Adidas AG Faces Contract Cancellations On Worker’s Rights

Adidas AG (OTCMKTS:ADDYY) (FRA:ADS) (ETR:ADS) is due to announce earnings at 1 am tomorrow morning. News from ESPN today suggests that the rest of the year might be a struggle for the company, as it face the cancellation of contracts and licensing deals on concerns about the company’s worker rights in its manufacturing centers. According to the ESPN post, last week seventeen third level institutions in the united States cancelled their contracts with Adidas AG (OTCMKTS:ADDYY) (FRA:ADS) (ETR:ADS). The schools which have already cancelled contracts with the company are Cornell, Rutgers, Washington, Georgetown, University of Montana, Santa Clara University, College…