“We need to put the pieces back together again, but we need some time,” said new CEO Bjorn Gulden. Source link
Adidas Outlook: Yeezy Come, Uneasy Go
Category: Yeezy News
The Weekly Closeout: Panera debuts baguette bag and Adidas navigates celebrity partner fallout
It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about. From layoffs at Affirm to Jennifer Coolidge’s Superbowl debut for E.l.f Cosmetics, here’s our closeout for the week. What you may…
Adidas Stock Hits a Massive Slump Following Kanye Split
Photo Credit: BrokenSphere / CC by 3.0 Adidas stock slumps as split from Kanye triggers new profit warnings. Adidas shares fell after the company warned that the fallout from its split with Kanye could wipe out its operating profits this year for the first time in 30 years. The company missed its own forecasts with…
Adidas warns unsold Yeezy inventory could wipe out profit for the first time in three decades
Adidas has warned its unsold Yeezy stockpile could wipe out profits for the first time in three decades amid its breakup with Kanye West following his anti-Semitic rants. The retail giant’s shares plummeted over 12 percent on Friday after the company admitted it could lose hundreds of millions due to its unsellable inventory of the…
Adidas Says It Could Lose More Than $1 Billion After Dropping Kanye West
Adidas is saying it’s in a serious financial pinch … and it’s blaming the bind directly on its decision to split from Kanye West. The athletic brand gave the worrisome update Thursday, saying it’s expected to lose a whopping $1.3 billion in sales in 2023 — and the company says it’s because it’s unable to…
Adidas warn of major profit losses after ending Kanye West Yeezy partnership
Adidas has warned of potential major profit losses after severing ties with Kanye West last year. The sportswear company terminated its partnership with West in October 2022 in light of the rapper posting a series of antisemitic comments on social media. In a statement at the time, an Adidas spokesperson said Ye’s remarks and behaviour was…
Adidas Stock Tumbles As Kanye West/Yeezy Split Hammers 2023 Profit Outlook
“We need to put the pieces back together again, but we need some time,” said new CEO Bjorn Gulden. Source link