Adidas warned the issues could push the company to its first annual loss in three decades this year. It also revealed it is having to pay its former chief executive nearly €16m (£14.25m) after he stepped down from the business prematurely in the wake of the partnership's end...
Underlying operating profits are expected to "be around break-even level reflecting sales loss of around € 1.2 billion and corresponding negative operating profit impact of around € 500 million from potentially not selling Yeezy stock,"Adidas reports. "Reported operating loss to be € 700 million ...
Adidas wants a lawsuit over the company's Kanye West & Yeezy fallout dismissed, calling the fraud case filed by investors misguided and opportunistic.
Last Friday (May 5),Adidas posted its first-quarter fiscal report,which reveals the shoe giant had $661 million in lost sales after terminating their partnership withKanye. Overall, it was a total loss of $565 million for the footwear company. IfAdidasdoes sell theirunsold Yeezy inventorythis ...
Last Friday (May 5),Adidas posted its first-quarter fiscal report,which reveals the shoe giant had $661 million in lost sales after terminating their partnership withKanye. Overall, it was a total loss of $565 million for the footwear company. ...
Herzogenaurach, Germany-Revenues at Adidas fell 1% in the fourth quarter of 2022, with a net operating loss of €782m. Of this, €482m was from continuing operations. The decline includes the impact of the termination of the company's Yeezy partnership with Kanye West in October 2022, ...
The final amount donated from the sales of Adidas Yeezy orders will be much larger as the company is willing to pay a significant share of the profits from the Yeezy inventory, the report said. Future of Yeezy Adidas had forecast a loss this year before announcing its intentions to sell ...
Adidas has had a challenging 12 months reeling from its severed partnership with rapper Kanye West, who launched Yeezys back in 2015. It posted its first net loss in over 30 years for 2023, while CEO Bjørn Gulden tries to get the company back on track. The loss of €5...
Adidas still hasn't figured out what to do with $1.3 billion worth of high-end Yeezy sneakers after splitting with the rapper formerly known as Kanye West. The shoes have been sitting in warehouses for nearly seven months since the German sportswear comp
The fate of 1.2 billion euros ($1.3 billion) worth of unsold Yeezy stock is weighing on the German sportswear company as it tries to engineer a turnaround from the loss of the lucrative sneaker line and the continued fallout over its former ties to Ye. ...