Adidas up 6% after trimming 2023 loss forecast on strong Yeezy sales


A fashion week guest seen wearing red Adidas yeezy shoes, outside paul and joe during London Fashion Week September 2022 on September 17, 2022 in London.

Jeremy Moeller / Contributor / Getty Images

German sportswear giant Adidas on Monday said it expects a significantly smaller operating loss for the year after recording better-than-expected early sales of its Yeezy stock, which it is offloading after cutting ties with collection creator Ye.

Shares of Adidas were 6.3% higher at 10:22 a.m. BST Tuesday after the company said its potential write-off from remaining inventory was now €400 million ($442.5 million), down from €500 million, as it trimmed its operating loss forecast for 2023 to…

Source cnbc.com

0 0 votes
Article Rating

What new norm of slower Chinese growth could mean for the global economy

Previous article

Home prices continue to climb

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Earnings