Adidas warns of ‘significant’ impact on profits as it counts cost of Yeezy fallout
Adidas has warned it could take a €1.2bn (£1.06bn) hit in revenues and swing to a loss this year if it chooses not to sell its remaining Yeezy stock.
Adidas expects to suffer a reduction of €500m (£441.5m) in operating profits this year should it write off its Yeezy inventory and decide to not repurpose it going forward.
The sportswear giant ended its successful partnership with Kanye West, now known as Ye, in October last year after the rapper made anti-semitic remarks on social media.
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