Yeezy fallout could push Adidas into its first annual loss in 31 years | CNN Business

The German sportswear maker said Wednesday that it would face an operating loss of €700 million this year— its first in 31 years — because of a potential €500 million hit related to unsold Yeezy stock, and the cost of a strategic review. Shares in Adidas\n \n fell 2.2% Wednesday morning after it published its 2022 results and outlook for 2023. The company broke off its lucrative nine-year partnership with Yeezy designer Ye, the rapper formerly known as Kanye West, in October.

Last week, John Mocadlo, chief executive of Impossible Kicks, a large online reseller of high-end sneakers and clothing, said demand for the shoes had surged 30% since around last October. Adidas could perform better this year if it “repurposes” some of its Yeezy products, the company said without elaborating. ‘Year of transition’ The gloomy outlook for Adidas follows what Chief Financial Officer Harm Ohlmeyer called a “disappointing year” for the German giant.

Yeah but he said white lives matter so he's a god to me. And the enemy of CNN.

Who were the founders of Adidas and who did they support

Bahahahahahahahahahahahahahahahaha

Jeez, virtue signalling can bankrupt you, huh?

Get woke go broke

Good

how about the realJanuary6 story?is that not newsworthy? also, I’d like to vote invite folks who have lost faith in CNN to realwalkaway with BrandonStraka and follow jordanbpeterson rustyrockets for RealFacts Cheers🍻

I would take a pair for 75% off

omg leave that man alone keep his name out your mouth we're in a whole new yr he ain't thinking about yall

Ye was right about the Js.

Donate those shoes !!!!

Why is Adidas not serious with business? What did Kanye do that can't be easily forgiven that even his means of livelihood is being attached?

They need to get rid of West

JonesHospodTX Like they didn’t know what they were getting. Where’s my tiny fiddle.

Simple...sell all the stock anyway, because the products are already made. Just cut all future the ties with him.

Go woke go broke.

Get woke, go broke.

adidas should rebrand them and donate to needy children at foster homes and orphanages

Why do you want to log out? Is it a question of sales?

Explain in football please...

That’s their fault. They didn’t even give their customers the choice to still buy Yeezy. They thought they were smarter and ethically superior to your customer’s and now they’re gonna have to pay.

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