By  on March 3, 2016

Shares of Adidas dropped 2 percent Thursday even as the group talked up its prospects in women’s and the U.S. after a strong fourth quarter and bullish outlook for 2016.

Adidas shares closed down at 96.88 euros, or $106.57 at current exchange. But shares are up more than 12 percent overall so far this year as the company accelerates its investments in marketing and gets set to bid adieu to chief executive officer Herbert Hainer, who will be succeeded by former Henkel top executive Kasper Rorsted this summer.

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