Tags: billion

Adidas says dropping Ye’s Yeezy shoes could cost it over $1 billion

Adidas’ split from rapper Ye, formerly known as Kanye West, could cost the company some big bucks.  The German sportswear company said Thursday it could lose around $1.3 billion in revenue in 2023 if it’s unable to sell its existing Yeezy inventory, while operating profit would fall by about $535 million. Adidas cut ties with Ye last October because…

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…