In today’s financial news, Adidas AG (ADDYY) is predicting a decline in sales for 2024 as it works through its overstocked Yeezy inventory in North America. The German sportswear brand is expecting a mid-single-digit decline in sales in the region, but overall growth worldwide. Meanwhile, the House of Representatives is set to vote on a bill that could effectively ban TikTok in the U.S. due to national security concerns surrounding its Chinese ownership.
Boeing’s (BA) delivery delays are causing U.S. airlines to rethink their growth plans, with carriers like Southwest Airlines (LUV) slashing flight capacity and considering ordering planes from rival Airbus (EADSY) instead. Dollar Tree (DLTR) shares are plummeting after posting a quarterly loss and announcing plans to close around 600 stores in the first half of fiscal 2024.
On a positive note, the U.K. economy is rebounding, with growth in January after a period of contraction late last year. British shoppers are driving this growth, benefiting from increasing real wages. Overall, U.S. equity futures are stable after hitting fresh records, while bitcoin continues to soar above $73,000. Investors should keep an eye on these developments as they navigate the financial markets today.
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