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The Independent UK
The Independent UK
National
Via AP news wire

Adidas earnings take beating on breakup with Ye, China slump

(c) Copyright 2023, dpa (www.dpa.de). Alle Rechte vorbehalten

Adidas' breakup with the rapper formerly known as Kanye West and the inability to sell his popular Yeezy line of shoes helped batter earnings at the end of last year, leading to a net loss of 513 million euros ($540 million).

The fourth-quarter loss, also attributed to higher supply costs and slumping revenue in China, contrasts with a profit of 213 million euros in the same period a year ago, the German shoe and sportswear maker said Wednesday.

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