Adidas in the spotlight after leaving Kanye West deal
Adidas in the spotlight after leaving Kanye West deal
Image source, Reuters< /figure> By Jemma DempseyBBC News
Adidas has emerged from its deadly relationship with rapper Kanye West and says it expects to make profits of 700 million euros ($598 million of pounds sterling) in 2024.
In February, the German sportswear giant announced plans to sell its remaining Yeezy sneakers from its partnership with West at least cost price.
Adidas' upbeat comments on Tuesday come a month after the company posted its first losses in 30 years.
It manufactures Samba, Gazelle and Campus shoes.
The company said the Revised figures were 200 million euros more than initially forecast and down for a better than expected first quarter of the year.
The company said its quarterly operating profit rose to 336 million euros, up from 60 million euros a year earlier when it was affected by the breakup with West.
Adidas further said it sold an additional €150 million worth of Yeezy products during the quarter, with a profit of around €50 million .
He said the rest of his Yeezy stock would likely be sold for around 200 million euros later this year, but without any additional profit.
Image source, Reuters< /figure> By Jemma DempseyBBC News
Adidas has emerged from its deadly relationship with rapper Kanye West and says it expects to make profits of 700 million euros ($598 million of pounds sterling) in 2024.
In February, the German sportswear giant announced plans to sell its remaining Yeezy sneakers from its partnership with West at least cost price.
Adidas' upbeat comments on Tuesday come a month after the company posted its first losses in 30 years.
It manufactures Samba, Gazelle and Campus shoes.
The company said the Revised figures were 200 million euros more than initially forecast and down for a better than expected first quarter of the year.
The company said its quarterly operating profit rose to 336 million euros, up from 60 million euros a year earlier when it was affected by the breakup with West.
Adidas further said it sold an additional €150 million worth of Yeezy products during the quarter, with a profit of around €50 million .
He said the rest of his Yeezy stock would likely be sold for around 200 million euros later this year, but without any additional profit.
Image source, Reuters< /figure> By Jemma DempseyBBC News
