Adidas sales should fall only slightly in 2023, a better outcome than previously expected, the sportswear giant said on Thursday, confirming strong demand for its remaining Yeezy shoe stocks helped narrow a projected full-year loss.
FILE PHOTOS: A pair of Yeezy shoes are seen in a Foot Locker store on the day Adidas terminated its partnership with the American rapper and designer Kanye West, now known as Ye, in Garden City, New York, U.S., October 25, 2022.
Sales of surplus Yeezy shoes generated around 400 million euros in the second quarter, helping Adidas reduce its predicted loss for the year to 450 million euros, down from the 700 million euro loss previously expected.
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