The company says it is yet to decide what to do with hundreds of millions of pounds worth of Yeezy stock which it could yet try to sell off discreetly.
It had a book value of $500m and could, potentially, be written off entirely or re-purposed.It also revealed it is having to pay its former chief executive nearly €16m after he stepped down from the business prematurely in the wake of the partnership's end and other troubles including a perceived reliance on China sales.
Kasper Rorsted left the German sportswear giant last November - almost four years before the end of his contract. Chief Executive Bjorn Gulden, who took the reins at the start of 2023, pledged to rebuild the bruised brand but admitted Adidas faced a"transition" year with the value of its total inventories standing at $600m, up by almost half on the same period last year.Shares fell by more than 2%.Full year sales for 2022 rose by 6% but Chloe Collins, head of apparel at data firm GlobalData, pointed out that they remained 4.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Adidas slashes dividend after loss as Yeezy trainers go unsold\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Lire la suite »
TransPennine Express and Avanti West Coast criticised by leadersPolitical leaders are meeting in Newcastle to discuss ongoing issues with trains in the North.
Lire la suite »
Jose Mourinho 'delivered remarkable offer' by West Ham to replace David Moyes'England calls' for Mourinho, who is flattered by the 'rich contract' offered to him by West Ham. David Moyes is on borrowed time.
Lire la suite »
China overhauls ministries to take on the west in tech\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Lire la suite »
Keighley crash: Bus collides with tractor on A629 in West YorkshireThe Yorkshire Air Ambulance is sent to the crash on the A629 near Keighley.
Lire la suite »
Preston to host North West Apprenticeship and Careers ExpoDelegates at the North West Apprenticeship and Career Expo in 2020 Preston is set to host the 2023 North West Apprenticeship and Careers Expo later this mon
Lire la suite »