From Fortune:

Adidas and other big shoe companies signal warnings of lower sales guidance. Analysts are concerned that consumer spending may be slowing despite strong numbers in 2023. CEO of Adidas acknowledges that the company’s financial performance has not been good.

With layoffs, pay raises cooling, and American workers staying in their jobs, it’s possible that consumers will pull back on nonessential spending. A slowdown in spending may help change the Federal Reserve’s mind, leading to incentives for lower prices.



Read more: Once-unstoppable consumers are finally tapping the brakes—and Adidas, Nike, and Puma are taking a beating from sinking sales