Adidas sales to drop slightly in 2023, boosted by Yeezy destocking

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 […]

adidas launches investigation into allegations against Kanye West

Adidas AG (ADSGn.DE) said on Thursday it has launched an investigation into allegations of inappropriate behavior by Kanye West, after the German sporting goods maker ended its partnership with the rapper and fashion designer last month. Adidas said it launched the investigation after receiving an anonymous letter making several allegations against the musician, who now […]