Adidas posts loss as Kanye West split 'hurts' business

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines