Adidas saw operating earnings dwindle in the first three months of the year as the German sportswear company's breakup with the rapper formerly known as Kanye West and his popular Yeezy shoe brand cost it 400 million euros ($441 million) in lost sales.
Profit was down to 60 million euros from 437 million euros in the same quarter a year ago, while profit margin shrank to a bare 1.1%. Net sales declined 1%, to 5.27 billion euros, and would have risen 9% with the Yeezy line, the company said Friday.
