Earnings

Adidas warns of first annual loss in three decades and cuts dividend after Ye split

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“The numbers speak for themselves. We are currently not performing the way we should”, Adidas CEO Bjørn Gulden said in a press release.

Jeremy Moeller / Contributor / Getty Images

Adidas on Wednesday reported a big fourth-quarter loss and slashed its dividend after the costly termination of its partnership with Kanye West’s Yeezy brand in October.

The German sportswear giant posted a fourth-quarter operating loss of 724 million euros ( $763 million ) and a net loss from continuing operations of 482 million euros. The company will recommend a dividend of 70 euro cents per share at its May 11 annual general meeting, down from 3.30 euros per share in 2021.

Currency-neutral revenues declined by…



Source cnbc.com

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