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.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Head of UK business lobby steps aside following complaints about his conduct | CNN BusinessThe head of the main business lobby in the United Kingdom is stepping aside while an investigation takes place into complaints about his workplace conduct. What was the wrong doing he’s been accused of CBI in it’s independent investigation will get down to the bottom and legitimacy of any current complaints, I’m sure👍 That ends everything, then nobody gets anything, look what a good idea... Better avoid from the public critism , that it will more he feels humilated
Source: cnni - 🏆 326. / 59 Read more »

WeightWatchers jumps into the prescription weight loss drug business | CNN BusinessWeightWatchers is getting into the booming prescription weight loss drug business. Why are they selling yellow jackets 🤐 The jokes write themselves. For those looking to lose weight please start noticing the gimmicks, eat a minimally processed diet, drink half your body weight in ounces of water a day and walk for at least 30minutes a day. Fail proof.
Source: CNN - 🏆 4. / 95 Read more »

Elon Musk thinks he can fix Twitter's advertising business after derailing it | CNN BusinessElon Musk on Tuesday offered an optimistic picture for how Twitter can improve the advertising business he helped derail and boost its bottom line while also admitting that keeping the social network running is proving to be a challenge after multiple rounds of layoffs. Stop giving him some much access to America. As Rasheed used to say, ball don't lie.
Source: CNN - 🏆 4. / 95 Read more »