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Adidas to slash dividend after Kanye West split

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Adidas is slashing its dividend as the company deals with fallout from ending its partnership with Kanye West.

Analysts estimate Yeezy accounted for as much as 7% of total sales in its best years.

The company will recommend a dividend of 0.70 euros per share, down from 3.30 euros a share in 2021, at a May 11 annual general meeting.Adidas said it is still deciding what to do with its stock of unsold Yeezy footwear.

 

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Adidas was founded by racists.

No biggie

Good….profits came in now going out

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Adidas could ‘literally burn’ $500M in unsold ‘Yeezy’ apparel: reportThe company warned that it faces a more than $500 million hit to its operating profit this year. Why not donate it? That will hurt their ESG score lol They look horrendous
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