the first quarter of 2021. The company will reveal further details about this plan alongside its 2020 yearly results on March 10. "Reebok and adidas will be able to significantly better realize their growth potential independently of each other," adidas CEO Kaspar Rorsted said in a statement acquired by Reuters.I...