Adidas said it now expects currency-neutral revenue to decline by a mid-single-digit rate in 2023 from the high-single-digit rate previously projected.
“Without a lot of negative media or consumer reaction, Yeezy stock selling well is a great result for Adidas,” said Christina Fernandez, managing director and senior research analyst at Telly Advisory Group in New York.
The next Yeezy stock sale is also likely to attract strong demand, Fernandez said, but may not be as profitable as the first drop, because Adidas is enlisting wholesale partners instead of selling only through its own channels.
JD Sports said Wednesday it has begun selling Yeezy products from adidas’ second release of Yeezy shoes.