Adidas’ headquarters in Germany was raided on Tuesday as part of a tax investigation into customs and tax compliance for products imported into the country. Authorities are reviewing practices over a nearly four-year period. Adidas confirmed cooperating with customs authorities for years and provided relevant documents during the search. The company stated it does not anticipate financial repercussions and is working with officials to resolve issues stemming from differing interpretations of German and EU law. Adidas shares saw a modest rise in extended trading on Tuesday.
