Adidas posts loss as Kanye West split 'hurts' business

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FRANKFURT: German sportswear giant Adidas reported on Friday (May 5) a hefty first-quarter loss, acknowledging its split from controversial US rapper Kanye West was 'hurting' its bottom line. The company booked a net loss of 39 million euros (US$43 million) from January to March, compared to a profit of 48

FRANKFURT: German sportswear giant Adidas reported on Friday a hefty first-quarter loss, acknowledging its split from controversial US rapper Kanye West was"hurting" its bottom line.

But overall sales were not as bad as feared, with analysts seeing early signs of improving fortunes, and Adidas's share price rose 7.5 per cent in the afternoon on the Frankfurt Stock Exchange.

 

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