Adidas warned it could swing to a loss in 2023 if it fails to sell its inventory of Yeezy shoes, following the termination of its partnership with rapper Kanye West
Adidas AG warned it could swing to a loss in 2023 should it fail to sell its inventory of Yeezy shoes, following theThe German sportswear giant on Thursday said it expected sales to fall at a high single-digit rate in
currency-neutral terms because of the “significant adverse impact of not selling the existing stock” from the once-lucrative Yeezy collaboration. This would lower revenues by 1.2 billion euros , and operating profit by 500 million euros, it said.
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