PARIS — Adidas AG said on Tuesday it plans to buy back up to 3 billion euros of its shares by May 11, 2021.Starting on March 22, the German sporting-goods firm intends to buy back shares worth up to 1 billion euros in 2018. Adidas, which reports fourth-quarter results on Wednesday, said it will cancel the majority of the repurchased shares.The maker of Satan Smith and Superstar sneakers plans to finance most of the share buyback from its net cash pile, with operating cash flow generation seen remaining strong in the years ahead. It will also take advantage of low interest rates to finance part of the buyback through debt.This comes in addition to its stated policy of paying an annual dividend to shareholders in the range of 30 to 50 percent of net income from continuing operations."The sizable multiyear buyback program announced today shows the confidence in our strategy 'Creating the New,’” said Harm Ohlmeyer, chief financial officer of Adidas. "We will continue to relentlessly drive operating cash flow, while at the same time investing back into our company to provide for future growth. The buyback complements our stated dividend policy, underscoring our commitment to continuous shareholder return."
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion
@carmeloanthony is upping his fashion game once again, introducing a hat collection with @goorinbros. Called Fresh Greens by Melo x Goorin, the line consists of five unisex models, all of which are made in America from 100 percent wool. Each hat is lined with Anthony’s signature and the inscription “Knowledge of self, wisdom and understanding.” You can purchase the collection line at Goorin’s website as well as three off its stores in San Francisco, New York City and Las Vegas #wwdaccessories
“I am of tradition, but that doesn’t mean I have an old outlook on life,” Hubert de Givenchy told WWD in an interview in 1978. The legendary designer, who died last week at the age of 91, achieved wide success soon after launching his own couture boutique in the early ’50s, but he refused to pine for that time. For the first time since its original publication, read our interview with Givenchy on his awe for Audrey Hepburn and looking forward. Link in bio. #wwdarchives #fbf (📷: Pierre Schermann)
About last night: @alexachung and @supergausa toasted the launch of their capsule collection. “It’s the shape that I love, so rather than amend the last and make the sole crazy or do anything wild, we just did really subtle additions that I think make it look really luxe-y,” said Chung. #wwdfashion (📷: Marc Patrick)
Exclusive: @off____white’s @virgilabloh is launching an exclusive eyewear capsule collection @sunglasshut. The unisex collection, which is made up of three styles, first made its debut on the brand’s fall runway show in Paris. Get all the details on WWD.com – link in bio. #wwdnews #wwdfashion