It had no update on Friday on its plans for the goods which could, potentially, be written off entirely or re-purposed.
Adidas said it was still on course to record its first annual loss in three decades this year, estimated at £612m, when it updated investors on its progress for the first three months of 2023. Net sales declined 1% to £4.6bn while net profits fell to £52m from the £384m achieved in the same period last year, the company said.Kanye West shares image of swastika and praises Hitler
North America proved the main drag on sales but Adidas said partnerships with Bad Bunny, Pharrell Williams and Jerry Lorenzo's Fear of God brand were helping it offset some Yeezy revenue losses.
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Adidas: declining market share in China reflects growing strength of local brands\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t
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Adidas shares jump as new chief says China business has turned the corner\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
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