Adidas will slash its 2022 dividend, warning a split with rapper and fashion designer Kanye West could push it to its first annual loss in three decades this year
The company will recommend a dividend of 0.70 euros per share, down from 3.30 euros a share in 2021, at a May 11 annual general meeting, it said.
"We believe the shares fail to discount the time it will take to rebuild the brand and margins," Credit Suisse analyst Simon Irwin said in a note. A pair of Yeezy 350 "Zebra" shoes is now selling for between $340 and $360, compared to around $260 four months ago, according to John Mocadlo, CEO of U.S. sneaker reseller Impossible Kicks.
Gulden said ending Yeezy - a decision that predated his taking the helm - was the right thing to do but added that it was "very sad" and that it would take time for Adidas to build a new brand that is as influential.One area of growth he pointed to is a trend for "terrace" style sneakers like the Samba, Gazelle, and Spezial. He cited Adidas stores selling Samba shoes drawing queues of shoppers in China.
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