Adidas could lose around 1.2 billion euros in revenue in 2023 if it is unable to sell its existing Yeezy stock."The numbers speak for themselves. We are currently not performing the way we should," Adidas CEO Bjørn Gulden said in a press release."The numbers speak for themselves. We are currently not performing the way we should", Adidas CEO Bjørn Gulden said in a press release.could lose around 1.
The company said late Thursday that it is assessing what to do with the Yeezy inventory, adding it has already accounted for the "significant adverse impact" of not selling the products. Operating profit would drop by about 500 million euros if the company fails to shift the products, and Adidas expects sales to decline at a high single-digit rate in 2023. Adidas could opt to write off its remaining Yeezy products.The company also forecast one-off costs of up to 200 million euros, leaving Adidas' worst-case scenario for the year as a 700 million euro loss for 2023.
"The numbers speak for themselves. We are currently not performing the way we should," Adidas CEO Bjørn Gulden said in a press release. Adidas' revenues increased 1% in 2022, based on unaudited numbers, while operating profit dropped from almost 2 billion euros in 2021 to 669 million euros in 2022.
That's what they deserve for what they did to YE....
Customer loyalty
Go Woke Go Broke
People are starting to realize how silly these look without Kanye's name on it.
They'll be okay. It's a trendy product so it was bound to happen with or without the dude.
YE will come back sign a deal with some other fashionista and completely mop up… those folks who have yeezies in their boxes untouched will also make a tonne of money in yrs to come!! The demand is now X1000% Mark this post.
Yeah because those are a bad idea
Opps!